ServiceTitan (NASDAQ:TTAN) Director William J.G. Griffith Sells 200 Shares

ServiceTitan Inc. (NASDAQ:TTAN) Director William J.G. Griffith sold 200 shares of the stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $63.01, for a total value of $12,602.00. Following the completion of the sale, the director directly owned 483,550 shares of the company’s stock, valued at approximately $30,468,485.50. This represents a 0.04% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

William J.G. Griffith also recently made the following trade(s):

• On Tuesday, June 23rd, William J.G. Griffith sold 94,415 shares of ServiceTitan stock. The stock was sold at an average price of $63.43, for a total value of $5,988,743.45.

ServiceTitan Trading Up 1.3%

NASDAQ:TTAN traded up $0.84 during trading hours on Wednesday, hitting $65.03. The company had a trading volume of 983,727 shares, compared to its average volume of 1,395,674. ServiceTitan Inc. has a 1 year low of $54.17 and a 1 year high of $119.99. The company has a market cap of $6.20 billion, a P/E ratio of -44.85 and a beta of 0.13. The company has a 50-day moving average of $64.54 and a 200 day moving average of $76.17.

ServiceTitan (NASDAQ:TTAN) last announced its quarterly earnings results on Thursday, June 4th. The company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.09. ServiceTitan had a negative net margin of 13.44% and a negative return on equity of 5.59%. The firm had revenue of $268.82 million for the quarter, compared to analysts’ expectations of $257.40 million. During the same quarter in the previous year, the company posted $0.18 EPS. The company’s revenue was up 24.6% compared to the same quarter last year. On average, analysts forecast that ServiceTitan Inc. will post -0.54 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on TTAN. BMO Capital Markets increased their price target on shares of ServiceTitan from $92.00 to $103.00 and gave the company an “outperform” rating in a research note on Friday, June 5th. Canaccord Genuity Group decreased their price objective on ServiceTitan from $140.00 to $105.00 and set a “buy” rating on the stock in a report on Friday, March 13th. Stifel Nicolaus set a $125.00 price objective on ServiceTitan in a research report on Wednesday, May 27th. Wells Fargo & Company cut their target price on ServiceTitan from $125.00 to $115.00 and set an “overweight” rating for the company in a research note on Friday, March 13th. Finally, Piper Sandler lifted their target price on ServiceTitan from $100.00 to $115.00 and gave the company an “overweight” rating in a research report on Friday, June 5th. Fifteen analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $110.53.

Institutional Trading of ServiceTitan

Several institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in shares of ServiceTitan by 538.4% in the third quarter. Vanguard Group Inc. now owns 4,429,930 shares of the company’s stock valued at $446,670,000 after purchasing an additional 3,735,968 shares during the period. Thornburg Investment Management Inc. purchased a new stake in ServiceTitan during the 3rd quarter worth approximately $8,338,000. Sandhill Capital Partners LLC acquired a new stake in ServiceTitan during the 3rd quarter worth approximately $27,062,000. Renaissance Capital LLC boosted its position in ServiceTitan by 222.8% in the 4th quarter. Renaissance Capital LLC now owns 41,223 shares of the company’s stock valued at $4,390,000 after buying an additional 28,454 shares during the period. Finally, CIBC Bancorp USA Inc. purchased a new position in ServiceTitan in the 3rd quarter valued at approximately $84,983,000.

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.