ServiceTitan Inc. (NASDAQ:TTAN) CEO Ara Mahdessian Sells 42,674 Shares

ServiceTitan Inc. (NASDAQ:TTAN) CEO Ara Mahdessian sold 42,674 shares of the company’s stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $110.84, for a total value of $4,729,986.16. Following the sale, the chief executive officer owned 1 shares of the company’s stock, valued at $110.84. This represents a 100.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Thursday, July 17th, Ara Mahdessian sold 42,666 shares of ServiceTitan stock. The stock was sold at an average price of $112.51, for a total transaction of $4,800,351.66.
• On Thursday, June 26th, Ara Mahdessian sold 24,391 shares of ServiceTitan stock. The stock was sold at an average price of $104.65, for a total value of $2,552,518.15.

ServiceTitan Stock Up 1.3%

Shares of TTAN stock opened at $112.57 on Friday. The business’s fifty day moving average is $112.53 and its 200-day moving average is $105.01. ServiceTitan Inc. has a 1 year low of $79.81 and a 1 year high of $131.33. The company has a current ratio of 4.82, a quick ratio of 4.82 and a debt-to-equity ratio of 0.07.

ServiceTitan (NASDAQ:TTAN) last released its earnings results on Thursday, June 5th. The company reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.06. The business had revenue of $215.69 million during the quarter, compared to the consensus estimate of $208.61 million. The company’s quarterly revenue was up 26.6% on a year-over-year basis. Analysts forecast that ServiceTitan Inc. will post -1.98 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Avantax Advisory Services Inc. purchased a new stake in ServiceTitan in the 4th quarter worth approximately $227,000. Virtu Financial LLC bought a new position in ServiceTitan during the fourth quarter valued at about $473,000. Sei Investments Co. acquired a new position in ServiceTitan during the fourth quarter valued at approximately $1,593,000. Vanguard Group Inc. bought a new position in shares of ServiceTitan in the fourth quarter worth about $57,349,000. Finally, Artisan Partners Limited Partnership acquired a new stake in shares of ServiceTitan in the fourth quarter worth $26,439,000.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Stifel Nicolaus boosted their price target on ServiceTitan from $110.00 to $125.00 and gave the stock a “buy” rating in a research report on Friday, May 30th. TD Securities lifted their target price on ServiceTitan from $120.00 to $140.00 and gave the stock a “buy” rating in a research report on Wednesday, May 21st. Canaccord Genuity Group increased their target price on ServiceTitan from $120.00 to $130.00 and gave the company a “buy” rating in a research note on Thursday, April 17th. Morgan Stanley upped their price target on shares of ServiceTitan from $107.00 to $109.00 and gave the company an “equal weight” rating in a report on Friday, June 6th. Finally, Needham & Company LLC restated a “buy” rating and issued a $140.00 target price on shares of ServiceTitan in a research note on Friday, June 6th. Four equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, ServiceTitan currently has a consensus rating of “Moderate Buy” and an average target price of $122.21.

ServiceTitan Company Profile

ServiceTitan, Inc engages in the collection of field service activities required to install, maintain, and service the infrastructure and systems of residences and commercial buildings. The company was founded by Ara Mahdessian and Vahe Kuzoyan on June 8, 2008 and is headquartered in Glendale, CA.