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

ServiceTitan Inc. (NASDAQ:TTAN) CFO David Sherry sold 11,672 shares of the firm’s stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $105.30, for a total transaction of $1,229,061.60. Following the sale, the chief financial officer owned 331,781 shares in the company, valued at $34,936,539.30. This trade represents a 3.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through 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 value of $71,804.60.
• On Tuesday, October 21st, David Sherry sold 853 shares of ServiceTitan stock. The shares were sold at an average price of $96.39, for a total value of $82,220.67.
• On Monday, October 20th, David Sherry sold 833 shares of ServiceTitan stock. The stock was sold at an average price of $93.04, for a total value of $77,502.32.

ServiceTitan Stock Up 1.5%

Shares of ServiceTitan stock traded up $1.64 during trading hours on Thursday, reaching $107.53. 905,926 shares of the company’s stock were exchanged, compared to its average volume of 869,177. The stock has a market cap of $9.99 billion and a P/E ratio of -26.36. ServiceTitan Inc. has a fifty-two week low of $79.81 and a fifty-two week high of $131.33. The company has a 50 day moving average of $95.19 and a two-hundred day moving average of $103.80. 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 issued its earnings results 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. The company had revenue of $249.16 million for the quarter, compared to analysts’ expectations of $238.26 million. ServiceTitan had a negative net margin of 23.91% and a negative return on equity of 10.96%. ServiceTitan’s quarterly revenue was up 25.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.75 EPS. On average, sell-side analysts forecast that ServiceTitan Inc. will post -1.98 EPS for the current fiscal year.

Hedge Funds Weigh In On ServiceTitan

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

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Wells Fargo & Company boosted their price objective on shares of ServiceTitan from $130.00 to $140.00 and gave the company an “overweight” rating in a report on Friday, September 19th. Piper Sandler cut their price target on ServiceTitan from $155.00 to $140.00 and set an “overweight” rating for the company in a research note on Friday, December 5th. Canaccord Genuity Group increased their price target on ServiceTitan from $130.00 to $140.00 and gave the stock a “buy” rating in a research report on Friday, September 19th. Needham & Company LLC reaffirmed a “buy” rating and issued a $140.00 price objective on shares of ServiceTitan in a report on Friday, September 5th. Finally, BTIG Research assumed coverage on ServiceTitan in a report on Tuesday. They set a “buy” rating and a $130.00 target price on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $134.25.

ServiceTitan Company Profile

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.