ServiceTitan (NASDAQ:TTAN) Shares Gap Down Following Insider Selling

Shares of ServiceTitan Inc. (NASDAQ:TTAN) gapped down prior to trading on Thursday after an insider sold shares in the company. The stock had previously closed at $78.01, but opened at $74.95. ServiceTitan shares last traded at $78.5490, with a volume of 146,976 shares trading hands.

Specifically, CAO Michele O’connor sold 4,910 shares of ServiceTitan stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $80.93, for a total transaction of $397,366.30. Following the transaction, the chief accounting officer directly owned 71,676 shares of the company’s stock, valued at approximately $5,800,738.68. This trade represents a 6.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Ara Mahdessian sold 51,947 shares of the business’s stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $80.98, for a total transaction of $4,206,668.06. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Wall Street Analyst Weigh In

TTAN has been the subject of several analyst reports. Robert W. Baird upped their price target on shares of ServiceTitan from $75.00 to $94.00 and gave the company an “outperform” rating in a research report on Monday, June 8th. Piper Sandler boosted their target price on ServiceTitan from $100.00 to $115.00 and gave the company an “overweight” rating in a research note on Friday, June 5th. TD Cowen increased their target price on ServiceTitan from $110.00 to $125.00 and gave the company a “buy” rating in a report on Friday, June 5th. William Blair reaffirmed an “outperform” rating on shares of ServiceTitan in a research note on Friday, March 13th. Finally, Citigroup reiterated a “neutral” rating on shares of ServiceTitan in a research report on Monday, June 8th. Fifteen equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, ServiceTitan currently has a consensus rating of “Moderate Buy” and an average price target of $110.53.

ServiceTitan Price Performance

The company has a market capitalization of $7.50 billion, a P/E ratio of -54.03 and a beta of 0.13. The company has a 50 day moving average of $66.98 and a 200-day moving average of $73.69.

ServiceTitan (NASDAQ:TTAN) last released its quarterly earnings results on Thursday, June 4th. The company reported $0.37 EPS 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 in the prior year, the company posted $0.18 EPS. ServiceTitan’s quarterly revenue was up 24.6% compared to the same quarter last year. Research analysts predict that ServiceTitan Inc. will post -0.54 EPS for the current fiscal year.

Institutional Trading of ServiceTitan

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Toth Financial Advisory Corp raised its position in shares of ServiceTitan by 150.0% in the 4th quarter. Toth Financial Advisory Corp now owns 250 shares of the company’s stock worth $27,000 after purchasing an additional 150 shares during the last quarter. Farther Finance Advisors LLC grew its position in ServiceTitan by 189.1% during the 4th 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 last quarter. eCIO Inc. bought a new stake in ServiceTitan during the 4th quarter valued at about $30,000. Elevation Wealth Partners LLC bought a new stake in ServiceTitan during the 4th quarter valued at about $36,000. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in ServiceTitan by 1,005.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 431 shares of the company’s stock worth $46,000 after buying an additional 392 shares during the last quarter.

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.