Taylor Frigon Capital Management LLC Acquires 9,632 Shares of ServiceTitan Inc. $TTAN

Taylor Frigon Capital Management LLC increased its stake in ServiceTitan Inc. (NASDAQ:TTAN) by 36.0% in the 1st quarter, HoldingsChannel reports. The fund owned 36,400 shares of the company’s stock after acquiring an additional 9,632 shares during the period. ServiceTitan accounts for approximately 1.3% of Taylor Frigon Capital Management LLC’s holdings, making the stock its 21st largest holding. Taylor Frigon Capital Management LLC’s holdings in ServiceTitan were worth $2,310,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Woodline Partners LP lifted 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 purchasing an additional 95 shares during the last quarter. Toth Financial Advisory Corp increased its position in shares of ServiceTitan by 150.0% during the 4th quarter. Toth Financial Advisory Corp now owns 250 shares of the company’s stock valued at $27,000 after purchasing an additional 150 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in ServiceTitan by 189.1% during the 4th quarter. Farther Finance Advisors LLC now owns 266 shares of the company’s stock valued at $28,000 after buying an additional 174 shares during the period. PNC Financial Services Group Inc. lifted its position in ServiceTitan by 21.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,042 shares of the company’s stock worth $111,000 after buying an additional 184 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in ServiceTitan by 30.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 906 shares of the company’s stock worth $96,000 after buying an additional 209 shares during the period.

ServiceTitan Price Performance

TTAN stock opened at $78.01 on Thursday. The company has a market capitalization of $7.44 billion, a PE ratio of -53.80 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’s 50-day moving average is $66.98 and its 200 day moving average is $73.69.

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

Insider Transactions at ServiceTitan

In other ServiceTitan news, CEO Ara Mahdessian sold 51,947 shares of the company’s stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $80.98, for a total value of $4,206,668.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Iconiq Strategic Partners V, L sold 94,415 shares of ServiceTitan stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $63.43, for a total value of $5,988,743.45. Following the completion of the sale, the insider owned 443,221 shares of the company’s stock, valued at $28,113,508.03. The trade was a 17.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 296,664 shares of company stock valued at $19,958,797 in the last ninety days. Corporate insiders own 39.89% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Robert W. Baird boosted their price objective on shares of ServiceTitan from $75.00 to $94.00 and gave the company an “outperform” rating in a research report on Monday, June 8th. BTIG Research lifted their price target on shares of ServiceTitan from $90.00 to $110.00 and gave the stock a “buy” rating in a research note on Friday, June 5th. William Blair reiterated an “outperform” rating on shares of ServiceTitan in a report on Friday, March 13th. Piper Sandler raised their price objective on shares of ServiceTitan from $100.00 to $115.00 and gave the stock an “overweight” rating in a research note on Friday, June 5th. Finally, Wells Fargo & Company cut their target price on ServiceTitan from $125.00 to $115.00 and set an “overweight” rating on the stock in a research note on Friday, March 13th. Fifteen analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $110.53.

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.