Ara Mahdessian Sells 51,947 Shares of ServiceTitan (NASDAQ:TTAN) Stock

ServiceTitan Inc. (NASDAQ:TTAN) CEO Ara Mahdessian sold 51,947 shares of ServiceTitan stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $80.98, for a total transaction of $4,206,668.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through 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, June 17th, Ara Mahdessian sold 3,028 shares of ServiceTitan stock. The stock was sold at an average price of $66.19, for a total transaction of $200,423.32.

ServiceTitan Stock Performance

NASDAQ:TTAN traded down $1.69 during mid-day trading on Wednesday, reaching $78.01. The stock had a trading volume of 1,203,420 shares, compared to its average volume of 1,479,449. ServiceTitan Inc. has a twelve month low of $54.17 and a twelve month high of $119.99. The business has a 50 day simple moving average of $66.63 and a 200 day simple moving average of $73.90. The firm has a market capitalization of $7.44 billion, a price-to-earnings ratio of -53.80 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, topping the consensus estimate of $0.28 by $0.09. The company had revenue of $268.82 million for 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%.The firm’s quarterly revenue was up 24.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.18 EPS. As a group, sell-side analysts expect that ServiceTitan Inc. will post -0.54 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have commented on TTAN. Needham & Company LLC restated a “buy” rating and set a $100.00 target price on shares of ServiceTitan in a research report on Wednesday, June 17th. KeyCorp reissued an “overweight” rating on shares of ServiceTitan in a report on Tuesday, May 26th. BTIG Research upped their target price on shares of ServiceTitan from $90.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, June 5th. Piper Sandler lifted their price target on shares of ServiceTitan from $100.00 to $115.00 and gave the company an “overweight” rating in a research report on Friday, June 5th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of ServiceTitan in a research note on Friday, April 24th. Fifteen research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $110.53.

Institutional Investors Weigh In On ServiceTitan

A number of large investors have recently added to or reduced their stakes in TTAN. Toth Financial Advisory Corp raised its position in ServiceTitan by 150.0% during the fourth quarter. Toth Financial Advisory Corp now owns 250 shares of the company’s stock worth $27,000 after acquiring an additional 150 shares during the last quarter. Farther Finance Advisors LLC increased its stake in shares of ServiceTitan by 189.1% during the 4th quarter. Farther Finance Advisors LLC now owns 266 shares of the company’s stock worth $28,000 after purchasing an additional 174 shares in the last quarter. eCIO Inc. acquired a new position in shares of ServiceTitan during the 4th quarter worth approximately $30,000. Elevation Wealth Partners LLC purchased a new stake in ServiceTitan in the 4th quarter valued at approximately $36,000. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in ServiceTitan by 1,005.1% in the 2nd 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 in the last quarter.

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.