ServiceTitan (NASDAQ:TTAN) CEO Ara Mahdessian Sells 38,287 Shares

ServiceTitan Inc. (NASDAQ:TTAN) CEO Ara Mahdessian sold 38,287 shares of the company’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $84.89, for a total transaction of $3,250,183.43. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, August 3rd, Ara Mahdessian sold 49,766 shares of ServiceTitan stock. The shares were sold at an average price of $84.75, for a total transaction of $4,217,668.50.
• On Tuesday, July 7th, Ara Mahdessian sold 51,947 shares of ServiceTitan stock. The stock was sold at an average price of $80.98, for a total transaction of $4,206,668.06.
• On Wednesday, June 17th, Ara Mahdessian sold 3,028 shares of ServiceTitan stock. The stock was sold at an average price of $66.19, for a total transaction of $200,423.32.

ServiceTitan Stock Up 0.3%

NASDAQ TTAN opened at $86.50 on Thursday. The company has a market capitalization of $8.25 billion, a price-to-earnings ratio of -59.65 and a beta of 0.02. ServiceTitan Inc. has a twelve month low of $54.17 and a twelve month high of $119.99. The stock has a fifty day simple moving average of $73.78 and a 200 day simple moving average of $69.94.

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

Institutional Trading of ServiceTitan

Several hedge funds have recently bought and sold shares of TTAN. Vanguard Group Inc. raised its holdings in ServiceTitan by 9.9% during the fourth quarter. Vanguard Group Inc. now owns 4,869,009 shares of the company’s stock worth $518,549,000 after buying an additional 439,079 shares during the last quarter. Renaissance Capital LLC grew its holdings in shares of ServiceTitan by 222.8% during the fourth 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 last quarter. Comerica Bank increased its position in shares of ServiceTitan by 372.3% during the fourth quarter. Comerica Bank now owns 26,513 shares of the company’s stock worth $2,824,000 after acquiring an additional 20,899 shares in the last quarter. Robeco Schweiz AG increased its position in shares of ServiceTitan by 35.3% during the fourth quarter. Robeco Schweiz AG now owns 83,200 shares of the company’s stock worth $8,861,000 after acquiring an additional 21,700 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. raised its holdings in shares of ServiceTitan by 12,542.7% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 31,101 shares of the company’s stock worth $3,165,000 after acquiring an additional 30,855 shares during the last quarter.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on TTAN shares. Morgan Stanley increased their price objective on shares of ServiceTitan from $118.00 to $124.00 and gave the stock an “overweight” rating in a research report on Friday, June 5th. Piper Sandler upped their price target on shares of ServiceTitan from $100.00 to $115.00 and gave the company an “overweight” rating in a research report on Friday, June 5th. TD Cowen increased their price target on ServiceTitan from $110.00 to $125.00 and gave the stock a “buy” rating in a report on Friday, June 5th. BMO Capital Markets lifted their price objective on ServiceTitan from $92.00 to $103.00 and gave the stock an “outperform” rating in a research report on Friday, June 5th. Finally, UBS Group reissued a “buy” rating on shares of ServiceTitan in a research note on Wednesday, July 22nd. Fifteen research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $110.53.

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.