Bank of America Corp DE Invests $540,000 in ServiceTitan Inc. (NASDAQ:TTAN)

Bank of America Corp DE acquired a new position in ServiceTitan Inc. (NASDAQ:TTAN) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 5,248 shares of the company’s stock, valued at approximately $540,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. SBI Securities Co. Ltd. acquired a new stake in ServiceTitan during the fourth quarter valued at $26,000. Assetmark Inc. acquired a new stake in ServiceTitan during the fourth quarter valued at $67,000. FIL Ltd acquired a new stake in ServiceTitan during the fourth quarter valued at $67,000. Tower Research Capital LLC TRC acquired a new stake in ServiceTitan during the fourth quarter valued at $91,000. Finally, Insight Holdings Group LLC acquired a new stake in ServiceTitan during the fourth quarter valued at $103,000.

ServiceTitan Trading Down 1.8%

TTAN opened at $102.33 on Wednesday. ServiceTitan Inc. has a twelve month low of $79.81 and a twelve month high of $131.33. The stock’s 50-day simple moving average is $114.26.

ServiceTitan (NASDAQ:TTAN) last issued its earnings results on Thursday, June 5th. The company reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.06. The firm had revenue of $215.69 million for the quarter, compared to analysts’ expectations of $208.61 million. The firm’s revenue was up 26.6% compared to the same quarter last year. Equities analysts predict that ServiceTitan Inc. will post -1.98 EPS for the current year.

Insiders Place Their Bets

In other ServiceTitan news, CAO Michele O’connor sold 5,494 shares of ServiceTitan stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $94.65, for a total transaction of $520,007.10. Following the transaction, the chief accounting officer now directly owns 89,302 shares of the company’s stock, valued at $8,452,434.30. The trade was a 5.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO David Sherry sold 10,175 shares of ServiceTitan stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $94.65, for a total transaction of $963,063.75. Following the transaction, the chief financial officer now directly owns 325,409 shares in the company, valued at $30,799,961.85. This trade represents a 3.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. 51.72% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts recently commented on TTAN shares. Piper Sandler restated an “overweight” rating and set a $125.00 price target on shares of ServiceTitan in a research report on Friday, March 14th. Robert W. Baird raised their price target on shares of ServiceTitan from $106.00 to $124.00 and gave the company an “outperform” rating in a research report on Wednesday, June 4th. Stifel Nicolaus raised their price target on shares of ServiceTitan from $110.00 to $125.00 and gave the company a “buy” rating in a research report on Friday, May 30th. Morgan Stanley raised their price target on shares of ServiceTitan from $107.00 to $109.00 and gave the company an “equal weight” rating in a research report on Friday, June 6th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $140.00 price objective on shares of ServiceTitan in a report on Friday, June 6th. Four equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $122.21.

About ServiceTitan

ServiceTitan, Inc engages in the collection of field service activities required to install, maintain, and service the infrastructure and systems of residences and commercial buildings. The company was founded by Ara Mahdessian and Vahe Kuzoyan on June 8, 2008 and is headquartered in Glendale, CA.