ServiceTitan Inc. $TTAN Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC lowered its position in shares of ServiceTitan Inc. (NASDAQ:TTAN) by 67.0% during the fourth quarter, Holdings Channel reports. The fund owned 8,687 shares of the company’s stock after selling 17,599 shares during the quarter. Hsbc Holdings PLC’s holdings in ServiceTitan were worth $924,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Rockefeller Capital Management L.P. grew its stake in shares of ServiceTitan by 758.3% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,811 shares of the company’s stock valued at $193,000 after buying an additional 1,600 shares during the period. Sunbelt Securities Inc. raised its position in shares of ServiceTitan by 391.0% in the 4th quarter. Sunbelt Securities Inc. now owns 491 shares of the company’s stock worth $52,000 after buying an additional 391 shares during the period. Axxcess Wealth Management LLC acquired a new position in ServiceTitan in the fourth quarter valued at $229,000. Vident Advisory LLC grew its position in ServiceTitan by 63.9% during the fourth quarter. Vident Advisory LLC now owns 4,824 shares of the company’s stock valued at $514,000 after acquiring an additional 1,881 shares during the period. Finally, Beacon Pointe Advisors LLC acquired a new stake in ServiceTitan during the fourth quarter worth about $281,000.

Insider Activity

In other news, CAO Michele O’connor sold 4,910 shares of ServiceTitan stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $80.93, for a total value of $397,366.30. Following the completion of the transaction, the chief accounting officer owned 71,676 shares in the company, valued at approximately $5,800,738.68. This trade represents a 6.41% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Byron B. Deeter sold 8,845 shares of the business’s stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $63.35, for a total value of $560,330.75. Following the completion of the sale, the director owned 13,782 shares of the company’s stock, valued at $873,089.70. This trade represents a 39.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 296,664 shares of company stock valued at $19,958,797 over the last three months. Company insiders own 39.89% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on TTAN shares. 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. Robert W. Baird boosted their price objective on shares of ServiceTitan from $75.00 to $94.00 and gave the stock an “outperform” rating in a research note on Monday, June 8th. Citigroup reiterated a “neutral” rating on shares of ServiceTitan in a research note on Monday, June 8th. Piper Sandler increased their price objective on shares of ServiceTitan from $100.00 to $115.00 and gave the stock an “overweight” rating in a research report on Friday, June 5th. Finally, BTIG Research reissued a “buy” rating and issued a $110.00 target price on shares of ServiceTitan in a research note on Friday. Fifteen investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $110.53.

ServiceTitan Stock Up 3.4%

Shares of NASDAQ TTAN opened at $80.35 on Tuesday. ServiceTitan Inc. has a fifty-two week low of $54.17 and a fifty-two week high of $119.99. The business has a 50 day moving average price of $68.13 and a two-hundred day moving average price of $73.05. The firm has a market cap of $7.67 billion, a PE ratio of -55.41 and a beta of 0.13.

ServiceTitan (NASDAQ:TTAN) last posted its quarterly earnings results on Thursday, June 4th. The company reported $0.37 earnings per share (EPS) 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 analysts’ expectations of $257.40 million. ServiceTitan had a negative net margin of 13.44% and a negative return on equity of 5.59%. The firm’s quarterly revenue was up 24.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.18 earnings per share. On average, analysts anticipate that ServiceTitan Inc. will post -0.54 earnings per share for the current year.

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.