Insider Selling: ServiceTitan (NASDAQ:TTAN) President Sells $1,457,712.60 in Stock

ServiceTitan Inc. (NASDAQ:TTAN) President Vahe Kuzoyan sold 16,388 shares of the stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $88.95, for a total transaction of $1,457,712.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Vahe Kuzoyan also recently made the following trade(s):

• On Tuesday, August 11th, Vahe Kuzoyan sold 114,732 shares of ServiceTitan stock. The stock was sold at an average price of $88.84, for a total transaction of $10,192,790.88.
• On Wednesday, June 17th, Vahe Kuzoyan sold 3,208 shares of ServiceTitan stock. The stock was sold at an average price of $66.19, for a total transaction of $212,337.52.

ServiceTitan Price Performance

NASDAQ TTAN traded up $1.70 during trading on Thursday, hitting $93.70. 1,201,068 shares of the company’s stock traded hands, compared to its average volume of 1,457,846. The stock has a fifty day moving average of $75.28 and a two-hundred day moving average of $69.86. ServiceTitan Inc. has a 12-month low of $54.17 and a 12-month high of $119.99. The firm has a market cap of $8.94 billion, a P/E ratio of -64.62 and a beta of 0.02.

ServiceTitan (NASDAQ:TTAN) last released its quarterly earnings data on Thursday, June 4th. The company reported $0.37 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $268.82 million for the quarter, compared to the consensus estimate of $257.40 million. During the same quarter in the previous year, the business earned $0.18 earnings per share. The company’s quarterly revenue was up 24.6% on a year-over-year basis. As a group, analysts expect that ServiceTitan Inc. will post -0.54 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Farther Finance Advisors LLC lifted its holdings in ServiceTitan by 189.1% in the 4th quarter. Farther Finance Advisors LLC now owns 266 shares of the company’s stock worth $28,000 after buying an additional 174 shares during the period. Northwestern Mutual Wealth Management Co. increased its stake in shares of 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 during the period. State of Wyoming purchased a new position in shares of ServiceTitan during the first quarter valued at approximately $48,000. Sunbelt Securities Inc. raised its holdings in shares of ServiceTitan by 391.0% during the fourth quarter. Sunbelt Securities Inc. now owns 491 shares of the company’s stock valued at $52,000 after acquiring an additional 391 shares in the last quarter. Finally, Parallel Advisors LLC raised 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 valued at $53,000 after acquiring an additional 325 shares in the last quarter.

Analysts Set New Price Targets

A number of brokerages have commented on TTAN. Stifel Nicolaus set a $125.00 price target on ServiceTitan in a research note on Wednesday, May 27th. KeyCorp reissued an “overweight” rating on shares of ServiceTitan in a research note on Tuesday, May 26th. TD Cowen raised their target price on shares of ServiceTitan from $110.00 to $125.00 and gave the stock a “buy” rating in a report on Friday, June 5th. Needham & Company LLC reaffirmed a “buy” rating and issued a $100.00 target price on shares of ServiceTitan in a research note on Wednesday, June 17th. Finally, Citigroup reiterated a “neutral” rating on shares of ServiceTitan in a report on Monday, June 8th. Fifteen investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, ServiceTitan has an average rating of “Moderate Buy” and an average target price of $111.00.

ServiceTitan Company 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.