Insider Selling: ServiceTitan (NASDAQ:TTAN) CFO Sells $1,363,005.84 in Stock

ServiceTitan Inc. (NASDAQ:TTAN) CFO David Sherry sold 11,746 shares of the business’s stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $116.04, for a total transaction of $1,363,005.84. Following the sale, the chief financial officer directly owned 347,928 shares in the company, valued at $40,373,565.12. This trade represents a 3.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Tuesday, July 22nd, David Sherry sold 1,499 shares of ServiceTitan stock. The shares were sold at an average price of $116.89, for a total transaction of $175,218.11.
• On Monday, July 21st, David Sherry sold 1,509 shares of ServiceTitan stock. The shares were sold at an average price of $114.41, for a total transaction of $172,644.69.
• On Thursday, June 26th, David Sherry sold 16,630 shares of ServiceTitan stock. The shares were sold at an average price of $104.65, for a total transaction of $1,740,329.50.

ServiceTitan Price Performance

Shares of TTAN opened at $115.48 on Friday. The firm has a market capitalization of $10.47 billion and a PE ratio of -21.39. The company’s fifty day moving average price is $110.39 and its 200-day moving average price is $108.56. ServiceTitan Inc. has a 1-year low of $79.81 and a 1-year high of $131.33. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.49 and a quick ratio of 4.49.

Institutional Trading of ServiceTitan

A number of hedge funds have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD grew its stake in shares of ServiceTitan by 1.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,306,168 shares of the company’s stock valued at $219,341,000 after buying an additional 32,066 shares during the period. Kayne Anderson Rudnick Investment Management LLC grew its stake in shares of ServiceTitan by 1,545.2% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,055,736 shares of the company’s stock valued at $195,521,000 after buying an additional 1,930,779 shares during the period. Franklin Resources Inc. grew its stake in shares of ServiceTitan by 148.4% in the 2nd quarter. Franklin Resources Inc. now owns 1,893,237 shares of the company’s stock valued at $202,917,000 after buying an additional 1,131,062 shares during the period. Invesco Ltd. grew its stake in shares of ServiceTitan by 1,388.2% in the 2nd quarter. Invesco Ltd. now owns 1,477,369 shares of the company’s stock valued at $158,344,000 after buying an additional 1,378,100 shares during the period. Finally, JPMorgan Chase & Co. grew its stake in shares of ServiceTitan by 300,996.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,324,823 shares of the company’s stock valued at $141,995,000 after buying an additional 1,324,383 shares during the period.

Analysts Set New Price Targets

A number of research analysts recently issued reports on TTAN shares. Wells Fargo & Company boosted their target price on shares of ServiceTitan from $130.00 to $140.00 and gave the company an “overweight” rating in a research report on Friday. Raymond James Financial assumed coverage on shares of ServiceTitan in a research report on Friday, August 29th. They set a “market perform” rating for the company. Piper Sandler reissued an “overweight” rating and set a $155.00 target price on shares of ServiceTitan in a research note on Friday. Morgan Stanley increased their target price on shares of ServiceTitan from $109.00 to $118.00 and gave the stock an “equal weight” rating in a research note on Friday, September 5th. Finally, Citigroup increased their target price on shares of ServiceTitan from $111.00 to $123.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 9th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $132.67.

About ServiceTitan

ServiceTitan, Inc engages in the collection of field service activities required to install, maintain, and service the infrastructure and systems of residences and commercial buildings. The company was founded by Ara Mahdessian and Vahe Kuzoyan on June 8, 2008 and is headquartered in Glendale, CA.