8,506 ServiceTitan Inc. $TTAN Shares Bought by Taylor Frigon Capital Management LLC

Taylor Frigon Capital Management LLC raised its position in shares of ServiceTitan Inc. (NASDAQ:TTAN) by 23.0% in the third quarter, Holdings Channel reports. The firm owned 45,433 shares of the company’s stock after acquiring an additional 8,506 shares during the quarter. ServiceTitan accounts for 1.5% of Taylor Frigon Capital Management LLC’s holdings, making the stock its 15th biggest holding. Taylor Frigon Capital Management LLC’s holdings in ServiceTitan were worth $2,989,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Canton Hathaway LLC purchased a new position in ServiceTitan in the third quarter worth about $25,000. Farther Finance Advisors LLC grew its holdings in shares of ServiceTitan by 98.5% during the third quarter. Farther Finance Advisors LLC now owns 526 shares of the company’s stock valued at $35,000 after buying an additional 261 shares during the last quarter. State of Wyoming purchased a new stake in shares of ServiceTitan during the first quarter valued at approximately $48,000. Root Financial Partners LLC purchased a new stake in shares of ServiceTitan during the third quarter valued at approximately $55,000. Finally, Elevation Wealth Partners LLC grew its holdings in shares of ServiceTitan by 20.0% during the second quarter. Elevation Wealth Partners LLC now owns 863 shares of the company’s stock valued at $61,000 after buying an additional 144 shares during the last quarter.

ServiceTitan Stock Performance

ServiceTitan stock opened at $87.06 on Friday. The stock has a market cap of $8.40 billion, a PE ratio of -64.01 and a beta of 0.33. ServiceTitan Inc. has a one year low of $53.00 and a one year high of $111.36. The stock has a fifty day moving average of $75.85 and a 200 day moving average of $72.13.

ServiceTitan (NASDAQ:TTAN) last posted its earnings results on Tuesday, September 8th. The company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.05. The company had revenue of $292.76 million for the quarter, compared to the consensus estimate of $285.89 million. ServiceTitan had a negative return on equity of 5.65% and a negative net margin of 12.12%. ServiceTitan’s revenue was up 20.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.33 earnings per share. As a group, sell-side analysts predict that ServiceTitan Inc. will post -0.55 EPS for the current fiscal year.

Insider Transactions at ServiceTitan

In other news, CFO David Sherry sold 1,138 shares of the stock in a transaction that occurred on Thursday, October 15th. The shares were sold at an average price of $75.22, for a total value of $85,600.36. Following the transaction, the chief financial officer owned 362,373 shares in the company, valued at $27,257,697.06. This represents a 0.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ara Mahdessian sold 3,148 shares of the firm’s stock in a transaction that occurred on Thursday, September 17th. The stock was sold at an average price of $57.07, for a total transaction of $179,656.36. Following the completion of the transaction, the chief executive officer directly owned 2 shares in the company, valued at approximately $114.14. The trade was a 99.94% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 268,814 shares of company stock valued at $22,294,608. 39.89% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

TTAN has been the subject of several analyst reports. BMO Capital Markets reduced their price target on shares of ServiceTitan from $103.00 to $90.00 and set an “outperform” rating for the company in a research report on Wednesday, September 9th. Morgan Stanley lowered their price objective on ServiceTitan from $124.00 to $92.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 9th. Truist Financial reiterated a “buy” rating and set a $100.00 target price (down from $110.00) on shares of ServiceTitan in a research note on Wednesday, September 9th. Canaccord Genuity Group reduced their target price on ServiceTitan from $105.00 to $90.00 and set a “buy” rating for the company in a report on Wednesday, September 9th. Finally, KeyCorp reissued an “overweight” rating on shares of ServiceTitan in a report on Thursday, October 8th. Fourteen investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, ServiceTitan presently has an average rating of “Moderate Buy” and a consensus target price of $96.38.

About ServiceTitan

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

The company’s software supports core operations such as customer relationship management, marketing, scheduling, dispatching, estimates, invoicing, payments, inventory management, purchasing, payroll, and business reporting.