ServiceTitan (NASDAQ:TTAN) Director Byron Deeter Sells 8,845 Shares

ServiceTitan Inc. (NASDAQ:TTAN) Director Byron Deeter sold 8,845 shares of the stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $63.35, for a total value of $560,330.75. Following the completion of the transaction, the director owned 13,782 shares in the company, valued at approximately $873,089.70. This represents a 39.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

ServiceTitan Trading Down 2.5%

TTAN opened at $63.40 on Friday. ServiceTitan Inc. has a 1-year low of $54.17 and a 1-year high of $119.99. The company has a market cap of $6.05 billion, a price-to-earnings ratio of -43.72 and a beta of 0.13. The company’s fifty day moving average price is $64.82 and its two-hundred day moving average price is $75.66.

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

Analysts Set New Price Targets

TTAN has been the subject of a number of analyst reports. Needham & Company LLC reissued a “buy” rating and issued a $100.00 price target on shares of ServiceTitan in a research report on Wednesday, June 17th. Wells Fargo & Company dropped their price target on shares of ServiceTitan from $125.00 to $115.00 and set an “overweight” rating on the stock in a research report on Friday, March 13th. Piper Sandler upped their price objective on shares of ServiceTitan from $100.00 to $115.00 and gave the stock an “overweight” rating in a research report on Friday, June 5th. The Goldman Sachs Group dropped their target price on shares of ServiceTitan from $117.00 to $84.00 and set a “neutral” rating on the stock in a research report on Monday, March 16th. Finally, Morgan Stanley upped their target price on ServiceTitan from $118.00 to $124.00 and gave the company an “overweight” rating in a report on Friday, June 5th. Fifteen investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $110.53.

Key Stories Impacting ServiceTitan

Here are the key news stories impacting ServiceTitan this week:

• Positive Sentiment: ServiceTitan highlighted early results from its Max platform, saying the AI-powered product is helping automate and improve multiple parts of the contractor workflow, including lead generation, dispatch, field execution, and technician revenue. ServiceTitan’s Max Drives AI-Powered Growth for Contractors
• Neutral Sentiment: The company said short interest data was essentially unchanged at 0 shares, so there is no meaningful short-selling signal from the latest report.
• Negative Sentiment: Director Byron B. Deeter sold 8,845 shares, reducing his stake by about 39%, adding to investor concern around insider confidence. SEC filing
• Negative Sentiment: Major shareholder Iconiq Strategic Partners V, L sold 94,415 shares, a 17.6% reduction in its position, which may pressure sentiment toward TTAN. SEC filing
• Negative Sentiment: Director William J.G. Griffith also sold shares, adding to the pattern of insider selling around ServiceTitan stock. SEC filing

Hedge Funds Weigh In On ServiceTitan

Institutional investors have recently bought and sold shares of the company. Toth Financial Advisory Corp grew its stake in shares of ServiceTitan by 150.0% during the 4th quarter. Toth Financial Advisory Corp now owns 250 shares of the company’s stock worth $27,000 after acquiring an additional 150 shares during the period. Farther Finance Advisors LLC lifted its holdings in ServiceTitan by 189.1% during the fourth quarter. Farther Finance Advisors LLC now owns 266 shares of the company’s stock valued at $28,000 after purchasing an additional 174 shares during the last quarter. eCIO Inc. purchased a new stake in ServiceTitan during the fourth quarter valued at about $30,000. Elevation Wealth Partners LLC bought a new position in ServiceTitan during the fourth quarter worth about $36,000. Finally, Northwestern Mutual Wealth Management Co. boosted its position in ServiceTitan by 1,005.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 431 shares of the company’s stock worth $46,000 after purchasing an additional 392 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.