ServiceTitan (NASDAQ:TTAN) President Sells 114,732 Shares of Stock

ServiceTitan Inc. (NASDAQ:TTAN) President Vahe Kuzoyan sold 114,732 shares of the firm’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $88.84, for a total transaction of $10,192,790.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Vahe Kuzoyan also recently made the following trade(s):

• On Wednesday, August 12th, Vahe Kuzoyan sold 16,388 shares of ServiceTitan stock. The stock was sold at an average price of $88.95, for a total transaction of $1,457,712.60.
• On Wednesday, June 17th, Vahe Kuzoyan sold 3,208 shares of ServiceTitan stock. The shares were sold at an average price of $66.19, for a total transaction of $212,337.52.

ServiceTitan Stock Up 1.8%

TTAN stock traded up $1.70 during trading on Thursday, hitting $93.70. The company had a trading volume of 1,201,068 shares, compared to its average volume of 1,457,846. The firm has a 50-day moving average price of $75.28 and a 200-day moving average price of $69.86. ServiceTitan Inc. has a 12 month low of $54.17 and a 12 month high of $119.99. The stock has a market cap of $8.94 billion, a price-to-earnings ratio of -64.62 and a beta of 0.02.

ServiceTitan (NASDAQ:TTAN) last released its earnings results on Thursday, June 4th. The company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.28 by $0.09. The company had revenue of $268.82 million during the quarter, compared to analysts’ expectations of $257.40 million. ServiceTitan had a negative return on equity of 5.59% and a negative net margin of 13.44%.The business’s revenue for the quarter was up 24.6% on a year-over-year basis. During the same period last year, the firm earned $0.18 EPS. Equities analysts expect that ServiceTitan Inc. will post -0.54 EPS for the current year.

Hedge Funds Weigh In On ServiceTitan

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in ServiceTitan during the fourth quarter valued at approximately $112,678,000. Fuller & Thaler Asset Management Inc. acquired a new stake in ServiceTitan in the fourth quarter worth $89,702,000. Madison Asset Management LLC acquired a new stake in ServiceTitan in the second quarter worth $56,118,000. Atreides Management LP bought a new position in shares of ServiceTitan during the second quarter worth $68,679,000. Finally, Two Sigma Investments LP bought a new position in shares of ServiceTitan during the third quarter worth $58,836,000.

Analyst Ratings Changes

Several analysts have weighed in on the company. Piper Sandler boosted their price objective on ServiceTitan from $100.00 to $115.00 and gave the stock an “overweight” rating in a report on Friday, June 5th. Needham & Company LLC reiterated a “buy” rating and set a $100.00 price target on shares of ServiceTitan in a research report on Wednesday, June 17th. Robert W. Baird increased their price objective on shares of ServiceTitan from $94.00 to $101.00 and gave the company an “outperform” rating in a report on Wednesday. Stifel Nicolaus set a $125.00 price objective on shares of ServiceTitan in a research note on Wednesday, May 27th. Finally, TD Cowen lifted their target price on shares of ServiceTitan from $110.00 to $125.00 and gave the stock a “buy” rating in a report on Friday, June 5th. Fifteen equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $111.00.

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.