Insider Selling: ServiceTitan (NASDAQ:TTAN) President Sells 16,388 Shares of Stock

ServiceTitan Inc. (NASDAQ:TTAN) President Vahe Kuzoyan sold 16,388 shares of ServiceTitan stock in a transaction on Monday, January 5th. The stock was sold at an average price of $100.62, for a total value of $1,648,960.56. Following the sale, the president owned 1 shares in the company, valued at $100.62. This trade represents a 99.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

Vahe Kuzoyan also recently made the following trade(s):

• On Wednesday, December 17th, Vahe Kuzoyan sold 3,038 shares of ServiceTitan stock. The stock was sold at an average price of $105.30, for a total value of $319,901.40.
• On Monday, December 15th, Vahe Kuzoyan sold 16,388 shares of ServiceTitan stock. The stock was sold at an average price of $102.82, for a total value of $1,685,014.16.
• On Tuesday, November 11th, Vahe Kuzoyan sold 16,388 shares of ServiceTitan stock. The shares were sold at an average price of $92.03, for a total transaction of $1,508,187.64.

ServiceTitan Price Performance

Shares of TTAN traded up $3.96 during mid-day trading on Wednesday, reaching $105.74. 567,989 shares of the stock traded hands, compared to its average volume of 872,721. The firm has a fifty day moving average price of $97.94 and a 200 day moving average price of $103.75. The company has a market cap of $9.90 billion and a price-to-earnings ratio of -25.92. 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 Inc. has a 1 year low of $79.81 and a 1 year high of $131.33.

ServiceTitan (NASDAQ:TTAN) last released its quarterly earnings results on Thursday, December 4th. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.09. ServiceTitan had a negative return on equity of 10.96% and a negative net margin of 23.91%.The firm had revenue of $249.16 million for the quarter, compared to analysts’ expectations of $238.26 million. During the same quarter last year, the firm posted $0.75 EPS. The company’s revenue was up 25.0% compared to the same quarter last year. As a group, equities research analysts predict that ServiceTitan Inc. will post -1.98 earnings per share for the current year.

Institutional Investors Weigh In On ServiceTitan

A number of institutional investors have recently modified their holdings of TTAN. Comerica Bank lifted its stake in shares of ServiceTitan by 92,500.0% in the 1st quarter. Comerica Bank now owns 2,778 shares of the company’s stock worth $264,000 after purchasing an additional 2,775 shares during the period. Quantbot Technologies LP purchased a new stake in ServiceTitan during the second quarter valued at approximately $19,146,000. Bank of New York Mellon Corp raised its position in ServiceTitan by 1,247.1% in the second quarter. Bank of New York Mellon Corp now owns 84,704 shares of the company’s stock worth $9,079,000 after acquiring an additional 78,416 shares during the period. Allspring Global Investments Holdings LLC purchased a new position in shares of ServiceTitan during the 3rd quarter worth $27,101,000. Finally, Vestmark Advisory Solutions Inc. purchased a new position in shares of ServiceTitan during the 2nd quarter worth $2,511,000.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Citigroup increased their price target on shares of ServiceTitan from $111.00 to $123.00 and gave the company a “neutral” rating in a research report on Tuesday, September 9th. BTIG Research started coverage on shares of ServiceTitan in a report on Tuesday, December 16th. They set a “buy” rating and a $130.00 target price for the company. UBS Group reissued a “buy” rating on shares of ServiceTitan in a research note on Monday, December 1st. Canaccord Genuity Group upped their price target on ServiceTitan from $130.00 to $140.00 and gave the company a “buy” rating in a research report on Friday, September 19th. Finally, Wells Fargo & Company increased their price objective on ServiceTitan from $130.00 to $140.00 and gave the stock an “overweight” rating in a report on Friday, September 19th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $136.53.

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.