Insider Selling: ServiceTitan (NASDAQ:TTAN) CEO Sells $4,217,668.50 in Stock

ServiceTitan Inc. (NASDAQ:TTAN) CEO Ara Mahdessian sold 49,766 shares of the firm’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $84.75, for a total value of $4,217,668.50. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Tuesday, August 4th, Ara Mahdessian sold 38,287 shares of ServiceTitan stock. The shares were sold at an average price of $84.89, for a total value of $3,250,183.43.
• On Tuesday, July 7th, Ara Mahdessian sold 51,947 shares of ServiceTitan stock. The shares were 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 Performance

Shares of NASDAQ:TTAN traded up $0.26 during trading on Wednesday, reaching $86.50. The stock had a trading volume of 821,845 shares, compared to its average volume of 1,462,982. The firm’s fifty day moving average is $73.31 and its 200 day moving average is $69.97. ServiceTitan Inc. has a 52 week low of $54.17 and a 52 week high of $119.99. The stock has a market cap of $8.25 billion, a price-to-earnings ratio of -59.65 and a beta of 0.02.

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

Hedge Funds Weigh In On ServiceTitan

A number of hedge funds have recently added to or reduced their stakes in TTAN. Farther Finance Advisors LLC lifted its holdings in shares of ServiceTitan by 189.1% in 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 in the last quarter. Northwestern Mutual Wealth Management Co. raised its position in ServiceTitan by 1,005.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 431 shares of the company’s stock valued at $46,000 after buying an additional 392 shares during the last quarter. State of Wyoming purchased a new stake in ServiceTitan in the 1st quarter valued at $48,000. Sunbelt Securities Inc. lifted its stake in ServiceTitan by 391.0% during the 4th quarter. Sunbelt Securities Inc. now owns 491 shares of the company’s stock valued at $52,000 after acquiring an additional 391 shares in the last quarter. Finally, Parallel Advisors LLC boosted its holdings in ServiceTitan by 161.7% during the 3rd quarter. Parallel Advisors LLC now owns 526 shares of the company’s stock worth $53,000 after acquiring an additional 325 shares during the last quarter.

Wall Street Analyst Weigh In

TTAN has been the topic of several recent analyst reports. TD Cowen boosted 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. Weiss Ratings reissued a “sell (e+)” rating on shares of ServiceTitan in a research note on Tuesday, July 21st. Piper Sandler upped their price objective on shares of ServiceTitan from $100.00 to $115.00 and gave the company an “overweight” rating in a report on Friday, June 5th. KeyCorp restated an “overweight” rating on shares of ServiceTitan in a research note on Tuesday, May 26th. Finally, Robert W. Baird raised their price objective on ServiceTitan from $75.00 to $94.00 and gave the company an “outperform” rating in a research note on Monday, June 8th. 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 data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target 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.