ServiceTitan (NASDAQ:TTAN) CEO Sells $3,152,000.00 in Stock

ServiceTitan Inc. (NASDAQ:TTAN) CEO Ara Mahdessian sold 32,000 shares of ServiceTitan stock in a transaction dated Wednesday, January 14th. The stock was sold at an average price of $98.50, for a total transaction of $3,152,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Ara Mahdessian also recently made the following trade(s):

• On Wednesday, December 17th, Ara Mahdessian sold 3,038 shares of ServiceTitan stock. The shares were sold at an average price of $105.30, for a total transaction of $319,901.40.
• On Thursday, December 11th, Ara Mahdessian sold 42,666 shares of ServiceTitan stock. The stock was sold at an average price of $106.85, for a total transaction of $4,558,862.10.
• On Wednesday, December 10th, Ara Mahdessian sold 88,525 shares of ServiceTitan stock. The stock was sold at an average price of $107.56, for a total value of $9,521,749.00.
• On Thursday, November 6th, Ara Mahdessian sold 46,542 shares of ServiceTitan stock. The stock was sold at an average price of $91.40, for a total value of $4,253,938.80.
• On Thursday, November 6th, Ara Mahdessian sold 46,542 shares of ServiceTitan stock. The stock was sold at an average price of $91.40, for a total value of $4,253,938.80.
• On Wednesday, November 5th, Ara Mahdessian sold 14,263 shares of ServiceTitan stock. The shares were sold at an average price of $91.72, for a total value of $1,308,202.36.
• On Wednesday, November 5th, Ara Mahdessian sold 14,263 shares of ServiceTitan stock. The shares were sold at an average price of $91.72, for a total value of $1,308,202.36.

ServiceTitan Stock Performance

TTAN stock traded down $6.88 during trading hours on Thursday, hitting $90.11. 1,295,997 shares of the stock were exchanged, compared to its average volume of 893,909. The company has a current ratio of 4.14, a quick ratio of 4.14 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $8.44 billion and a P/E ratio of -22.09. The company has a 50-day simple moving average of $99.11 and a two-hundred day simple moving average of $103.69. ServiceTitan Inc. has a 12 month low of $79.81 and a 12 month high of $131.33.

ServiceTitan (NASDAQ:TTAN) last announced its earnings results on Thursday, December 4th. The company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.09. ServiceTitan had a negative net margin of 23.91% and a negative return on equity of 10.96%. The company had revenue of $249.16 million during the quarter, compared to analysts’ expectations of $238.26 million. During the same quarter in the previous year, the business posted $0.75 earnings per share. ServiceTitan’s quarterly revenue was up 25.0% on a year-over-year basis. On average, analysts forecast that ServiceTitan Inc. will post -1.98 earnings per share for the current fiscal year.

Institutional Trading of ServiceTitan

Institutional investors and hedge funds have recently modified their holdings of the business. Cloud Capital Management LLC bought a new position in ServiceTitan in the 3rd quarter valued at approximately $25,000. Elevation Wealth Partners LLC acquired a new position in ServiceTitan in the 4th quarter valued at approximately $36,000. Northwestern Mutual Wealth Management Co. increased its position in ServiceTitan by 1,005.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 431 shares of the company’s stock valued at $46,000 after acquiring an additional 392 shares during the period. Whittier Trust Co. bought a new position in shares of ServiceTitan during the third quarter valued at $52,000. Finally, Parallel Advisors LLC lifted its holdings in shares of ServiceTitan by 161.7% during the third quarter. Parallel Advisors LLC now owns 526 shares of the company’s stock worth $53,000 after purchasing an additional 325 shares during the period.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. BTIG Research started coverage on shares of ServiceTitan in a research report on Tuesday, December 16th. They issued a “buy” rating and a $130.00 price target for the company. Piper Sandler reduced their price target on ServiceTitan from $155.00 to $140.00 and set an “overweight” rating on the stock in a research report on Friday, December 5th. BMO Capital Markets lifted their price objective on ServiceTitan from $115.00 to $125.00 and gave the company an “outperform” rating in a report on Friday, December 5th. KeyCorp reiterated an “overweight” rating on shares of ServiceTitan in a research report on Tuesday, December 16th. Finally, Truist Financial set a $130.00 price target on ServiceTitan in a research report on Tuesday, October 21st. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $135.31.

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.