Roubaix Capital LLC Makes New Investment in ServiceTitan Inc. $TTAN

Roubaix Capital LLC purchased a new stake in ServiceTitan Inc. (NASDAQ:TTAN) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 53,720 shares of the company’s stock, valued at approximately $3,409,000. Roubaix Capital LLC owned 0.06% of ServiceTitan as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of TTAN. Woodline Partners LP increased its stake in shares of ServiceTitan by 4.6% in the 1st quarter. Woodline Partners LP now owns 2,141 shares of the company’s stock valued at $204,000 after acquiring an additional 95 shares in the last quarter. Cetera Investment Advisers bought a new position in ServiceTitan during the second quarter worth $345,000. Russell Investments Group Ltd. acquired a new stake in ServiceTitan in the second quarter worth $500,000. Northwestern Mutual Wealth Management Co. grew its holdings in ServiceTitan by 1,005.1% in the second 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. Finally, Arrowstreet Capital Limited Partnership bought a new stake in ServiceTitan in the second quarter valued at $393,000.

Insider Transactions at ServiceTitan

In related news, CAO Michele O’connor sold 4,910 shares of the firm’s 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 transaction, the chief accounting officer directly owned 71,676 shares of the company’s stock, valued at $5,800,738.68. This trade represents a 6.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Iconiq Strategic Partners V, L sold 94,415 shares of the business’s stock in a transaction dated Tuesday, June 23rd. The stock was sold at an average price of $63.43, for a total transaction of $5,988,743.45. Following the transaction, the insider owned 443,221 shares in the company, valued at approximately $28,113,508.03. This trade represents a 17.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 296,664 shares of company stock worth $19,958,797. 39.89% of the stock is owned by insiders.

ServiceTitan Trading Up 0.7%

Shares of ServiceTitan stock opened at $76.00 on Friday. The stock has a fifty day simple moving average of $69.23 and a 200 day simple moving average of $72.44. ServiceTitan Inc. has a 12-month low of $54.17 and a 12-month high of $119.99. The company has a market capitalization of $7.25 billion, a P/E ratio of -52.41 and a beta of 0.13.

ServiceTitan (NASDAQ:TTAN) last released 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. ServiceTitan had a negative return on equity of 5.59% and a negative net margin of 13.44%.The business had revenue of $268.82 million during the quarter, compared to analyst estimates of $257.40 million. During the same period in the prior year, the firm posted $0.18 EPS. ServiceTitan’s quarterly revenue was up 24.6% compared to the same quarter last year. On average, analysts predict that ServiceTitan Inc. will post -0.54 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. BMO Capital Markets upped their price objective on shares of ServiceTitan from $92.00 to $103.00 and gave the company an “outperform” rating in a report on Friday, June 5th. Citigroup reaffirmed a “neutral” rating on shares of ServiceTitan in a research report on Monday, June 8th. Piper Sandler upped their price target on ServiceTitan from $100.00 to $115.00 and gave the stock an “overweight” rating in a research note on Friday, June 5th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of ServiceTitan in a research note on Friday, April 24th. Finally, TD Cowen increased their price target on ServiceTitan from $110.00 to $125.00 and gave the stock a “buy” rating in a report on Friday, June 5th. Fifteen equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $110.53.

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.