ServiceTitan (NASDAQ:TTAN) CAO Michele O’connor Sells 1,678 Shares of Stock

ServiceTitan Inc. (NASDAQ:TTAN) CAO Michele O’connor sold 1,678 shares of ServiceTitan stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $105.30, for a total value of $176,693.40. Following the completion of the transaction, the chief accounting officer owned 89,571 shares in the company, valued at approximately $9,431,826.30. This represents a 1.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link.

ServiceTitan Trading Up 1.5%

Shares of TTAN stock opened at $107.53 on Friday. The business has a 50-day moving average of $95.31 and a 200 day moving average of $103.82. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.14 and a quick ratio of 4.14. ServiceTitan Inc. has a 1-year low of $79.81 and a 1-year high of $131.33. The stock has a market capitalization of $9.99 billion and a PE ratio of -26.36.

ServiceTitan (NASDAQ:TTAN) last announced its quarterly earnings results on Thursday, December 4th. The company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.09. ServiceTitan had a negative return on equity of 10.96% and a negative net margin of 23.91%.The business had revenue of $249.16 million for the quarter, compared to analysts’ expectations of $238.26 million. During the same period in the previous year, the firm earned $0.75 EPS. The business’s quarterly revenue was up 25.0% on a year-over-year basis. As a group, sell-side analysts anticipate that ServiceTitan Inc. will post -1.98 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on TTAN. Raymond James Financial initiated coverage on shares of ServiceTitan in a research note on Friday, August 29th. They issued a “market perform” rating on the stock. Canaccord Genuity Group boosted their price objective on shares of ServiceTitan from $130.00 to $140.00 and gave the company a “buy” rating in a research report on Friday, September 19th. UBS Group reiterated a “buy” rating on shares of ServiceTitan in a report on Monday, December 1st. Needham & Company LLC reissued a “buy” rating and issued a $140.00 target price on shares of ServiceTitan in a research note on Friday, September 5th. Finally, Truist Financial set a $130.00 price target on ServiceTitan in a report on Tuesday, October 21st. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $134.25.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in ServiceTitan by 538.4% in the third quarter. Vanguard Group Inc. now owns 4,429,930 shares of the company’s stock worth $446,670,000 after acquiring an additional 3,735,968 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its position in shares of ServiceTitan by 1,545.2% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,055,736 shares of the company’s stock worth $195,521,000 after purchasing an additional 1,930,779 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in ServiceTitan by 118.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,893,959 shares of the company’s stock worth $291,798,000 after purchasing an additional 1,569,136 shares in the last quarter. Invesco Ltd. boosted its stake in ServiceTitan by 1,388.2% in the 2nd quarter. Invesco Ltd. now owns 1,477,369 shares of the company’s stock worth $158,344,000 after purchasing an additional 1,378,100 shares in the last quarter. Finally, Franklin Resources Inc. grew its position in ServiceTitan by 148.4% during the 2nd quarter. Franklin Resources Inc. now owns 1,893,237 shares of the company’s stock valued at $202,917,000 after purchasing an additional 1,131,062 shares during the last quarter.

About ServiceTitan

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.