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

ServiceTitan Inc. (NASDAQ:TTAN) CEO Ara Mahdessian sold 3,038 shares of the firm’s stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $105.30, for a total transaction of $319,901.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 stock was 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 value of $4,253,938.80.
• 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 value 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 value 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 Up 1.5%

ServiceTitan stock traded up $1.64 on Thursday, hitting $107.53. 905,926 shares of the stock traded hands, compared to its average volume of 869,177. ServiceTitan Inc. has a 1 year low of $79.81 and a 1 year high of $131.33. The firm has a market cap of $9.99 billion and a P/E 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. The business’s fifty day simple moving average is $95.19 and its 200 day simple moving average is $103.80.

ServiceTitan (NASDAQ:TTAN) last issued its quarterly earnings results on Thursday, December 4th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.09. ServiceTitan had a negative net margin of 23.91% and a negative return on equity of 10.96%. The company had revenue of $249.16 million during the quarter, compared to analyst estimates of $238.26 million. During the same period last year, the business earned $0.75 EPS. ServiceTitan’s quarterly revenue was up 25.0% compared to the same quarter last year. As a group, sell-side analysts forecast that ServiceTitan Inc. will post -1.98 earnings per share for the current year.

Institutional Investors Weigh In On ServiceTitan

Large investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its position in ServiceTitan by 538.4% in the 3rd quarter. Vanguard Group Inc. now owns 4,429,930 shares of the company’s stock worth $446,670,000 after buying an additional 3,735,968 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of ServiceTitan by 118.4% in the third quarter. JPMorgan Chase & Co. now owns 2,893,959 shares of the company’s stock worth $291,798,000 after acquiring an additional 1,569,136 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of ServiceTitan by 1.4% during the first 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 during the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its position in ServiceTitan by 1,545.2% during the first 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 period. Finally, Franklin Resources Inc. boosted its holdings in ServiceTitan by 148.4% in the second 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 last quarter.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on TTAN shares. Canaccord Genuity Group raised their price objective on ServiceTitan from $130.00 to $140.00 and gave the company a “buy” rating in a research report on Friday, September 19th. Stifel Nicolaus increased their target price on ServiceTitan from $135.00 to $145.00 and gave the stock a “buy” rating in a research note on Friday, September 19th. Cowen reaffirmed a “buy” rating on shares of ServiceTitan in a research report on Friday, December 5th. BMO Capital Markets increased their price objective on shares of ServiceTitan from $115.00 to $125.00 and gave the company an “outperform” rating in a research report on Friday, December 5th. Finally, Truist Financial set a $130.00 price objective on shares of ServiceTitan in a research note on Tuesday, October 21st. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $134.25.

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.