Ghisallo Capital Management LLC Acquires Shares of 353,291 ServiceTitan Inc. (NASDAQ:TTAN)

Ghisallo Capital Management LLC bought a new position in shares of ServiceTitan Inc. (NASDAQ:TTAN) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 353,291 shares of the company’s stock, valued at approximately $36,343,000. ServiceTitan comprises approximately 2.1% of Ghisallo Capital Management LLC’s holdings, making the stock its 11th biggest holding. Ghisallo Capital Management LLC owned about 0.46% of ServiceTitan as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. SBI Securities Co. Ltd. acquired a new stake in shares of ServiceTitan during the fourth quarter worth $26,000. Assetmark Inc. acquired a new stake in ServiceTitan in the 4th quarter worth about $67,000. FIL Ltd bought a new stake in ServiceTitan in the 4th quarter valued at about $67,000. Tower Research Capital LLC TRC acquired a new position in shares of ServiceTitan during the 4th quarter worth approximately $91,000. Finally, Avantax Advisory Services Inc. bought a new position in shares of ServiceTitan during the fourth quarter worth approximately $227,000.

Insider Activity

In related news, CAO Michele O’connor sold 5,494 shares of the company’s stock in a transaction that occurred on Thursday, March 20th. The stock was 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 approximately $8,452,434.30. This represents a 5.80 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO David Sherry sold 10,175 shares of the firm’s stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $94.65, for a total value of $963,063.75. Following the completion of the sale, the chief financial officer now directly owns 325,409 shares of the company’s stock, valued at $30,799,961.85. This trade represents a 3.03 % decrease in their position. The disclosure for this sale can be found here.

ServiceTitan Trading Down 0.5 %

Shares of TTAN opened at $125.37 on Friday. ServiceTitan Inc. has a 52-week low of $79.81 and a 52-week high of $128.16. The firm has a 50 day simple moving average of $98.34.

Analyst Ratings Changes

A number of equities analysts have commented on the company. TD Cowen started coverage on ServiceTitan in a research note on Tuesday, April 8th. They set a “buy” rating and a $120.00 price objective on the stock. Morgan Stanley raised their price target on ServiceTitan from $104.00 to $107.00 and gave the stock an “equal weight” rating in a research report on Friday, March 14th. William Blair assumed coverage on shares of ServiceTitan in a research report on Monday, January 6th. They set an “outperform” rating for the company. Needham & Company LLC reissued a “buy” rating and issued a $125.00 target price on shares of ServiceTitan in a report on Wednesday, April 9th. Finally, Truist Financial began coverage on shares of ServiceTitan in a report on Monday, January 6th. They set a “buy” rating and a $120.00 price target on the stock. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, ServiceTitan currently has an average rating of “Moderate Buy” and an average price target of $117.08.

ServiceTitan Company Profile

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.