Bullseye Asset Management LLC Has $2.33 Million Stock Holdings in ServiceTitan Inc. $TTAN

Bullseye Asset Management LLC lifted its position in ServiceTitan Inc. (NASDAQ:TTAN) by 122.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,836 shares of the company’s stock after acquiring an additional 12,000 shares during the period. Bullseye Asset Management LLC’s holdings in ServiceTitan were worth $2,325,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Toth Financial Advisory Corp raised its position in shares of ServiceTitan by 150.0% in the 4th quarter. Toth Financial Advisory Corp now owns 250 shares of the company’s stock valued at $27,000 after acquiring an additional 150 shares during the period. Farther Finance Advisors LLC raised its position in shares of ServiceTitan by 189.1% in the 4th quarter. Farther Finance Advisors LLC now owns 266 shares of the company’s stock valued at $28,000 after acquiring an additional 174 shares during the period. eCIO Inc. bought a new stake in ServiceTitan during the 4th quarter worth approximately $30,000. Elevation Wealth Partners LLC bought a new stake in ServiceTitan during the 4th quarter worth approximately $36,000. Finally, Northwestern Mutual Wealth Management Co. increased its stake in ServiceTitan by 1,005.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 431 shares of the company’s stock worth $46,000 after purchasing an additional 392 shares in the last quarter.

ServiceTitan Trading Down 2.2%

NASDAQ TTAN opened at $66.77 on Friday. The firm’s fifty day moving average price is $64.04 and its two-hundred day moving average price is $77.49. ServiceTitan Inc. has a 1 year low of $54.17 and a 1 year high of $119.99. The firm has a market capitalization of $6.37 billion, a P/E ratio of -46.05 and a beta of 0.13.

ServiceTitan (NASDAQ:TTAN) last posted its quarterly earnings results on Thursday, June 4th. The company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $268.82 million for the quarter, compared to analyst estimates of $257.40 million. During the same period in the prior year, the firm posted $0.18 earnings per share. The company’s quarterly revenue was up 24.6% compared to the same quarter last year. On average, research analysts anticipate that ServiceTitan Inc. will post -0.54 EPS for the current fiscal year.

Insider Activity

In other ServiceTitan news, CFO David Sherry sold 17,778 shares of the firm’s stock in a transaction on Wednesday, March 18th. The stock was sold at an average price of $69.86, for a total transaction of $1,241,971.08. Following the completion of the sale, the chief financial officer owned 313,025 shares of the company’s stock, valued at $21,867,926.50. This trade represents a 5.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Ara Mahdessian sold 2,288 shares of ServiceTitan stock in a transaction on Wednesday, March 18th. The stock was sold at an average price of $69.86, for a total transaction of $159,839.68. Following the transaction, the chief executive officer directly owned 1 shares of the company’s stock, valued at approximately $69.86. This trade represents a 99.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 43,440 shares of company stock valued at $2,972,868. 39.89% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on TTAN. TD Cowen increased their target price on ServiceTitan from $110.00 to $125.00 and gave the stock a “buy” rating in a research note on Friday, June 5th. Needham & Company LLC reissued a “buy” rating and set a $100.00 target price on shares of ServiceTitan in a research note on Friday, June 5th. Wells Fargo & Company lowered their target price on ServiceTitan from $125.00 to $115.00 and set an “overweight” rating for the company in a research note on Friday, March 13th. Morgan Stanley increased their target price on ServiceTitan from $118.00 to $124.00 and gave the stock an “overweight” rating in a research note on Friday, June 5th. Finally, William Blair reaffirmed an “outperform” rating on shares of ServiceTitan in a research note on Friday, March 13th. Fifteen equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, ServiceTitan presently has a consensus rating of “Moderate Buy” and a consensus price target of $110.53.

ServiceTitan 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.