ServiceTitan (NASDAQ:TTAN) President Vahe Kuzoyan Sells 114,732 Shares of Stock

ServiceTitan Inc. (NASDAQ:TTAN) President Vahe Kuzoyan sold 114,732 shares of the company’s stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $88.84, for a total value of $10,192,790.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Vahe Kuzoyan also recently made the following trade(s):

• On Wednesday, August 12th, Vahe Kuzoyan sold 16,388 shares of ServiceTitan stock. The stock was sold at an average price of $88.95, for a total transaction of $1,457,712.60.
• On Wednesday, June 17th, Vahe Kuzoyan sold 3,208 shares of ServiceTitan stock. The shares were sold at an average price of $66.19, for a total value of $212,337.52.

ServiceTitan Stock Up 1.8%

Shares of ServiceTitan stock traded up $1.70 during midday trading on Thursday, hitting $93.70. The company’s stock had a trading volume of 1,201,068 shares, compared to its average volume of 1,457,846. ServiceTitan Inc. has a 1-year low of $54.17 and a 1-year high of $119.99. The firm has a market capitalization of $8.94 billion, a P/E ratio of -64.62 and a beta of 0.02. The stock has a 50-day simple moving average of $75.28 and a 200-day simple moving average of $69.86.

ServiceTitan (NASDAQ:TTAN) last released its quarterly earnings data 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. The firm had revenue of $268.82 million for the quarter, compared to analyst estimates of $257.40 million. ServiceTitan had a negative net margin of 13.44% and a negative return on equity of 5.59%. The company’s revenue for the quarter was up 24.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.18 EPS. As a group, sell-side analysts predict that ServiceTitan Inc. will post -0.54 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Robert W. Baird boosted their price target on ServiceTitan from $94.00 to $101.00 and gave the company an “outperform” rating in a research note on Wednesday. Needham & Company LLC reiterated a “buy” rating and issued a $100.00 price objective on shares of ServiceTitan in a report on Wednesday, June 17th. Truist Financial reissued a “buy” rating and set a $110.00 target price (up from $100.00) on shares of ServiceTitan in a research report on Friday, June 5th. Stifel Nicolaus set a $125.00 target price on ServiceTitan in a report on Wednesday, May 27th. Finally, Citigroup reaffirmed a “neutral” rating on shares of ServiceTitan in a research report on Monday, June 8th. Fifteen 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. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $111.00.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of TTAN. Woodline Partners LP lifted its holdings in ServiceTitan by 4.6% during 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. Cetera Investment Advisers acquired a new stake in shares of ServiceTitan during the second quarter worth approximately $345,000. Russell Investments Group Ltd. bought a new position in shares of ServiceTitan in the second quarter valued at approximately $500,000. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of ServiceTitan by 1,005.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 431 shares of the company’s stock worth $46,000 after acquiring an additional 392 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new stake in ServiceTitan during the 2nd quarter worth approximately $393,000.

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.