Hsbc Holdings PLC lowered its stake in shares of ServiceTitan Inc. (NASDAQ:TTAN – Free Report) by 67.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,687 shares of the company’s stock after selling 17,599 shares during the quarter. Hsbc Holdings PLC’s holdings in ServiceTitan were worth $924,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of ServiceTitan during the fourth quarter valued at about $112,678,000. CIBC Bancorp USA Inc. bought a new position in shares of ServiceTitan during the 3rd quarter worth approximately $84,983,000. Fuller & Thaler Asset Management Inc. acquired a new stake in ServiceTitan in the fourth quarter valued at approximately $89,702,000. Atreides Management LP purchased a new position in ServiceTitan in the second quarter worth $68,679,000. Finally, Madison Asset Management LLC purchased a new position in ServiceTitan in the fourth quarter worth $67,955,000.
ServiceTitan Stock Up 3.4%
Shares of ServiceTitan stock opened at $80.35 on Tuesday. The firm’s 50 day moving average is $68.13 and its two-hundred day moving average is $73.05. The firm has a market capitalization of $7.67 billion, a P/E ratio of -55.41 and a beta of 0.13. ServiceTitan Inc. has a 52 week low of $54.17 and a 52 week high of $119.99.
Insiders Place Their Bets
In other ServiceTitan news, Director William J.G. Griffith sold 94,415 shares of the business’s stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $63.43, for a total transaction of $5,988,743.45. Following the sale, the director directly owned 443,221 shares in the company, valued at approximately $28,113,508.03. The trade was a 17.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Byron B. Deeter sold 8,845 shares of the business’s stock in a transaction dated Tuesday, June 23rd. The stock was sold at an average price of $63.35, for a total transaction of $560,330.75. Following the sale, the director directly owned 13,782 shares in the company, valued at approximately $873,089.70. This represents a 39.09% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 296,664 shares of company stock valued at $19,958,797. Corporate insiders own 39.89% of the company’s stock.
Analyst Upgrades and Downgrades
Several brokerages have recently commented on TTAN. Piper Sandler increased their price objective on ServiceTitan from $100.00 to $115.00 and gave the company an “overweight” rating in a report on Friday, June 5th. KeyCorp reaffirmed an “overweight” rating on shares of ServiceTitan in a research report on Tuesday, May 26th. Stifel Nicolaus set a $125.00 price target on shares of ServiceTitan in a report on Wednesday, May 27th. BTIG Research reissued a “buy” rating and issued a $110.00 price objective on shares of ServiceTitan in a research note on Friday. Finally, Citigroup restated a “neutral” rating on shares of ServiceTitan in a report on Monday, June 8th. Fifteen research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $110.53.
Check Out Our Latest Stock Analysis on ServiceTitan
About ServiceTitan
ServiceTitan, Inc (NASDAQ: TTAN) is a cloud-based software provider specializing in end-to-end business management solutions for residential and commercial trade contractors. The company’s platform integrates customer relationship management, scheduling and dispatch, mobile workforce management, invoicing, payments and reporting tools into a single suite. By automating key back-office processes, ServiceTitan helps field service businesses improve operational efficiency, enhance customer experience and drive revenue growth.
At the core of ServiceTitan’s offering is a mobile application that allows technicians to access job details, update work orders, capture signatures and process payments from the field.
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