David Sherry Sells 20,192 Shares of ServiceTitan (NASDAQ:TTAN) Stock

ServiceTitan Inc. (NASDAQ:TTAN) CFO David Sherry sold 20,192 shares of the stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $66.19, for a total value of $1,336,508.48. Following the sale, the chief financial officer directly owned 398,033 shares in the company, valued at $26,345,804.27. This trade represents a 4.83% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

ServiceTitan Stock Up 2.9%

Shares of NASDAQ TTAN opened at $64.23 on Friday. ServiceTitan Inc. has a 52 week low of $54.17 and a 52 week high of $119.99. The business has a 50-day simple moving average of $64.25 and a two-hundred day simple moving average of $76.74. The company has a market cap of $6.13 billion, a P/E ratio of -44.30 and a beta of 0.13.

ServiceTitan (NASDAQ:TTAN) last posted its earnings results on Thursday, June 4th. The company reported $0.37 earnings per share 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 previous year, the firm earned $0.18 EPS. The company’s quarterly revenue was up 24.6% compared to the same quarter last year. Equities research analysts anticipate that ServiceTitan Inc. will post -0.54 EPS for the current year.

Hedge Funds Weigh In On ServiceTitan

A number of hedge funds and other institutional investors have recently bought and sold shares of TTAN. Toth Financial Advisory Corp raised its position in shares of ServiceTitan by 150.0% during the 4th quarter. Toth Financial Advisory Corp now owns 250 shares of the company’s stock valued at $27,000 after buying an additional 150 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of ServiceTitan by 189.1% during the 4th quarter. Farther Finance Advisors LLC now owns 266 shares of the company’s stock worth $28,000 after acquiring an additional 174 shares during the last quarter. eCIO Inc. purchased a new position in ServiceTitan in the fourth quarter worth $30,000. Elevation Wealth Partners LLC purchased a new position in ServiceTitan in the fourth quarter worth $36,000. Finally, Northwestern Mutual Wealth Management Co. increased its stake in 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 acquiring an additional 392 shares during the last quarter.

Analyst Ratings Changes

A number of analysts recently weighed in on TTAN shares. Piper Sandler upped their target price on shares of ServiceTitan from $100.00 to $115.00 and gave the stock an “overweight” rating in a report on Friday, June 5th. Canaccord Genuity Group cut their price target on shares of ServiceTitan from $140.00 to $105.00 and set a “buy” rating for the company in a report on Friday, March 13th. Needham & Company LLC restated a “buy” rating and set a $100.00 price target on shares of ServiceTitan in a research report on Wednesday. TD Cowen upped their price target on shares of ServiceTitan from $110.00 to $125.00 and gave the stock a “buy” rating in a report on Friday, June 5th. Finally, Morgan Stanley increased their price objective on ServiceTitan from $118.00 to $124.00 and gave the stock an “overweight” rating in a research report on Friday, June 5th. Fifteen investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $110.53.

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.