Insider Selling: ServiceTitan (NASDAQ:TTAN) CAO Sells 10,000 Shares of Stock

ServiceTitan Inc. (NASDAQ:TTAN) CAO Michele O’connor sold 10,000 shares of ServiceTitan stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $69.14, for a total transaction of $691,400.00. Following the completion of the transaction, the chief accounting officer directly owned 81,890 shares of the company’s stock, valued at approximately $5,661,874.60. This trade represents a 10.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Michele O’connor also recently made the following trade(s):

• On Thursday, April 9th, Michele O’connor sold 5,000 shares of ServiceTitan stock. The stock was sold at an average price of $58.93, for a total transaction of $294,650.00.
• On Wednesday, March 18th, Michele O’connor sold 5,154 shares of ServiceTitan stock. The stock was sold at an average price of $69.86, for a total transaction of $360,058.44.

ServiceTitan Price Performance

ServiceTitan stock traded up $0.72 during midday trading on Wednesday, hitting $71.43. The company’s stock had a trading volume of 1,469,102 shares, compared to its average volume of 1,402,473. ServiceTitan Inc. has a 1-year low of $54.17 and a 1-year high of $119.99. The company has a 50-day moving average price of $63.64 and a two-hundred day moving average price of $77.79. The company has a market cap of $6.80 billion, a price-to-earnings ratio of -49.26 and a beta of 0.13.

ServiceTitan (NASDAQ:TTAN) last issued its quarterly earnings data on Thursday, June 4th. The company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.09. The business had revenue of $268.82 million during the quarter, compared to analysts’ expectations of $257.40 million. ServiceTitan had a negative net margin of 13.44% and a negative return on equity of 5.59%. The business’s revenue was up 24.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.18 EPS. Sell-side analysts forecast that ServiceTitan Inc. will post -0.62 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Piper Sandler lifted their price target on shares of ServiceTitan from $100.00 to $115.00 and gave the company an “overweight” rating in a report on Friday, June 5th. Wells Fargo & Company reduced their target price on shares of ServiceTitan from $125.00 to $115.00 and set an “overweight” rating on the stock in a report on Friday, March 13th. Canaccord Genuity Group reduced their target price on shares of ServiceTitan from $140.00 to $105.00 and set a “buy” rating on the stock in a report on Friday, March 13th. Citigroup reissued a “neutral” rating on shares of ServiceTitan in a report on Monday. Finally, Needham & Company LLC reissued a “buy” rating and set a $100.00 target price on shares of ServiceTitan in a report on Friday, June 5th. Fifteen analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $110.53.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Toth Financial Advisory Corp lifted its position in shares of ServiceTitan by 150.0% in the 4th quarter. Toth Financial Advisory Corp now owns 250 shares of the company’s stock worth $27,000 after purchasing an additional 150 shares during the period. Farther Finance Advisors LLC lifted its position in shares of ServiceTitan by 189.1% in the 4th quarter. Farther Finance Advisors LLC now owns 266 shares of the company’s stock worth $28,000 after purchasing an additional 174 shares during the period. eCIO Inc. acquired a new position in shares of ServiceTitan in the 4th quarter worth approximately $30,000. Elevation Wealth Partners LLC acquired a new position in shares of ServiceTitan in the 4th quarter worth approximately $36,000. Finally, Northwestern Mutual Wealth Management Co. lifted its position in shares of ServiceTitan by 1,005.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 431 shares of the company’s stock worth $46,000 after purchasing an additional 392 shares during the period.

ServiceTitan Company Profile

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.