Insider Selling: ServiceTitan (NASDAQ:TTAN) President Sells 16,388 Shares of Stock

ServiceTitan Inc. (NASDAQ:TTAN) President Vahe Kuzoyan sold 16,388 shares of the stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $102.82, for a total transaction of $1,685,014.16. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Vahe Kuzoyan also recently made the following trade(s):

• On Tuesday, November 11th, Vahe Kuzoyan sold 16,388 shares of ServiceTitan stock. The stock was sold at an average price of $92.03, for a total transaction of $1,508,187.64.
• On Wednesday, October 8th, Vahe Kuzoyan sold 16,388 shares of ServiceTitan stock. The stock was sold at an average price of $99.95, for a total value of $1,637,980.60.
• On Wednesday, September 24th, Vahe Kuzoyan sold 16,690 shares of ServiceTitan stock. The shares were sold at an average price of $104.81, for a total value of $1,749,278.90.
• On Tuesday, September 23rd, Vahe Kuzoyan sold 16,504 shares of ServiceTitan stock. The stock was sold at an average price of $107.83, for a total value of $1,779,626.32.

ServiceTitan Stock Up 0.7%

Shares of NASDAQ TTAN traded up $0.77 during mid-day trading on Wednesday, reaching $105.89. 1,489,244 shares of the company were exchanged, compared to its average volume of 868,927. ServiceTitan Inc. has a 1 year low of $79.81 and a 1 year high of $131.33. The firm has a 50-day moving average of $95.06 and a 200 day moving average of $103.78. The stock has a market cap of $9.84 billion and a price-to-earnings ratio of -25.95. The company has a quick ratio of 4.14, a current ratio of 4.14 and a debt-to-equity ratio of 0.07.

ServiceTitan (NASDAQ:TTAN) last posted its earnings results on Thursday, December 4th. The company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.09. The company had revenue of $249.16 million for the quarter, compared to analyst estimates of $238.26 million. ServiceTitan had a negative return on equity of 10.96% and a negative net margin of 23.91%.The firm’s quarterly revenue was up 25.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.75 earnings per share. On average, research analysts expect that ServiceTitan Inc. will post -1.98 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Canaccord Genuity Group raised their target price on shares of ServiceTitan from $130.00 to $140.00 and gave the company a “buy” rating in a research note on Friday, September 19th. Raymond James Financial started coverage on ServiceTitan in a report on Friday, August 29th. They set a “market perform” rating for the company. Citigroup boosted their target price on ServiceTitan from $111.00 to $123.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 9th. Robert W. Baird upped their target price on ServiceTitan from $124.00 to $130.00 and gave the company an “outperform” rating in a research report on Friday, September 5th. Finally, Cowen reissued a “buy” rating on shares of ServiceTitan in a report on Friday, December 5th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $134.53.

Institutional Trading of ServiceTitan

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of ServiceTitan by 538.4% in the third quarter. Vanguard Group Inc. now owns 4,429,930 shares of the company’s stock valued at $446,670,000 after purchasing an additional 3,735,968 shares during the period. Kayne Anderson Rudnick Investment Management LLC increased its holdings in ServiceTitan by 1,545.2% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,055,736 shares of the company’s stock worth $195,521,000 after buying an additional 1,930,779 shares during the period. JPMorgan Chase & Co. increased its holdings in ServiceTitan by 118.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,893,959 shares of the company’s stock worth $291,798,000 after buying an additional 1,569,136 shares during the period. Invesco Ltd. raised its position in ServiceTitan by 1,388.2% during the 2nd quarter. Invesco Ltd. now owns 1,477,369 shares of the company’s stock worth $158,344,000 after buying an additional 1,378,100 shares during the last quarter. Finally, Franklin Resources Inc. lifted its stake in ServiceTitan by 148.4% during the 2nd quarter. Franklin Resources Inc. now owns 1,893,237 shares of the company’s stock valued at $202,917,000 after acquiring an additional 1,131,062 shares during the period.

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.