Insider Selling: ServiceTitan (NASDAQ:TTAN) CFO Sells $85,600.36 in Stock

ServiceTitan Inc. (NASDAQ:TTAN) CFO David Sherry sold 1,138 shares of the company’s stock in a transaction dated Thursday, October 15th. The stock was sold at an average price of $75.22, for a total value of $85,600.36. Following the sale, the chief financial officer owned 362,373 shares in the company, valued at $27,257,697.06. The trade was a 0.31% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

David Sherry also recently made the following trade(s):

• On Thursday, September 17th, David Sherry sold 23,246 shares of ServiceTitan stock. The shares were sold at an average price of $57.07, for a total value of $1,326,649.22.
• On Friday, August 14th, David Sherry sold 9,000 shares of ServiceTitan stock. The shares were sold at an average price of $90.83, for a total value of $817,470.00.

ServiceTitan Stock Up 2.0%

TTAN stock opened at $82.32 on Thursday. The company has a market cap of $7.94 billion, a price-to-earnings ratio of -60.53 and a beta of 0.33. ServiceTitan Inc. has a twelve month low of $53.00 and a twelve month high of $111.36. The business has a 50 day moving average price of $76.09 and a two-hundred day moving average price of $71.87.

ServiceTitan (NASDAQ:TTAN) last announced its quarterly earnings data on Tuesday, September 8th. The company reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.05. The company had revenue of $292.76 million for the quarter, compared to analysts’ expectations of $285.89 million. ServiceTitan had a negative return on equity of 5.65% and a negative net margin of 12.12%. The business’s revenue was up 20.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.33 EPS. On average, equities research analysts anticipate that ServiceTitan Inc. will post -0.55 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. BTIG Research restated a “buy” rating and set a $110.00 target price on shares of ServiceTitan in a report on Friday, October 2nd. Robert W. Baird cut their price target on shares of ServiceTitan from $101.00 to $85.00 and set an “outperform” rating for the company in a research note on Wednesday, September 9th. Evercore set a $90.00 price target on shares of ServiceTitan in a research note on Wednesday, September 9th. Truist Financial reissued a “buy” rating and issued a $100.00 price objective (down from $110.00) on shares of ServiceTitan in a research report on Wednesday, September 9th. Finally, Stifel Nicolaus lowered their price objective on shares of ServiceTitan from $125.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, September 9th. Fourteen research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $96.38.

Institutional Investors Weigh In On ServiceTitan

Several hedge funds have recently added to or reduced their stakes in the business. Elevation Wealth Partners LLC increased its holdings in shares of ServiceTitan by 20.0% in the second quarter. Elevation Wealth Partners LLC now owns 863 shares of the company’s stock valued at $61,000 after purchasing an additional 144 shares during the last quarter. Farther Finance Advisors LLC raised its position in shares of ServiceTitan by 98.5% in the third quarter. Farther Finance Advisors LLC now owns 526 shares of the company’s stock valued at $35,000 after purchasing an additional 261 shares during the period. Pension & Wealth Management Advisors Inc. raised its position in shares of ServiceTitan by 14.4% in the third quarter. Pension & Wealth Management Advisors Inc. now owns 2,481 shares of the company’s stock valued at $163,000 after purchasing an additional 312 shares during the period. Diversify Advisory Services LLC lifted its stake in shares of ServiceTitan by 8.4% during the 3rd quarter. Diversify Advisory Services LLC now owns 4,164 shares of the company’s stock worth $274,000 after buying an additional 321 shares during the last quarter. Finally, First Bank & Trust lifted its stake in shares of ServiceTitan by 10.6% during the 3rd quarter. First Bank & Trust now owns 4,895 shares of the company’s stock worth $322,000 after buying an additional 469 shares during the last quarter.

About ServiceTitan

ServiceTitan, Inc provides cloud-based software designed to help residential and commercial trade contractors manage and grow their businesses. Its platform serves industries including heating, ventilation and air conditioning, plumbing, electrical, roofing, and other field-service trades.

The company’s software supports core operations such as customer relationship management, marketing, scheduling, dispatching, estimates, invoicing, payments, inventory management, purchasing, payroll, and business reporting.