ServiceTitan (NASDAQ:TTAN) CEO Ara Mahdessian Sells 41,073 Shares of Company Stock

ServiceTitan Inc. (NASDAQ:TTAN) CEO Ara Mahdessian sold 41,073 shares of ServiceTitan stock in a transaction that occurred on Thursday, November 5th. The stock was sold at an average price of $83.78, for a total transaction of $3,441,095.94. The transaction was disclosed in a filing with the SEC, which is available through 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 Wednesday, November 4th, Ara Mahdessian sold 63,927 shares of ServiceTitan stock. The stock was sold at an average price of $87.38, for a total value of $5,585,941.26.
• On Thursday, September 17th, Ara Mahdessian sold 3,148 shares of ServiceTitan stock. The stock was sold at an average price of $57.07, for a total value of $179,656.36.

ServiceTitan Stock Down 6.3%

TTAN stock opened at $82.21 on Friday. The firm has a market cap of $7.93 billion, a PE ratio of -60.45 and a beta of 0.09. The business has a 50 day moving average of $74.19 and a 200-day moving average of $72.47. ServiceTitan Inc. has a 12-month low of $53.00 and a 12-month high of $111.36.

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

Institutional Trading of ServiceTitan

Several hedge funds have recently made changes to their positions in TTAN. Madison Asset Management LLC lifted its position in shares of ServiceTitan by 41.1% during the 1st quarter. Madison Asset Management LLC now owns 900,112 shares of the company’s stock valued at $57,121,000 after buying an additional 262,037 shares during the last quarter. Janus Henderson Group PLC increased its holdings in ServiceTitan by 1.5% in the 1st quarter. Janus Henderson Group PLC now owns 783,560 shares of the company’s stock worth $49,724,000 after acquiring an additional 11,362 shares during the last quarter. Royal Bank of Canada increased its holdings in ServiceTitan by 36.1% in the 1st quarter. Royal Bank of Canada now owns 433,122 shares of the company’s stock worth $27,485,000 after acquiring an additional 114,859 shares during the last quarter. Jennison Associates LLC raised its stake in ServiceTitan by 235.3% in the 1st quarter. Jennison Associates LLC now owns 380,468 shares of the company’s stock valued at $24,145,000 after acquiring an additional 267,002 shares during the period. Finally, Wellington Management Group LLP raised its stake in ServiceTitan by 258.7% in the 2nd quarter. Wellington Management Group LLP now owns 316,695 shares of the company’s stock valued at $22,394,000 after acquiring an additional 228,417 shares during the period.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. KeyCorp reissued an “overweight” rating on shares of ServiceTitan in a report on Thursday, October 8th. Citigroup decreased their price objective on shares of ServiceTitan from $83.00 to $76.00 and set a “neutral” rating for the company in a report on Wednesday, September 9th. Stifel Nicolaus decreased their price objective on shares of ServiceTitan from $125.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, September 9th. Piper Sandler lowered their price objective on shares of ServiceTitan from $115.00 to $110.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 9th. Finally, Robert W. Baird dropped their target price on shares of ServiceTitan from $101.00 to $85.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 9th. Fourteen investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, ServiceTitan has a consensus rating of “Moderate Buy” and a consensus price target of $96.38.

ServiceTitan Company Profile

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.