ServiceTitan (NASDAQ:TTAN) CEO Sells 41,073 Shares of Company Stock

ServiceTitan Inc. (NASDAQ:TTAN) CEO Ara Mahdessian sold 41,073 shares of the stock in a transaction dated Thursday, November 5th. The shares were sold at an average price of $83.78, for a total transaction of $3,441,095.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Wednesday, November 4th, Ara Mahdessian sold 63,927 shares of ServiceTitan stock. The stock was sold at an average price of $87.38, for a total transaction of $5,585,941.26.
• On Thursday, September 17th, Ara Mahdessian sold 3,148 shares of ServiceTitan stock. The stock was sold at an average price of $57.07, for a total transaction of $179,656.36.

ServiceTitan Price Performance

NASDAQ TTAN traded down $5.55 during trading hours on Thursday, hitting $82.21. 1,576,316 shares of the company’s stock traded hands, compared to its average volume of 1,516,832. ServiceTitan Inc. has a 52-week low of $53.00 and a 52-week high of $111.36. The company has a market capitalization of $7.93 billion, a PE ratio of -60.45 and a beta of 0.09. The firm’s 50-day moving average is $74.19 and its 200-day moving average is $72.47.

ServiceTitan (NASDAQ:TTAN) last released its quarterly earnings data on Tuesday, September 8th. The company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.05. ServiceTitan had a negative net margin of 12.12% and a negative return on equity of 5.65%. The company had revenue of $292.76 million during the quarter, compared to the consensus estimate of $285.89 million. During the same quarter in the prior year, the firm earned $0.33 EPS. ServiceTitan’s quarterly revenue was up 20.9% on a year-over-year basis. Equities research analysts predict that ServiceTitan Inc. will post -0.55 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently commented on TTAN. Wells Fargo & Company cut their price target on ServiceTitan from $115.00 to $105.00 and set an “overweight” rating for the company in a report on Wednesday, September 9th. UBS Group set a $100.00 price objective on ServiceTitan in a research note on Wednesday, September 9th. Canaccord Genuity Group dropped their target price on ServiceTitan from $105.00 to $90.00 and set a “buy” rating for the company in a report on Wednesday, September 9th. Weiss Ratings upgraded ServiceTitan from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, September 29th. Finally, TD Cowen reissued a “buy” rating and set a $100.00 price target on shares of ServiceTitan in a research report on Wednesday, October 7th. Fourteen investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $96.38.

Institutional Trading of ServiceTitan

Hedge funds have recently made changes to their positions in the company. Parallel Advisors LLC raised its position in shares of ServiceTitan by 8.0% during the 3rd quarter. Parallel Advisors LLC now owns 1,882 shares of the company’s stock valued at $124,000 after buying an additional 139 shares during the period. Elevation Wealth Partners LLC lifted its holdings in ServiceTitan by 20.0% in the second quarter. Elevation Wealth Partners LLC now owns 863 shares of the company’s stock valued at $61,000 after acquiring an additional 144 shares during the last quarter. Farther Finance Advisors LLC grew its position in ServiceTitan by 98.5% in the third quarter. Farther Finance Advisors LLC now owns 526 shares of the company’s stock worth $35,000 after acquiring an additional 261 shares during the period. MGO One Seven LLC grew its position in ServiceTitan by 7.6% in the third quarter. MGO One Seven LLC now owns 4,363 shares of the company’s stock worth $287,000 after acquiring an additional 307 shares during the period. Finally, Pension & Wealth Management Advisors Inc. grew its position in ServiceTitan by 14.4% in the third quarter. Pension & Wealth Management Advisors Inc. now owns 2,481 shares of the company’s stock worth $163,000 after acquiring an additional 312 shares during the period.

ServiceTitan Company Profile

ServiceTitan, Inc provides cloud-based software designed to help residential and commercial trade contractors manage and grow their businesses. Its platform serves industries including heating, ventilation and air conditioning, plumbing, electrical, roofing, and other field-service trades.

The company’s software supports core operations such as customer relationship management, marketing, scheduling, dispatching, estimates, invoicing, payments, inventory management, purchasing, payroll, and business reporting.