ServiceTitan (NASDAQ:TTAN) CFO Sells $817,470.00 in Stock

ServiceTitan Inc. (NASDAQ:TTAN) CFO David Sherry sold 9,000 shares of the business’s stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $90.83, for a total value of $817,470.00. Following the completion of the transaction, the chief financial officer owned 386,757 shares in the company, valued at approximately $35,129,138.31. This trade represents a 2.27% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

David Sherry also recently made the following trade(s):

• On Wednesday, June 17th, David Sherry sold 20,192 shares of ServiceTitan stock. The shares were sold at an average price of $66.19, for a total value of $1,336,508.48.

ServiceTitan Trading Down 2.2%

TTAN stock traded down $2.01 during midday trading on Monday, hitting $88.39. 699,987 shares of the company’s stock were exchanged, compared to its average volume of 1,449,636. 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 $75.93 and a 200-day moving average price of $69.85. The stock has a market capitalization of $8.43 billion, a price-to-earnings ratio of -60.96 and a beta of 0.02.

ServiceTitan (NASDAQ:TTAN) last announced its earnings results 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 return on equity of 5.59% and a negative net margin of 13.44%.The company had revenue of $268.82 million for the quarter, compared to analyst estimates of $257.40 million. During the same period in the prior year, the company posted $0.18 EPS. ServiceTitan’s quarterly revenue was up 24.6% on a year-over-year basis. On average, sell-side analysts forecast that ServiceTitan Inc. will post -0.54 EPS for the current fiscal year.

Institutional Trading of ServiceTitan

Several institutional investors have recently added to or reduced their stakes in TTAN. Woodline Partners LP raised its holdings in shares of ServiceTitan by 4.6% during the first quarter. Woodline Partners LP now owns 2,141 shares of the company’s stock valued at $204,000 after buying an additional 95 shares during the last quarter. Elevation Wealth Partners LLC increased its position in ServiceTitan by 20.0% in the 2nd quarter. Elevation Wealth Partners LLC now owns 863 shares of the company’s stock valued at $61,000 after acquiring an additional 144 shares during the period. Farther Finance Advisors LLC increased its position in ServiceTitan by 189.1% in the 4th quarter. Farther Finance Advisors LLC now owns 266 shares of the company’s stock valued at $28,000 after acquiring an additional 174 shares during the period. PNC Financial Services Group Inc. raised its stake in ServiceTitan by 21.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,042 shares of the company’s stock valued at $111,000 after acquiring an additional 184 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its position in ServiceTitan by 30.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 906 shares of the company’s stock worth $96,000 after acquiring an additional 209 shares during the period.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Morgan Stanley increased their price objective on shares of ServiceTitan from $118.00 to $124.00 and gave the company an “overweight” rating in a research note on Friday, June 5th. Truist Financial restated a “buy” rating and issued a $110.00 target price (up from $100.00) on shares of ServiceTitan in a research note on Friday, June 5th. Needham & Company LLC restated a “buy” rating and issued a $100.00 target price on shares of ServiceTitan in a research note on Wednesday, June 17th. BTIG Research reaffirmed a “buy” rating and set a $110.00 price target on shares of ServiceTitan in a research report on Friday, July 10th. Finally, Piper Sandler lifted their price target on ServiceTitan from $100.00 to $115.00 and gave the stock an “overweight” rating in a research note on Friday, June 5th. Fifteen equities research 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $111.00.

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.