David Sherry Sells 20,192 Shares of ServiceTitan (NASDAQ:TTAN) Stock

ServiceTitan Inc. (NASDAQ:TTAN) CFO David Sherry sold 20,192 shares of the company’s stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $66.19, for a total value of $1,336,508.48. Following the completion of the sale, the chief financial officer owned 398,033 shares of the company’s stock, valued at $26,345,804.27. This represents a 4.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

ServiceTitan Price Performance

Shares of ServiceTitan stock traded down $4.12 during trading hours on Wednesday, hitting $62.45. The company’s stock had a trading volume of 1,682,041 shares, compared to its average volume of 1,630,462. ServiceTitan Inc. has a 12 month low of $54.17 and a 12 month high of $119.99. The stock has a 50 day moving average of $64.22 and a 200 day moving average of $76.92. The company has a market capitalization of $5.96 billion, a PE ratio of -43.07 and a beta of 0.13.

ServiceTitan (NASDAQ:TTAN) last announced its quarterly 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. ServiceTitan had a negative return on equity of 5.59% and a negative net margin of 13.44%.The company had revenue of $268.82 million during the quarter, compared to the consensus estimate of $257.40 million. During the same period in the prior year, the company earned $0.18 earnings per share. The company’s revenue for the quarter was up 24.6% compared to the same quarter last year. Equities analysts expect that ServiceTitan Inc. will post -0.54 EPS for the current year.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Morgan Stanley raised their price objective on ServiceTitan from $118.00 to $124.00 and gave the company an “overweight” rating in a research report on Friday, June 5th. William Blair reaffirmed an “outperform” rating on shares of ServiceTitan in a research report on Friday, March 13th. Stifel Nicolaus set a $125.00 price objective on ServiceTitan in a research report on Wednesday, May 27th. Robert W. Baird raised their price objective on ServiceTitan from $75.00 to $94.00 and gave the company an “outperform” rating in a research report on Monday, June 8th. Finally, The Goldman Sachs Group cut their price objective on ServiceTitan from $117.00 to $84.00 and set a “neutral” rating for the company in a research report on Monday, March 16th. 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 company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $110.53.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Toth Financial Advisory Corp lifted its stake in shares of ServiceTitan by 150.0% in the 4th quarter. Toth Financial Advisory Corp now owns 250 shares of the company’s stock valued at $27,000 after purchasing an additional 150 shares during the period. Farther Finance Advisors LLC lifted its stake in shares of ServiceTitan by 189.1% in the 4th quarter. Farther Finance Advisors LLC now owns 266 shares of the company’s stock valued at $28,000 after purchasing an additional 174 shares during the period. eCIO Inc. acquired a new position in shares of ServiceTitan in the 4th quarter valued at about $30,000. Elevation Wealth Partners LLC acquired a new position in shares of ServiceTitan in the 4th quarter valued at about $36,000. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in shares of ServiceTitan by 1,005.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 431 shares of the company’s stock valued at $46,000 after purchasing an additional 392 shares during the period.

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.