ServiceTitan (NASDAQ:TTAN) CAO Michele O’connor Sells 5,304 Shares

ServiceTitan Inc. (NASDAQ:TTAN) CAO Michele O’connor sold 5,304 shares of the company’s stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $66.19, for a total value of $351,071.76. Following the sale, the chief accounting officer directly owned 76,586 shares of the company’s stock, valued at approximately $5,069,227.34. This represents a 6.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Tuesday, June 9th, Michele O’connor sold 10,000 shares of ServiceTitan stock. The shares were sold at an average price of $69.14, for a total value of $691,400.00.
• On Thursday, April 9th, Michele O’connor sold 5,000 shares of ServiceTitan stock. The shares were sold at an average price of $58.93, for a total value of $294,650.00.

ServiceTitan Stock Performance

NASDAQ:TTAN traded down $4.12 during trading hours on Wednesday, hitting $62.45. 1,682,041 shares of the company’s stock traded hands, compared to its average volume of 1,630,462. The firm has a market cap of $5.96 billion, a P/E ratio of -43.07 and a beta of 0.13. ServiceTitan Inc. has a twelve month low of $54.17 and a twelve month high of $119.99. The stock’s fifty day moving average price is $64.22 and its two-hundred day moving average price is $76.92.

ServiceTitan (NASDAQ:TTAN) last posted its quarterly earnings results on Thursday, June 4th. The company reported $0.37 earnings per share for the quarter, beating 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 firm had revenue of $268.82 million for the quarter, compared to analyst estimates of $257.40 million. During the same period in the previous year, the firm earned $0.18 earnings per share. ServiceTitan’s quarterly revenue was up 24.6% on a year-over-year basis. On average, equities research analysts predict that ServiceTitan Inc. will post -0.54 earnings per share for the current year.

Analysts Set New Price Targets

TTAN has been the subject of a number of recent research reports. Citigroup reissued a “neutral” rating on shares of ServiceTitan in a report on Monday, June 8th. Truist Financial reissued a “buy” rating and issued a $110.00 target price (up from $100.00) on shares of ServiceTitan in a report on Friday, June 5th. William Blair reissued an “outperform” rating on shares of ServiceTitan in a report on Friday, March 13th. Needham & Company LLC reissued a “buy” rating and issued a $100.00 target price on shares of ServiceTitan in a report on Wednesday. Finally, Piper Sandler increased their target price on ServiceTitan from $100.00 to $115.00 and gave the stock an “overweight” rating in a report on Friday, June 5th. Fifteen 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 company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $110.53.

Institutional Investors Weigh In On ServiceTitan

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in ServiceTitan by 538.4% during the third quarter. Vanguard Group Inc. now owns 4,429,930 shares of the company’s stock worth $446,670,000 after acquiring an additional 3,735,968 shares in the last quarter. Thornburg Investment Management Inc. bought a new position in ServiceTitan during the third quarter worth about $8,338,000. Sandhill Capital Partners LLC bought a new position in ServiceTitan during the third quarter worth about $27,062,000. Renaissance Capital LLC lifted its holdings in ServiceTitan by 222.8% during the fourth quarter. Renaissance Capital LLC now owns 41,223 shares of the company’s stock worth $4,390,000 after acquiring an additional 28,454 shares in the last quarter. Finally, CIBC Bancorp USA Inc. bought a new position in ServiceTitan during the third quarter worth about $84,983,000.

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.