ServiceTitan (NASDAQ:TTAN) CAO Michele O’connor Sells 10,000 Shares of Stock

ServiceTitan Inc. (NASDAQ:TTAN) CAO Michele O’connor sold 10,000 shares of the stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $69.14, for a total transaction of $691,400.00. Following the completion of the sale, the chief accounting officer directly owned 81,890 shares of the company’s stock, valued at $5,661,874.60. This represents a 10.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Michele O’connor also recently made the following trade(s):

• On Thursday, April 9th, Michele O’connor sold 5,000 shares of ServiceTitan stock. The stock was sold at an average price of $58.93, for a total transaction of $294,650.00.
• On Wednesday, March 18th, Michele O’connor sold 5,154 shares of ServiceTitan stock. The stock was sold at an average price of $69.86, for a total transaction of $360,058.44.

ServiceTitan Trading Up 1.0%

ServiceTitan stock opened at $71.39 on Thursday. The firm has a 50 day moving average of $63.86 and a 200 day moving average of $77.69. The firm has a market capitalization of $6.80 billion, a price-to-earnings ratio of -49.23 and a beta of 0.13. ServiceTitan Inc. has a 12-month low of $54.17 and a 12-month high of $119.99.

ServiceTitan (NASDAQ:TTAN) last released its earnings results on Thursday, June 4th. The company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.09. The company had revenue of $268.82 million during the quarter, compared to analyst estimates of $257.40 million. ServiceTitan had a negative net margin of 13.44% and a negative return on equity of 5.59%. The firm’s quarterly revenue was up 24.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.18 EPS. On average, analysts predict that ServiceTitan Inc. will post -0.62 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on TTAN. Needham & Company LLC restated a “buy” rating and issued a $100.00 price target on shares of ServiceTitan in a research note on Friday, June 5th. KeyCorp restated an “overweight” rating on shares of ServiceTitan in a research note on Tuesday, May 26th. Truist Financial restated a “buy” rating and issued a $110.00 price target (up from $100.00) on shares of ServiceTitan in a research note on Friday, June 5th. Stifel Nicolaus set a $125.00 price target on ServiceTitan in a research note on Wednesday, May 27th. Finally, Canaccord Genuity Group dropped their price target on ServiceTitan from $140.00 to $105.00 and set a “buy” rating for the company in a research note on Friday, March 13th. Fifteen research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $110.53.

Institutional Trading of ServiceTitan

Several hedge funds have recently modified their holdings of TTAN. Vanguard Group Inc. raised its holdings in shares of ServiceTitan by 538.4% during the 3rd quarter. Vanguard Group Inc. now owns 4,429,930 shares of the company’s stock worth $446,670,000 after acquiring an additional 3,735,968 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of ServiceTitan by 118.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,893,959 shares of the company’s stock worth $291,798,000 after acquiring an additional 1,569,136 shares in the last quarter. Norges Bank purchased a new stake in shares of ServiceTitan during the 4th quarter worth approximately $112,678,000. CIBC Bancorp USA Inc. purchased a new stake in shares of ServiceTitan during the 3rd quarter worth approximately $84,983,000. Finally, Fuller & Thaler Asset Management Inc. purchased a new stake in shares of ServiceTitan during the 4th quarter worth approximately $89,702,000.

ServiceTitan Company Profile

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.