ServiceTitan (NASDAQ:TTAN) CEO Sells 38,287 Shares of Stock

ServiceTitan Inc. (NASDAQ:TTAN) CEO Ara Mahdessian sold 38,287 shares of the company’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $84.89, for a total value of $3,250,183.43. The sale was disclosed in a document filed 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 Monday, August 3rd, Ara Mahdessian sold 49,766 shares of ServiceTitan stock. The stock was sold at an average price of $84.75, for a total transaction of $4,217,668.50.
• On Tuesday, July 7th, Ara Mahdessian sold 51,947 shares of ServiceTitan stock. The stock was sold at an average price of $80.98, for a total transaction of $4,206,668.06.
• 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 Price Performance

Shares of ServiceTitan stock traded up $0.26 during trading hours on Wednesday, hitting $86.50. The company had a trading volume of 821,845 shares, compared to its average volume of 1,462,982. The company’s 50-day moving average is $73.31 and its two-hundred day moving average is $69.97. The company has a market cap of $8.25 billion, a P/E ratio of -59.65 and a beta of 0.02. ServiceTitan Inc. has a twelve month low of $54.17 and a twelve month high of $119.99.

ServiceTitan (NASDAQ:TTAN) last announced its quarterly earnings results on Thursday, June 4th. The company reported $0.37 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $268.82 million for the quarter, compared to analyst estimates of $257.40 million. During the same period last year, the business earned $0.18 EPS. ServiceTitan’s revenue for the quarter was up 24.6% compared to the same quarter last year. Sell-side analysts expect that ServiceTitan Inc. will post -0.54 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on TTAN. BMO Capital Markets boosted their target price on ServiceTitan from $92.00 to $103.00 and gave the company an “outperform” rating in a report on Friday, June 5th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of ServiceTitan in a research report on Tuesday, July 21st. Stifel Nicolaus set a $125.00 price objective on ServiceTitan in a research note on Wednesday, May 27th. Citigroup reissued a “neutral” rating on shares of ServiceTitan in a report on Monday, June 8th. Finally, 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 research report on Friday, June 5th. Fifteen equities 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 company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $110.53.

Institutional Investors Weigh In On ServiceTitan

Several hedge funds have recently made changes to their positions in TTAN. First Bank & Trust increased its position in ServiceTitan by 24.2% in the 2nd quarter. First Bank & Trust now owns 4,426 shares of the company’s stock valued at $313,000 after acquiring an additional 862 shares during the period. Elevation Wealth Partners LLC lifted its position in ServiceTitan by 20.0% during the 2nd quarter. Elevation Wealth Partners LLC now owns 863 shares of the company’s stock worth $61,000 after acquiring an additional 144 shares during the period. Janus Henderson Group PLC grew its stake in shares of ServiceTitan by 1.5% in the 1st quarter. Janus Henderson Group PLC now owns 783,560 shares of the company’s stock valued at $49,724,000 after purchasing an additional 11,362 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of ServiceTitan by 75.1% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,586 shares of the company’s stock valued at $101,000 after purchasing an additional 680 shares during the last quarter. Finally, California State Teachers Retirement System increased its holdings in shares of ServiceTitan by 196.7% in the first quarter. California State Teachers Retirement System now owns 63,324 shares of the company’s stock valued at $4,019,000 after purchasing an additional 41,983 shares during the period.

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.