NewEdge Wealth LLC Has $3.01 Million Position in ServiceTitan Inc. $TTAN

NewEdge Wealth LLC increased its holdings in shares of ServiceTitan Inc. (NASDAQ:TTAN) by 35.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,371 shares of the company’s stock after purchasing an additional 12,416 shares during the period. NewEdge Wealth LLC owned approximately 0.05% of ServiceTitan worth $3,006,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Toth Financial Advisory Corp increased its stake in ServiceTitan by 150.0% during the 4th quarter. Toth Financial Advisory Corp now owns 250 shares of the company’s stock worth $27,000 after purchasing an additional 150 shares in the last quarter. Farther Finance Advisors LLC increased its position in shares of ServiceTitan by 189.1% during the fourth quarter. Farther Finance Advisors LLC now owns 266 shares of the company’s stock worth $28,000 after acquiring an additional 174 shares in the last quarter. eCIO Inc. acquired a new stake in shares of ServiceTitan during the fourth quarter worth $30,000. Northwestern Mutual Wealth Management Co. raised its holdings in shares of ServiceTitan by 1,005.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 431 shares of the company’s stock worth $46,000 after acquiring an additional 392 shares during the period. Finally, Sunbelt Securities Inc. lifted its position in ServiceTitan by 391.0% in the 4th quarter. Sunbelt Securities Inc. now owns 491 shares of the company’s stock valued at $52,000 after acquiring an additional 391 shares in the last quarter.

ServiceTitan Stock Performance

Shares of NASDAQ TTAN opened at $70.48 on Friday. The stock has a 50 day moving average price of $70.67 and a 200 day moving average price of $71.26. The stock has a market capitalization of $6.72 billion, a PE ratio of -48.61 and a beta of 0.13. ServiceTitan Inc. has a 52 week low of $54.17 and a 52 week high of $119.99.

ServiceTitan (NASDAQ:TTAN) last posted its quarterly earnings results on Thursday, June 4th. The company reported $0.37 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $257.40 million. During the same quarter in the previous year, the firm earned $0.18 EPS. The business’s quarterly revenue was up 24.6% on a year-over-year basis. As a group, research analysts forecast that ServiceTitan Inc. will post -0.54 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on TTAN. Stifel Nicolaus set a $125.00 target price on shares of ServiceTitan in a research note on Wednesday, May 27th. Robert W. Baird lifted their price target on ServiceTitan from $75.00 to $94.00 and gave the company an “outperform” rating in a research note on Monday, June 8th. BMO Capital Markets boosted their price target on ServiceTitan from $92.00 to $103.00 and gave the company an “outperform” rating in a report on Friday, June 5th. UBS Group reaffirmed a “buy” rating on shares of ServiceTitan in a research report on Wednesday. Finally, Needham & Company LLC reiterated a “buy” rating and set a $100.00 price objective on shares of ServiceTitan in a report on Wednesday, June 17th. Fifteen investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, ServiceTitan presently has a consensus rating of “Moderate Buy” and a consensus target price of $110.53.

Insiders Place Their Bets

In other ServiceTitan news, Director William J.G. Griffith sold 94,415 shares of the company’s stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $63.43, for a total transaction of $5,988,743.45. Following the sale, the director directly owned 443,221 shares of the company’s stock, valued at approximately $28,113,508.03. This represents a 17.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Iconiq Strategic Partners V, L sold 94,415 shares of the stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $63.43, for a total transaction of $5,988,743.45. Following the completion of the sale, the insider owned 443,221 shares of the company’s stock, valued at approximately $28,113,508.03. This represents a 17.56% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 296,664 shares of company stock valued at $19,958,797 in the last ninety days. 39.89% of the stock is currently owned by insiders.

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.