ServiceTitan (NASDAQ:TTAN) CAO Michele O’connor Sells 4,910 Shares

ServiceTitan Inc. (NASDAQ:TTAN) CAO Michele O’connor sold 4,910 shares of the stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $80.93, for a total transaction of $397,366.30. Following the completion of the sale, the chief accounting officer owned 71,676 shares of the company’s stock, valued at approximately $5,800,738.68. This represents a 6.41% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Wednesday, June 17th, Michele O’connor sold 5,304 shares of ServiceTitan stock. The shares were sold at an average price of $66.19, for a total transaction of $351,071.76.
• On Tuesday, June 9th, Michele O’connor sold 10,000 shares of ServiceTitan stock. The stock was sold at an average price of $69.14, for a total transaction of $691,400.00.
• 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.

ServiceTitan Stock Down 2.1%

Shares of NASDAQ TTAN opened at $78.01 on Thursday. ServiceTitan Inc. has a twelve month low of $54.17 and a twelve month high of $119.99. The stock’s 50 day moving average price is $66.98 and its 200-day moving average price is $73.69. The company has a market capitalization of $7.44 billion, a PE ratio of -53.80 and a beta of 0.13.

ServiceTitan (NASDAQ:TTAN) last issued its quarterly earnings results on Thursday, June 4th. The company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.09. The company had revenue of $268.82 million during the quarter, compared to the consensus estimate of $257.40 million. ServiceTitan had a negative return on equity of 5.59% and a negative net margin of 13.44%.ServiceTitan’s revenue was up 24.6% on a year-over-year basis. During the same period last year, the business posted $0.18 earnings per share. As a group, research analysts expect that ServiceTitan Inc. will post -0.54 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on TTAN. Citigroup reiterated a “neutral” rating on shares of ServiceTitan in a research note on Monday, June 8th. BMO Capital Markets increased their price target on shares of ServiceTitan from $92.00 to $103.00 and gave the company an “outperform” rating in a research report on Friday, June 5th. BTIG Research raised their price objective on shares of ServiceTitan from $90.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, June 5th. Piper Sandler lifted their price objective on shares of ServiceTitan from $100.00 to $115.00 and gave the stock an “overweight” rating in a research report on Friday, June 5th. Finally, KeyCorp reiterated an “overweight” rating on shares of ServiceTitan in a research note on Tuesday, May 26th. Fifteen equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $110.53.

Institutional Trading of ServiceTitan

Several hedge funds have recently made changes to their positions in the company. Woodline Partners LP lifted its position in shares of ServiceTitan by 4.6% during the 1st quarter. Woodline Partners LP now owns 2,141 shares of the company’s stock valued at $204,000 after buying an additional 95 shares during the last quarter. Cetera Investment Advisers bought a new stake in ServiceTitan in the 2nd quarter valued at about $345,000. Russell Investments Group Ltd. bought a new stake in ServiceTitan in the 2nd quarter valued at about $500,000. Northwestern Mutual Wealth Management Co. lifted its holdings in ServiceTitan by 1,005.1% during the second 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 last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in ServiceTitan during the second quarter valued at about $393,000.

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.