ServiceTitan (NASDAQ:TTAN) President Vahe Kuzoyan Sells 3,208 Shares of Stock

ServiceTitan Inc. (NASDAQ:TTAN) President Vahe Kuzoyan sold 3,208 shares of ServiceTitan stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $66.19, for a total value of $212,337.52. Following the completion of the transaction, the president owned 1 shares in the company, valued at approximately $66.19. The trade was a 99.97% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

ServiceTitan Stock Performance

ServiceTitan stock opened at $62.45 on Thursday. ServiceTitan Inc. has a 52 week low of $54.17 and a 52 week high of $119.99. The stock has a market capitalization of $5.96 billion, a P/E ratio of -43.07 and a beta of 0.13. The stock has a fifty day moving average of $64.22 and a 200-day moving average of $76.92.

ServiceTitan (NASDAQ:TTAN) last released its quarterly earnings data 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. The business had revenue of $268.82 million for the quarter, compared to analyst estimates of $257.40 million. ServiceTitan had a negative return on equity of 5.59% and a negative net margin of 13.44%.ServiceTitan’s revenue was up 24.6% compared to the same quarter last year. During the same period last year, the firm posted $0.18 earnings per share. On average, research analysts forecast that ServiceTitan Inc. will post -0.54 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on TTAN. Wells Fargo & Company decreased their price target on shares of ServiceTitan from $125.00 to $115.00 and set an “overweight” rating on the stock in a report on Friday, March 13th. KeyCorp reissued an “overweight” rating on shares of ServiceTitan in a research note on Tuesday, May 26th. Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 target price on shares of ServiceTitan in a research note on Wednesday. Canaccord Genuity Group lowered 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. Finally, TD Cowen increased their price target on ServiceTitan from $110.00 to $125.00 and gave the company a “buy” rating in a research note on Friday, June 5th. Fifteen equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $110.53.

Hedge Funds Weigh In On ServiceTitan

Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in ServiceTitan by 9.9% in the fourth quarter. Vanguard Group Inc. now owns 4,869,009 shares of the company’s stock valued at $518,549,000 after purchasing an additional 439,079 shares during the period. JPMorgan Chase & Co. lifted its holdings in ServiceTitan by 118.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,893,959 shares of the company’s stock worth $291,798,000 after buying an additional 1,569,136 shares during the period. Franklin Resources Inc. grew its position in shares of ServiceTitan by 33.8% in the 4th quarter. Franklin Resources Inc. now owns 2,014,025 shares of the company’s stock valued at $214,494,000 after buying an additional 508,848 shares during the last quarter. Artisan Partners Limited Partnership grew its position in shares of ServiceTitan by 47.3% in the 4th quarter. Artisan Partners Limited Partnership now owns 1,617,353 shares of the company’s stock valued at $172,248,000 after buying an additional 519,024 shares during the last quarter. Finally, Greenoaks Capital Partners LLC increased its stake in shares of ServiceTitan by 20.6% in the fourth quarter. Greenoaks Capital Partners LLC now owns 1,552,257 shares of the company’s stock valued at $165,315,000 after buying an additional 264,926 shares during the period.

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.