Vahe Kuzoyan Sells 3,208 Shares of ServiceTitan (NASDAQ:TTAN) Stock

ServiceTitan Inc. (NASDAQ:TTAN) President Vahe Kuzoyan sold 3,208 shares of the company’s stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $66.19, for a total transaction of $212,337.52. Following the transaction, the president directly owned 1 shares of the company’s stock, valued at approximately $66.19. This trade represents a 99.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

ServiceTitan Price Performance

NASDAQ TTAN opened at $64.23 on Friday. The stock has a market capitalization of $6.13 billion, a PE ratio of -44.30 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 business’s 50-day moving average is $64.25 and its 200 day moving average is $76.74.

ServiceTitan (NASDAQ:TTAN) last announced its quarterly earnings results on Thursday, June 4th. The company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.09. The company had revenue of $268.82 million for the quarter, compared to the consensus estimate 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 was up 24.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.18 EPS. As a group, equities research analysts anticipate that ServiceTitan Inc. will post -0.54 earnings per share for the current year.

Institutional Investors Weigh In On ServiceTitan

Several hedge funds have recently made changes to their positions in the company. Woodline Partners LP grew its stake in ServiceTitan by 4.6% in the first quarter. Woodline Partners LP now owns 2,141 shares of the company’s stock worth $204,000 after purchasing an additional 95 shares during the period. Cetera Investment Advisers bought a new position in ServiceTitan in the second quarter worth $345,000. Russell Investments Group Ltd. purchased a new position in ServiceTitan during the second quarter valued at $500,000. Northwestern Mutual Wealth Management Co. lifted its position in ServiceTitan by 1,005.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 431 shares of the company’s stock valued at $46,000 after buying an additional 392 shares during the period. Finally, Arrowstreet Capital Limited Partnership bought a new stake in shares of ServiceTitan during the 2nd quarter valued at $393,000.

Analysts Set New Price Targets

A number of equities analysts recently commented on TTAN shares. Weiss Ratings restated a “sell (e+)” rating on shares of ServiceTitan in a report on Friday, April 24th. Truist Financial reissued a “buy” rating and set a $110.00 price objective (up from $100.00) on shares of ServiceTitan in a research report on Friday, June 5th. Robert W. Baird upped their price objective on shares of ServiceTitan from $75.00 to $94.00 and gave the stock an “outperform” rating in a report on Monday, June 8th. Stifel Nicolaus set a $125.00 target price on shares of ServiceTitan in a research report on Wednesday, May 27th. Finally, Citigroup reaffirmed a “neutral” rating on shares of ServiceTitan in a research note on Monday, June 8th. Fifteen research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $110.53.

About ServiceTitan

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.