ServiceTitan (NASDAQ:TTAN) President Sells $212,337.52 in Stock

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

ServiceTitan Stock Performance

NASDAQ:TTAN opened at $64.23 on Friday. ServiceTitan Inc. has a 1 year low of $54.17 and a 1 year high of $119.99. The stock has a 50-day moving average price of $64.29 and a two-hundred day moving average price of $76.65. The stock has a market cap of $6.13 billion, a price-to-earnings ratio of -44.30 and a beta of 0.13.

ServiceTitan (NASDAQ:TTAN) last released its quarterly earnings results on Thursday, June 4th. The company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.09. ServiceTitan had a negative return on equity of 5.59% and a negative net margin of 13.44%.The company had revenue of $268.82 million for the quarter, compared to analyst estimates of $257.40 million. During the same quarter last year, the firm posted $0.18 earnings per share. ServiceTitan’s revenue was up 24.6% compared to the same quarter last year. Sell-side analysts forecast that ServiceTitan Inc. will post -0.54 earnings per share for the current year.

Hedge Funds Weigh In On ServiceTitan

Large investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of ServiceTitan by 538.4% in the third quarter. Vanguard Group Inc. now owns 4,429,930 shares of the company’s stock valued at $446,670,000 after purchasing an additional 3,735,968 shares during the last quarter. JPMorgan Chase & Co. boosted 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 purchasing 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. bought a new position in ServiceTitan in the third quarter valued at $84,983,000. Finally, Fuller & Thaler Asset Management Inc. bought a new position in ServiceTitan in the fourth quarter valued at $89,702,000.

Analyst Ratings Changes

TTAN has been the topic of several research analyst reports. Piper Sandler raised their target price on shares of ServiceTitan from $100.00 to $115.00 and gave the stock an “overweight” rating in a report on Friday, June 5th. William Blair reissued an “outperform” rating on shares of ServiceTitan in a research report on Friday, March 13th. Wells Fargo & Company lowered their price objective on shares of ServiceTitan from $125.00 to $115.00 and set an “overweight” rating for the company in a research report on Friday, March 13th. Citigroup restated a “neutral” rating on shares of ServiceTitan in a report on Monday, June 8th. Finally, KeyCorp reaffirmed an “overweight” rating on shares of ServiceTitan in a research report on Tuesday, May 26th. Fifteen research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock 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.