ServiceTitan Inc. $TTAN Shares Sold by Mosaic Family Wealth Partners LLC

Mosaic Family Wealth Partners LLC trimmed its position in ServiceTitan Inc. (NASDAQ:TTAN) by 50.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 44,308 shares of the company’s stock after selling 45,720 shares during the period. ServiceTitan comprises about 0.5% of Mosaic Family Wealth Partners LLC’s investment portfolio, making the stock its 24th largest position. Mosaic Family Wealth Partners LLC’s holdings in ServiceTitan were worth $4,563,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Cloud Capital Management LLC purchased a new position in shares of ServiceTitan during the third quarter valued at approximately $25,000. Northwestern Mutual Wealth Management Co. lifted its stake in shares of ServiceTitan by 1,005.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 431 shares of the company’s stock worth $46,000 after purchasing an additional 392 shares during the period. Whittier Trust Co. purchased a new position in shares of ServiceTitan during the 3rd quarter worth $52,000. PNC Financial Services Group Inc. acquired a new stake in shares of ServiceTitan during the second quarter worth $79,000. Finally, EverSource Wealth Advisors LLC purchased a new stake in shares of ServiceTitan in the second quarter valued at $94,000.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. KeyCorp reiterated an “overweight” rating on shares of ServiceTitan in a research report on Tuesday, December 16th. Wells Fargo & Company cut their price objective on shares of ServiceTitan from $140.00 to $125.00 and set an “overweight” rating on the stock in a report on Wednesday, February 4th. BMO Capital Markets boosted their target price on shares of ServiceTitan from $115.00 to $125.00 and gave the company an “outperform” rating in a report on Friday, December 5th. The Goldman Sachs Group began coverage on shares of ServiceTitan in a research note on Tuesday, January 13th. They set a “neutral” rating and a $117.00 price target on the stock. Finally, Piper Sandler lowered their price objective on shares of ServiceTitan from $140.00 to $120.00 and set an “overweight” rating for the company in a research note on Monday, February 2nd. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $133.13.

Insider Buying and Selling

In other ServiceTitan news, CFO David Sherry sold 833 shares of the firm’s stock in a transaction dated Tuesday, January 20th. The stock was sold at an average price of $91.30, for a total value of $76,052.90. Following the transaction, the chief financial officer directly owned 330,948 shares of the company’s stock, valued at $30,215,552.40. This trade represents a 0.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Ara Mahdessian sold 32,000 shares of the company’s stock in a transaction dated Wednesday, January 14th. The stock was sold at an average price of $98.50, for a total value of $3,152,000.00. The SEC filing for this sale provides additional information. Insiders have sold a total of 216,371 shares of company stock valued at $22,700,994 in the last 90 days. 51.72% of the stock is currently owned by company insiders.

ServiceTitan Trading Down 1.6%

NASDAQ TTAN opened at $72.39 on Friday. The firm has a market capitalization of $6.78 billion, a price-to-earnings ratio of -17.74 and a beta of -0.86. The company has a debt-to-equity ratio of 0.07, a quick ratio of 4.14 and a current ratio of 4.14. ServiceTitan Inc. has a one year low of $58.01 and a one year high of $131.33. The company’s 50 day moving average price is $85.45 and its 200 day moving average price is $95.39.

ServiceTitan (NASDAQ:TTAN) last released its quarterly earnings data on Thursday, December 4th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.09. ServiceTitan had a negative net margin of 23.91% and a negative return on equity of 10.96%. The company had revenue of $249.16 million during the quarter, compared to the consensus estimate of $238.26 million. During the same period in the previous year, the firm earned $0.75 earnings per share. ServiceTitan’s revenue for the quarter was up 25.0% on a year-over-year basis. On average, sell-side analysts predict that ServiceTitan Inc. will post -1.98 EPS for the current year.

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.