Franklin Resources Inc. Acquires Shares of 458,327 ServiceTitan Inc. (NASDAQ:TTAN)

Franklin Resources Inc. 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 & Exchange Commission. The fund bought 458,327 shares of the company’s stock, valued at approximately $47,148,000. Franklin Resources Inc. owned about 0.60% of ServiceTitan as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Battery Management Corp. bought a new position in shares of ServiceTitan in the 4th quarter valued at about $496,599,000. TimesSquare Capital Management LLC bought a new position in ServiceTitan in the fourth quarter valued at approximately $87,896,000. Vanguard Group Inc. acquired a new stake in ServiceTitan during the 4th quarter worth $57,349,000. Artisan Partners Limited Partnership acquired a new stake in ServiceTitan during the 4th quarter worth $26,439,000. Finally, Principal Financial Group Inc. bought a new stake in shares of ServiceTitan during the 4th quarter valued at $25,365,000.

Insider Buying and Selling at ServiceTitan

In related news, CFO David Sherry sold 10,175 shares of the business’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 $963,063.75. Following the transaction, the chief financial officer now directly owns 325,409 shares of the company’s stock, valued at approximately $30,799,961.85. The trade was a 3.03 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Michele O’connor sold 5,494 shares of the 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 completion of the transaction, the chief accounting officer now directly owns 89,302 shares in the company, valued at $8,452,434.30. The trade was a 5.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Analyst Ratings Changes

A number of brokerages recently commented on TTAN. The Goldman Sachs Group assumed coverage on ServiceTitan in a research note on Monday, January 6th. They set a “neutral” rating and a $100.00 price objective for the company. Stifel Nicolaus lowered their price target on ServiceTitan from $120.00 to $110.00 and set a “buy” rating for the company in a research note on Friday, March 14th. Loop Capital reduced their price objective on shares of ServiceTitan from $105.00 to $90.00 and set a “hold” rating on the stock in a research note on Friday, March 14th. Baird R W upgraded shares of ServiceTitan to a “strong-buy” rating in a report on Friday, December 27th. Finally, KeyCorp initiated coverage on shares of ServiceTitan in a research report on Monday, January 6th. They set an “overweight” rating and a $120.00 price target on the stock. Four investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $114.33.

ServiceTitan Stock Down 5.4 %

NASDAQ:TTAN opened at $85.07 on Friday. ServiceTitan Inc. has a 52-week low of $79.81 and a 52-week high of $112.00. The stock’s 50-day moving average price is $95.86.

ServiceTitan (NASDAQ:TTAN) last announced its quarterly earnings data on Monday, January 13th. The company reported ($1.18) earnings per share for the quarter. On average, research analysts predict that ServiceTitan Inc. will post -1.98 earnings per share for the current year.

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.