ServiceTitan (NASDAQ:TTAN) CEO Ara Mahdessian Sells 49,766 Shares

ServiceTitan Inc. (NASDAQ:TTAN) CEO Ara Mahdessian sold 49,766 shares of the business’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $84.75, for a total transaction of $4,217,668.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Ara Mahdessian also recently made the following trade(s):

• On Tuesday, August 4th, Ara Mahdessian sold 38,287 shares of ServiceTitan stock. The shares were sold at an average price of $84.89, for a total value of $3,250,183.43.
• On Tuesday, July 7th, Ara Mahdessian sold 51,947 shares of ServiceTitan stock. The shares were sold at an average price of $80.98, for a total value 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 value of $200,423.32.

ServiceTitan Stock Performance

NASDAQ:TTAN opened at $86.50 on Thursday. The stock has a market cap of $8.25 billion, a price-to-earnings ratio of -59.65 and a beta of 0.02. ServiceTitan Inc. has a one year low of $54.17 and a one year high of $119.99. The business’s 50-day simple moving average is $73.78 and its 200 day simple moving average is $69.94.

ServiceTitan (NASDAQ:TTAN) last issued its quarterly earnings data on Thursday, June 4th. The company reported $0.37 earnings per share for the quarter, beating 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 firm had revenue of $268.82 million during the quarter, compared to analyst estimates of $257.40 million. During the same quarter last year, the firm earned $0.18 EPS. ServiceTitan’s quarterly revenue was up 24.6% on a year-over-year basis. On average, equities research analysts predict that ServiceTitan Inc. will post -0.54 EPS for the current year.

Institutional Investors Weigh In On ServiceTitan

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in shares of ServiceTitan by 9.9% in the fourth quarter. Vanguard Group Inc. now owns 4,869,009 shares of the company’s stock worth $518,549,000 after buying an additional 439,079 shares during the period. Renaissance Capital LLC raised its position in ServiceTitan by 222.8% during the fourth quarter. Renaissance Capital LLC now owns 41,223 shares of the company’s stock valued at $4,390,000 after buying an additional 28,454 shares during the period. Comerica Bank lifted its stake in ServiceTitan by 372.3% in the 4th quarter. Comerica Bank now owns 26,513 shares of the company’s stock worth $2,824,000 after acquiring an additional 20,899 shares in the last quarter. Robeco Schweiz AG lifted its stake in ServiceTitan by 35.3% in the 4th quarter. Robeco Schweiz AG now owns 83,200 shares of the company’s stock worth $8,861,000 after acquiring an additional 21,700 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. boosted its position in ServiceTitan by 12,542.7% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 31,101 shares of the company’s stock worth $3,165,000 after acquiring an additional 30,855 shares during the period.

Analyst Ratings Changes

A number of analysts recently issued reports on TTAN shares. KeyCorp restated an “overweight” rating on shares of ServiceTitan in a research note on Tuesday, May 26th. BMO Capital Markets increased their price objective on shares of ServiceTitan from $92.00 to $103.00 and gave the company an “outperform” rating in a research note on Friday, June 5th. BTIG Research reissued a “buy” rating and issued a $110.00 target price on shares of ServiceTitan in a research report on Friday, July 10th. Needham & Company LLC restated a “buy” rating and issued a $100.00 target price on shares of ServiceTitan in a research note on Wednesday, June 17th. Finally, Citigroup reaffirmed a “neutral” rating on shares of ServiceTitan in a research report on Monday, June 8th. Fifteen investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average 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.