ServiceTitan (NASDAQ:TTAN) CAO Michele O’connor Sells 10,000 Shares

ServiceTitan Inc. (NASDAQ:TTAN) CAO Michele O’connor sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 9th. The stock was 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 owned 81,890 shares in the company, valued at $5,661,874.60. This trade represents a 10.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

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 Stock Performance

Shares of NASDAQ TTAN traded up $0.72 during midday trading on Wednesday, reaching $71.43. The stock had a trading volume of 1,469,102 shares, compared to its average volume of 1,402,473. ServiceTitan Inc. has a twelve month low of $54.17 and a twelve month high of $119.99. The company’s 50 day moving average price is $63.64 and its 200 day moving average price is $77.79. The firm 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 released its 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. ServiceTitan had a negative net margin of 13.44% and a negative return on equity of 5.59%. The company had revenue of $268.82 million for the quarter, compared to the consensus estimate of $257.40 million. During the same quarter in the previous year, the company earned $0.18 EPS. ServiceTitan’s quarterly revenue was up 24.6% compared to the same quarter last year. Equities analysts forecast that ServiceTitan Inc. will post -0.62 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of TTAN. Vanguard Group Inc. raised its holdings in ServiceTitan by 538.4% during the third quarter. Vanguard Group Inc. now owns 4,429,930 shares of the company’s stock worth $446,670,000 after buying an additional 3,735,968 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in ServiceTitan by 118.4% during the third 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 last quarter. Norges Bank acquired a new position in ServiceTitan during the fourth quarter worth $112,678,000. CIBC Bancorp USA Inc. acquired a new position in ServiceTitan during the third quarter worth $84,983,000. Finally, Fuller & Thaler Asset Management Inc. bought a new stake in shares of ServiceTitan in the 4th quarter worth $89,702,000.

Analyst Ratings Changes

A number of research firms recently issued reports on TTAN. Stifel Nicolaus set a $125.00 target price on shares of ServiceTitan in a research report on Wednesday, May 27th. Needham & Company LLC reiterated a “buy” rating and set a $100.00 target price on shares of ServiceTitan in a research report on Friday, June 5th. Canaccord Genuity Group dropped their target price on shares of ServiceTitan from $140.00 to $105.00 and set a “buy” rating on the stock in a research report on Friday, March 13th. KeyCorp restated an “overweight” rating on shares of ServiceTitan in a report on Tuesday, May 26th. Finally, 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. Fifteen investment 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. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price 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.