Ara Mahdessian Sells 3,038 Shares of ServiceTitan (NASDAQ:TTAN) Stock

ServiceTitan Inc. (NASDAQ:TTAN) CEO Ara Mahdessian sold 3,038 shares of the stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $105.30, for a total value of $319,901.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Thursday, December 11th, Ara Mahdessian sold 42,666 shares of ServiceTitan stock. The shares were sold at an average price of $106.85, for a total transaction of $4,558,862.10.
• On Wednesday, December 10th, Ara Mahdessian sold 88,525 shares of ServiceTitan stock. The stock was sold at an average price of $107.56, for a total transaction of $9,521,749.00.
• On Thursday, November 6th, Ara Mahdessian sold 46,542 shares of ServiceTitan stock. The shares were sold at an average price of $91.40, for a total transaction of $4,253,938.80.
• On Thursday, November 6th, Ara Mahdessian sold 46,542 shares of ServiceTitan stock. The stock was sold at an average price of $91.40, for a total transaction of $4,253,938.80.
• On Wednesday, November 5th, Ara Mahdessian sold 14,263 shares of ServiceTitan stock. The stock was sold at an average price of $91.72, for a total transaction of $1,308,202.36.
• On Wednesday, November 5th, Ara Mahdessian sold 14,263 shares of ServiceTitan stock. The shares were sold at an average price of $91.72, for a total transaction of $1,308,202.36.
• On Monday, October 13th, Ara Mahdessian sold 32,000 shares of ServiceTitan stock. The stock was sold at an average price of $97.85, for a total value of $3,131,200.00.

ServiceTitan Stock Performance

NASDAQ:TTAN traded up $1.64 during mid-day trading on Thursday, hitting $107.53. 905,926 shares of the company traded hands, compared to its average volume of 869,177. The company has a quick ratio of 4.14, a current ratio of 4.14 and a debt-to-equity ratio of 0.07. The stock’s fifty day moving average price is $95.19 and its 200-day moving average price is $103.80. The firm has a market cap of $9.99 billion and a price-to-earnings ratio of -26.36. ServiceTitan Inc. has a one year low of $79.81 and a one year high of $131.33.

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

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Robert W. Baird raised their price objective on shares of ServiceTitan from $124.00 to $130.00 and gave the company an “outperform” rating in a research report on Friday, September 5th. Weiss Ratings restated a “sell (e+)” rating on shares of ServiceTitan in a research report on Monday, December 1st. KeyCorp reaffirmed an “overweight” rating on shares of ServiceTitan in a research note on Tuesday. BMO Capital Markets increased their target price on ServiceTitan from $115.00 to $125.00 and gave the stock an “outperform” rating in a research report on Friday, December 5th. Finally, BTIG Research initiated coverage on ServiceTitan in a report on Tuesday. They issued a “buy” rating and a $130.00 price target on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, ServiceTitan currently has a consensus rating of “Moderate Buy” and an average target price of $134.25.

Institutional Trading of ServiceTitan

A number of large investors have recently added to or reduced their stakes in the company. Cloud Capital Management LLC bought a new position in shares of ServiceTitan during the 3rd quarter valued at approximately $25,000. Northwestern Mutual Wealth Management Co. raised its stake in ServiceTitan by 1,005.1% during the second 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 in the last quarter. Whittier Trust Co. bought a new position in ServiceTitan during the third quarter valued at $52,000. Parallel Advisors LLC grew its stake 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 buying an additional 325 shares in the last quarter. Finally, PNC Financial Services Group Inc. purchased a new position in shares of ServiceTitan in the 2nd quarter worth $79,000.

ServiceTitan Company Profile

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.