Insider Selling: ServiceTitan (NASDAQ:TTAN) President Sells 3,208 Shares of Stock

ServiceTitan Inc. (NASDAQ:TTAN) President Vahe Kuzoyan sold 3,208 shares of ServiceTitan stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $66.19, for a total transaction of $212,337.52. Following the sale, the president directly owned 1 shares of the company’s stock, valued at $66.19. The trade was a 99.97% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

ServiceTitan Trading Down 6.2%

NASDAQ TTAN traded down $4.12 during trading on Wednesday, reaching $62.45. The company’s stock had a trading volume of 1,682,041 shares, compared to its average volume of 1,630,462. The firm has a market capitalization of $5.96 billion, a price-to-earnings ratio of -43.07 and a beta of 0.13. ServiceTitan Inc. has a 12 month low of $54.17 and a 12 month high of $119.99. The firm has a 50 day moving average price of $64.22 and a 200 day moving average price of $76.92.

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

Institutional Investors Weigh In On ServiceTitan

A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of ServiceTitan by 9.9% in the 4th quarter. Vanguard Group Inc. now owns 4,869,009 shares of the company’s stock valued at $518,549,000 after purchasing an additional 439,079 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of ServiceTitan by 118.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,893,959 shares of the company’s stock valued at $291,798,000 after purchasing an additional 1,569,136 shares during the last quarter. Franklin Resources Inc. boosted its stake in shares of ServiceTitan by 33.8% in the 4th quarter. Franklin Resources Inc. now owns 2,014,025 shares of the company’s stock valued at $214,494,000 after purchasing an additional 508,848 shares during the last quarter. Artisan Partners Limited Partnership boosted its stake in shares of ServiceTitan by 47.3% in the 4th quarter. Artisan Partners Limited Partnership now owns 1,617,353 shares of the company’s stock valued at $172,248,000 after purchasing an additional 519,024 shares during the last quarter. Finally, Greenoaks Capital Partners LLC boosted its stake in shares of ServiceTitan by 20.6% in the 4th quarter. Greenoaks Capital Partners LLC now owns 1,552,257 shares of the company’s stock valued at $165,315,000 after purchasing an additional 264,926 shares during the last quarter.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Truist Financial reiterated a “buy” rating and set a $110.00 price objective (up from $100.00) on shares of ServiceTitan in a research report on Friday, June 5th. The Goldman Sachs Group lowered their price objective on shares of ServiceTitan from $117.00 to $84.00 and set a “neutral” rating for the company in a research report on Monday, March 16th. BTIG Research upped their price objective on shares of ServiceTitan from $90.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, June 5th. Weiss Ratings reiterated a “sell (e+)” rating on shares of ServiceTitan in a research report on Friday, April 24th. Finally, TD Cowen upped their price objective on shares of ServiceTitan from $110.00 to $125.00 and gave the stock a “buy” rating in a research report on Friday, June 5th. Fifteen investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price 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.