Index Venture Growth Associates V Ltd Buys New Position in ServiceTitan Inc. $TTAN

Index Venture Growth Associates V Ltd bought a new stake in shares of ServiceTitan Inc. (NASDAQ:TTAN) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 256,110 shares of the company’s stock, valued at approximately $27,276,000. ServiceTitan makes up 8.8% of Index Venture Growth Associates V Ltd’s holdings, making the stock its 3rd biggest position. Index Venture Growth Associates V Ltd owned 0.27% of ServiceTitan at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Toth Financial Advisory Corp boosted its stake in ServiceTitan by 150.0% during the fourth quarter. Toth Financial Advisory Corp now owns 250 shares of the company’s stock valued at $27,000 after buying an additional 150 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in ServiceTitan by 189.1% during the fourth quarter. Farther Finance Advisors LLC now owns 266 shares of the company’s stock valued at $28,000 after buying an additional 174 shares in the last quarter. eCIO Inc. bought a new position in ServiceTitan during the fourth quarter valued at about $30,000. Elevation Wealth Partners LLC bought a new position in ServiceTitan during the fourth quarter valued at about $36,000. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in ServiceTitan by 1,005.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 431 shares of the company’s stock valued at $46,000 after buying an additional 392 shares in the last quarter.

Insiders Place Their Bets

In related news, President Vahe Kuzoyan sold 3,220 shares of the stock in a transaction dated Wednesday, March 18th. The stock was sold at an average price of $69.86, for a total value of $224,949.20. Following the completion of the sale, the president directly owned 1 shares of the company’s stock, valued at approximately $69.86. This represents a 99.97% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO David Sherry sold 17,778 shares of the stock in a transaction dated Wednesday, March 18th. The stock was sold at an average price of $69.86, for a total value of $1,241,971.08. Following the completion of the sale, the chief financial officer directly owned 313,025 shares of the company’s stock, valued at approximately $21,867,926.50. This represents a 5.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 43,440 shares of company stock valued at $2,972,868 in the last 90 days. Insiders own 39.89% of the company’s stock.

ServiceTitan Stock Down 2.2%

NASDAQ:TTAN opened at $66.77 on Friday. 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 $6.37 billion, a price-to-earnings ratio of -46.05 and a beta of 0.13. The stock has a fifty day simple moving average of $64.04 and a 200 day simple moving average of $77.49.

ServiceTitan (NASDAQ:TTAN) last released its quarterly earnings results on Thursday, June 4th. The company reported $0.37 earnings per share 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 business had revenue of $268.82 million during the quarter, compared to analyst estimates of $257.40 million. During the same quarter last year, the company posted $0.18 EPS. ServiceTitan’s revenue for the quarter was up 24.6% on a year-over-year basis. Equities analysts predict that ServiceTitan Inc. will post -0.54 earnings per share for the current year.

Wall Street Analyst Weigh In

TTAN has been the subject of several research reports. The Goldman Sachs Group decreased their target price on ServiceTitan from $117.00 to $84.00 and set a “neutral” rating for the company in a research note on Monday, March 16th. Citigroup reiterated a “neutral” rating on shares of ServiceTitan in a research report on Monday. Morgan Stanley increased their price target on ServiceTitan from $118.00 to $124.00 and gave the company an “overweight” rating in a research report on Friday, June 5th. Robert W. Baird increased their price target on ServiceTitan from $75.00 to $94.00 and gave the company an “outperform” rating in a research report on Monday. Finally, Wells Fargo & Company decreased their price target on ServiceTitan from $125.00 to $115.00 and set an “overweight” rating for the company in a research report on Friday, March 13th. Fifteen research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, ServiceTitan presently has a consensus rating of “Moderate Buy” and a consensus price target of $110.53.

ServiceTitan 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.