Moore Capital Management LP Buys Shares of 131,616 ServiceTitan Inc. $TTAN

Moore Capital Management LP bought a new stake in shares of ServiceTitan Inc. (NASDAQ:TTAN) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 131,616 shares of the company’s stock, valued at approximately $14,017,000. Moore Capital Management LP owned approximately 0.14% of ServiceTitan at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Toth Financial Advisory Corp grew its position in shares of ServiceTitan by 150.0% in the fourth quarter. Toth Financial Advisory Corp now owns 250 shares of the company’s stock valued at $27,000 after purchasing an additional 150 shares during the last quarter. Farther Finance Advisors LLC grew its position 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 last quarter. eCIO Inc. acquired a new stake in shares of ServiceTitan in the fourth quarter valued at about $30,000. Elevation Wealth Partners LLC acquired a new stake in shares of ServiceTitan in the fourth quarter valued at about $36,000. Finally, Northwestern Mutual Wealth Management Co. grew its position in shares of ServiceTitan by 1,005.1% in the second 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 during the last quarter.

Insider Buying and Selling at ServiceTitan

In other ServiceTitan news, President Vahe Kuzoyan sold 3,208 shares of the company’s stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $66.19, for a total transaction of $212,337.52. Following the completion of the sale, the president owned 1 shares in the company, valued at approximately $66.19. The trade was a 99.97% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Michele O’connor sold 5,304 shares of the company’s stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $66.19, for a total transaction of $351,071.76. Following the sale, the chief accounting officer owned 76,586 shares of the company’s stock, valued at $5,069,227.34. The trade was a 6.48% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have sold 46,732 shares of company stock worth $3,086,391. 39.89% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. William Blair reaffirmed an “outperform” rating on shares of ServiceTitan in a research report on Friday, March 13th. Canaccord Genuity Group decreased their target price on ServiceTitan from $140.00 to $105.00 and set a “buy” rating on the stock in a research report on Friday, March 13th. KeyCorp reissued an “overweight” rating on shares of ServiceTitan in a research report on Tuesday, May 26th. Needham & Company LLC reissued a “buy” rating and set a $100.00 target price on shares of ServiceTitan in a research report on Wednesday. Finally, Stifel Nicolaus set a $125.00 target price on ServiceTitan in a research report on Wednesday, May 27th. Fifteen analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $110.53.

ServiceTitan Price Performance

TTAN stock opened at $62.45 on Thursday. The company has a 50 day moving average price of $64.22 and a 200 day moving average price of $76.92. ServiceTitan Inc. has a fifty-two week low of $54.17 and a fifty-two week high of $119.99. The stock has a market capitalization of $5.96 billion, a PE ratio of -43.07 and a beta of 0.13.

ServiceTitan (NASDAQ:TTAN) last posted its quarterly earnings data on Thursday, June 4th. The company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.09. The firm had revenue of $268.82 million during 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%. ServiceTitan’s revenue was up 24.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.18 EPS. As a group, equities analysts expect that ServiceTitan Inc. will post -0.54 earnings per share for the current fiscal 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.