Insider Selling: ServiceTitan (NASDAQ:TTAN) CEO Sells $4,217,668.50 in Stock

ServiceTitan Inc. (NASDAQ:TTAN) CEO Ara Mahdessian sold 49,766 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $84.75, for a total value of $4,217,668.50. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Tuesday, August 4th, Ara Mahdessian sold 38,287 shares of ServiceTitan stock. The shares were sold at an average price of $84.89, for a total value of $3,250,183.43.
• On Tuesday, July 7th, Ara Mahdessian sold 51,947 shares of ServiceTitan stock. The stock was sold at an average price of $80.98, for a total value of $4,206,668.06.
• On Wednesday, June 17th, Ara Mahdessian sold 3,028 shares of ServiceTitan stock. The shares were sold at an average price of $66.19, for a total value of $200,423.32.

ServiceTitan Stock Performance

NASDAQ TTAN opened at $85.83 on Friday. The business’s 50 day moving average price is $74.44 and its 200-day moving average price is $70.02. ServiceTitan Inc. has a fifty-two week low of $54.17 and a fifty-two week high of $119.99. The company has a market cap of $8.19 billion, a P/E ratio of -59.19 and a beta of 0.02.

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

Institutional Investors Weigh In On ServiceTitan

Several hedge funds have recently made changes to their positions in TTAN. Farther Finance Advisors LLC lifted its stake in ServiceTitan by 189.1% in the fourth 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 period. Northwestern Mutual Wealth Management Co. increased its position in ServiceTitan by 1,005.1% during the 2nd 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 period. Sunbelt Securities Inc. raised its holdings in shares of ServiceTitan by 391.0% in the 4th quarter. Sunbelt Securities Inc. now owns 491 shares of the company’s stock valued at $52,000 after purchasing an additional 391 shares in the last quarter. Parallel Advisors LLC lifted its position in shares of ServiceTitan by 161.7% in the 3rd quarter. Parallel Advisors LLC now owns 526 shares of the company’s stock worth $53,000 after purchasing an additional 325 shares during the period. Finally, Daiwa Securities Group Inc. purchased a new stake in shares of ServiceTitan in the 4th quarter worth approximately $68,000.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Needham & Company LLC reissued a “buy” rating and issued a $100.00 price objective on shares of ServiceTitan in a research report on Wednesday, June 17th. KeyCorp restated an “overweight” rating on shares of ServiceTitan in a research report on Tuesday, May 26th. Robert W. Baird upped their target price on ServiceTitan from $75.00 to $94.00 and gave the company an “outperform” rating in a research note on Monday, June 8th. BTIG Research reissued a “buy” rating and set a $110.00 price target on shares of ServiceTitan in a research note on Friday, July 10th. Finally, BMO Capital Markets boosted their price objective on ServiceTitan from $92.00 to $103.00 and gave the company an “outperform” rating in a report on Friday, June 5th. Fifteen investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $110.53.

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.