Allspring Global Investments Holdings LLC established a new position in ServiceTitan Inc. (TTAN), purchasing 266,559 shares. This investment is valued at approximately $27.10 million and represents 0.29% of the company.
The disclosure follows ServiceTitan’s strong third-quarter results. The company surpassed earnings per share estimates, reporting $0.24 against a consensus of $0.15. Revenue increased 25% year-over-year, reaching $249.16 million.
Despite the positive revenue growth and earnings beat, ServiceTitan maintains a negative net margin of 23.91%. The company also operates with a negative return on equity.
The investment filing coincides with a period of significant insider selling. Insiders sold a total of 397,165 shares in the previous quarter, valued at roughly $39.63 million.