ServiceTitan (NASDAQ:TTAN) CEO Sells 51,947 Shares

ServiceTitan Inc. (NASDAQ:TTAN) CEO Ara Mahdessian sold 51,947 shares of the company’s stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $80.98, for a total transaction of $4,206,668.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Ara Mahdessian also recently made the following trade(s):

• On Wednesday, June 17th, Ara Mahdessian sold 3,028 shares of ServiceTitan stock. The shares were sold at an average price of $66.19, for a total value of $200,423.32.

ServiceTitan Price Performance

Shares of TTAN stock traded down $1.69 on Wednesday, hitting $78.01. The stock had a trading volume of 1,203,420 shares, compared to its average volume of 1,479,449. The firm has a market capitalization of $7.44 billion, a P/E ratio of -53.80 and a beta of 0.13. ServiceTitan Inc. has a 1 year low of $54.17 and a 1 year high of $119.99. The company’s 50 day moving average price is $66.63 and its 200-day moving average price is $73.90.

ServiceTitan (NASDAQ:TTAN) last announced its earnings results on Thursday, June 4th. The company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.09. The company had revenue of $268.82 million during the quarter, compared to analysts’ expectations of $257.40 million. ServiceTitan had a negative return on equity of 5.59% and a negative net margin of 13.44%.ServiceTitan’s revenue for the quarter was up 24.6% on a year-over-year basis. During the same period last year, the business posted $0.18 EPS. On average, equities analysts forecast that ServiceTitan Inc. will post -0.54 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in TTAN. Elevation Wealth Partners LLC lifted its position in ServiceTitan by 20.0% during the 2nd quarter. Elevation Wealth Partners LLC now owns 863 shares of the company’s stock worth $61,000 after acquiring an additional 144 shares during the period. Janus Henderson Group PLC increased its holdings in shares of ServiceTitan by 1.5% in the first quarter. Janus Henderson Group PLC now owns 783,560 shares of the company’s stock valued at $49,724,000 after purchasing an additional 11,362 shares during the period. EverSource Wealth Advisors LLC raised its stake in shares of ServiceTitan by 75.1% during the first quarter. EverSource Wealth Advisors LLC now owns 1,586 shares of the company’s stock worth $101,000 after purchasing an additional 680 shares during the last quarter. California State Teachers Retirement System lifted its holdings in shares of ServiceTitan by 196.7% during the first quarter. California State Teachers Retirement System now owns 63,324 shares of the company’s stock worth $4,019,000 after purchasing an additional 41,983 shares during the period. Finally, Royal Bank of Canada lifted its holdings in shares of ServiceTitan by 36.1% during the first quarter. Royal Bank of Canada now owns 433,122 shares of the company’s stock worth $27,485,000 after purchasing an additional 114,859 shares during the period.

Analysts Set New Price Targets

Several equities research analysts have weighed in on TTAN shares. Stifel Nicolaus set a $125.00 price target on ServiceTitan in a report on Wednesday, May 27th. BMO Capital Markets raised their target price on shares of ServiceTitan from $92.00 to $103.00 and gave the company an “outperform” rating in a report on Friday, June 5th. Weiss Ratings reiterated a “sell (e+)” rating on shares of ServiceTitan in a research note on Friday, April 24th. Citigroup reiterated a “neutral” rating on shares of ServiceTitan in a report on Monday, June 8th. Finally, The Goldman Sachs Group reduced their price objective on shares of ServiceTitan from $117.00 to $84.00 and set a “neutral” rating on the stock in a report on Monday, March 16th. Fifteen investment 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 presently has a consensus rating of “Moderate Buy” and a consensus price target of $110.53.

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.