ServiceTitan (NASDAQ:TTAN) CEO Sells $3,250,183.43 in Stock

ServiceTitan Inc. (NASDAQ:TTAN) CEO Ara Mahdessian sold 38,287 shares of the firm’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $84.89, for a total value of $3,250,183.43. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, August 3rd, Ara Mahdessian sold 49,766 shares of ServiceTitan stock. The shares were sold at an average price of $84.75, for a total value of $4,217,668.50.
• On Tuesday, July 7th, Ara Mahdessian sold 51,947 shares of ServiceTitan stock. The shares were sold at an average price of $80.98, for a total transaction of $4,206,668.06.
• On Wednesday, June 17th, Ara Mahdessian sold 3,028 shares of ServiceTitan stock. The shares were sold at an average price of $66.19, for a total transaction of $200,423.32.

ServiceTitan Stock Up 0.3%

TTAN stock opened at $85.83 on Friday. ServiceTitan Inc. has a 52 week low of $54.17 and a 52 week high of $119.99. The firm has a market capitalization of $8.19 billion, a P/E ratio of -59.19 and a beta of 0.02. The company has a fifty day simple moving average of $74.44 and a two-hundred day simple moving average of $70.02.

ServiceTitan (NASDAQ:TTAN) last announced its 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 business’s revenue was up 24.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.18 EPS. As a group, analysts anticipate that ServiceTitan Inc. will post -0.54 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Piper Sandler increased their price target on ServiceTitan from $100.00 to $115.00 and gave the company an “overweight” rating in a report on Friday, June 5th. Weiss Ratings reissued a “sell (e+)” rating on shares of ServiceTitan in a research note on Tuesday, July 21st. KeyCorp reaffirmed an “overweight” rating on shares of ServiceTitan in a research note on Tuesday, May 26th. BTIG Research reiterated a “buy” rating and set a $110.00 price target on shares of ServiceTitan in a report on Friday, July 10th. Finally, Citigroup reissued a “neutral” rating on shares of ServiceTitan in a research note on Monday, June 8th. Fifteen research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, ServiceTitan has an average rating of “Moderate Buy” and a consensus price target of $110.53.

Hedge Funds Weigh In On ServiceTitan

Institutional investors have recently modified their holdings of the stock. Farther Finance Advisors LLC boosted its holdings in shares of ServiceTitan by 189.1% in the fourth quarter. Farther Finance Advisors LLC now owns 266 shares of the company’s stock valued at $28,000 after purchasing an additional 174 shares during the period. Northwestern Mutual Wealth Management Co. raised its position in ServiceTitan by 1,005.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 431 shares of the company’s stock valued at $46,000 after purchasing an additional 392 shares in the last quarter. State of Wyoming purchased a new stake in shares of ServiceTitan in the 1st quarter worth $48,000. Sunbelt Securities Inc. grew its position in shares of ServiceTitan by 391.0% during the 4th quarter. Sunbelt Securities Inc. now owns 491 shares of the company’s stock worth $52,000 after buying an additional 391 shares in the last quarter. Finally, Parallel Advisors LLC increased its stake in shares of ServiceTitan by 161.7% during the third quarter. Parallel Advisors LLC now owns 526 shares of the company’s stock valued at $53,000 after buying an additional 325 shares during the period.

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.