ServiceTitan (NASDAQ:TTAN) CFO Sells $1,229,061.60 in Stock

ServiceTitan Inc. (NASDAQ:TTAN) CFO David Sherry sold 11,672 shares of the stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $105.30, for a total value of $1,229,061.60. Following the completion of the transaction, the chief financial officer owned 331,781 shares in the company, valued at approximately $34,936,539.30. The trade was a 3.40% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.

David Sherry also recently made the following trade(s):

• On Monday, November 17th, David Sherry sold 833 shares of ServiceTitan stock. The stock was sold at an average price of $86.20, for a total transaction of $71,804.60.
• On Tuesday, October 21st, David Sherry sold 853 shares of ServiceTitan stock. The stock was sold at an average price of $96.39, for a total transaction of $82,220.67.
• On Monday, October 20th, David Sherry sold 833 shares of ServiceTitan stock. The shares were sold at an average price of $93.04, for a total value of $77,502.32.

ServiceTitan Stock Up 1.5%

Shares of TTAN traded up $1.64 during trading hours on Thursday, reaching $107.53. 905,926 shares of the stock traded hands, compared to its average volume of 869,177. ServiceTitan Inc. has a 52 week low of $79.81 and a 52 week high of $131.33. The stock has a fifty day simple moving average of $95.19 and a 200 day simple moving average of $103.80. The company has a market cap of $9.99 billion and a price-to-earnings ratio of -26.36. The company has a current ratio of 4.14, a quick ratio of 4.14 and a debt-to-equity ratio of 0.07.

ServiceTitan (NASDAQ:TTAN) last announced its quarterly earnings data on Thursday, December 4th. The company reported $0.24 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $249.16 million during the quarter, compared to the consensus estimate of $238.26 million. During the same quarter in the prior year, the company earned $0.75 EPS. The business’s revenue for the quarter was up 25.0% on a year-over-year basis. On average, equities analysts forecast that ServiceTitan Inc. will post -1.98 EPS for the current year.

Analyst Ratings Changes

A number of research firms have weighed in on TTAN. Wells Fargo & Company lifted their target price on ServiceTitan from $130.00 to $140.00 and gave the company an “overweight” rating in a report on Friday, September 19th. 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. Morgan Stanley upped their target price on shares of ServiceTitan from $118.00 to $125.00 and gave the stock an “equal weight” rating in a report on Friday, December 5th. Weiss Ratings reiterated a “sell (e+)” rating on shares of ServiceTitan in a research note on Monday, December 1st. Finally, BTIG Research began coverage on shares of ServiceTitan in a report on Tuesday. They issued a “buy” rating and a $130.00 price target for the company. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $134.25.

Institutional Trading of ServiceTitan

Several hedge funds and other institutional investors have recently bought and sold shares of TTAN. Vanguard Group Inc. grew its position in ServiceTitan by 538.4% during the third quarter. Vanguard Group Inc. now owns 4,429,930 shares of the company’s stock valued at $446,670,000 after acquiring an additional 3,735,968 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of ServiceTitan by 118.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,893,959 shares of the company’s stock valued at $291,798,000 after purchasing an additional 1,569,136 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of ServiceTitan by 1.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,306,168 shares of the company’s stock valued at $219,341,000 after purchasing an additional 32,066 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its holdings in shares of ServiceTitan by 1,545.2% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,055,736 shares of the company’s stock valued at $195,521,000 after purchasing an additional 1,930,779 shares during the last quarter. Finally, Franklin Resources Inc. raised its position in ServiceTitan by 148.4% in the 2nd quarter. Franklin Resources Inc. now owns 1,893,237 shares of the company’s stock worth $202,917,000 after purchasing an additional 1,131,062 shares during the period.

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.