ServiceTitan (NASDAQ:TTAN) CEO Sells 3,148 Shares

ServiceTitan Inc. (NASDAQ:TTAN) CEO Ara Mahdessian sold 3,148 shares of the company’s stock in a transaction dated Thursday, September 17th. The shares were sold at an average price of $57.07, for a total transaction of $179,656.36. Following the sale, the chief executive officer owned 2 shares in the company, valued at $114.14. This represents a 99.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Ara Mahdessian also recently made the following trade(s):

• On Tuesday, August 4th, Ara Mahdessian sold 38,287 shares of ServiceTitan stock. The stock was sold at an average price of $84.89, for a total value of $3,250,183.43.
• On Monday, August 3rd, Ara Mahdessian sold 49,766 shares of ServiceTitan stock. The stock was sold at an average price of $84.75, for a total value of $4,217,668.50.
• On Tuesday, July 7th, Ara Mahdessian sold 51,947 shares of ServiceTitan stock. The shares were sold at an average price of $80.98, for a total value of $4,206,668.06.

ServiceTitan Price Performance

Shares of NASDAQ:TTAN traded up $1.49 during trading on Monday, hitting $56.53. The company had a trading volume of 5,388,843 shares, compared to its average volume of 3,702,489. The stock has a market cap of $5.45 billion, a price-to-earnings ratio of -41.57 and a beta of 0.11. The company has a fifty day simple moving average of $80.79 and a two-hundred day simple moving average of $71.90. ServiceTitan Inc. has a one year low of $53.00 and a one year high of $115.92.

ServiceTitan (NASDAQ:TTAN) last released its quarterly earnings results on Tuesday, September 8th. The company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.05. The company had revenue of $292.76 million for the quarter, compared to analyst estimates of $285.89 million. ServiceTitan had a negative return on equity of 5.65% and a negative net margin of 12.12%.ServiceTitan’s quarterly revenue was up 20.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.33 EPS. On average, equities research analysts anticipate that ServiceTitan Inc. will post -0.53 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on TTAN. Robert W. Baird dropped their price target on shares of ServiceTitan from $101.00 to $85.00 and set an “outperform” rating for the company in a research note on Wednesday, September 9th. BTIG Research restated a “buy” rating and set a $110.00 target price on shares of ServiceTitan in a research report on Wednesday, September 9th. TD Cowen cut their price objective on ServiceTitan from $125.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, September 9th. Piper Sandler reduced their target price on ServiceTitan from $115.00 to $110.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 9th. Finally, Evercore set a $90.00 target price on ServiceTitan in a research report on Wednesday, September 9th. Fourteen research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, ServiceTitan currently has an average rating of “Moderate Buy” and an average price target of $96.38.

Institutional Trading of ServiceTitan

Several institutional investors and hedge funds have recently made changes to their positions in the company. Elevation Wealth Partners LLC grew its holdings in ServiceTitan by 20.0% during the 2nd quarter. Elevation Wealth Partners LLC now owns 863 shares of the company’s stock worth $61,000 after acquiring an additional 144 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of ServiceTitan by 30.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 906 shares of the company’s stock valued at $96,000 after purchasing an additional 209 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its stake in shares of ServiceTitan by 18.9% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 2,973 shares of the company’s stock valued at $317,000 after purchasing an additional 472 shares in the last quarter. State of Wyoming purchased a new position in ServiceTitan during the first quarter valued at approximately $48,000. Finally, First Bank & Trust raised its stake in ServiceTitan by 24.2% in the second quarter. First Bank & Trust now owns 4,426 shares of the company’s stock worth $313,000 after buying an additional 862 shares in the last quarter.

ServiceTitan Company Profile

ServiceTitan, Inc develops cloud-based software designed to help residential and commercial contractors manage and grow their businesses. Its platform supports trades such as heating, ventilation and air conditioning, plumbing, electrical, roofing, and other field-service industries.

The company’s products and services cover key business functions, including customer relationship management, lead generation, scheduling and dispatching, estimates, job management, invoicing, payments, financing, payroll, and business analytics.