Michele O’connor Sells 5,304 Shares of ServiceTitan (NASDAQ:TTAN) Stock

ServiceTitan Inc. (NASDAQ:TTAN) CAO Michele O’connor sold 5,304 shares of the company’s stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $66.19, for a total transaction of $351,071.76. Following the transaction, the chief accounting officer owned 76,586 shares in the company, valued at approximately $5,069,227.34. This trade represents a 6.48% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Michele O’connor also recently made the following trade(s):

• On Tuesday, June 9th, Michele O’connor sold 10,000 shares of ServiceTitan stock. The shares were sold at an average price of $69.14, for a total transaction of $691,400.00.
• On Thursday, April 9th, Michele O’connor sold 5,000 shares of ServiceTitan stock. The stock was sold at an average price of $58.93, for a total transaction of $294,650.00.

ServiceTitan Trading Up 2.9%

Shares of TTAN stock opened at $64.23 on Friday. ServiceTitan Inc. has a 1 year low of $54.17 and a 1 year high of $119.99. The firm’s 50 day moving average is $64.25 and its 200-day moving average is $76.74. The firm has a market capitalization of $6.13 billion, a price-to-earnings ratio of -44.30 and a beta of 0.13.

ServiceTitan (NASDAQ:TTAN) last issued its quarterly earnings results on Thursday, June 4th. The company reported $0.37 earnings per share for the quarter, beating 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 analyst estimates of $257.40 million. During the same quarter last year, the business posted $0.18 earnings per share. ServiceTitan’s revenue for the quarter was up 24.6% compared to the same quarter last year. On average, equities research analysts forecast that ServiceTitan Inc. will post -0.54 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on TTAN shares. TD Cowen upped 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. Truist Financial reiterated a “buy” rating and issued a $110.00 price objective (up from $100.00) on shares of ServiceTitan in a research report on Friday, June 5th. Wells Fargo & Company dropped their price objective on ServiceTitan from $125.00 to $115.00 and set an “overweight” rating for the company in a report on Friday, March 13th. Needham & Company LLC reaffirmed a “buy” rating and issued a $100.00 target price on shares of ServiceTitan in a research note on Wednesday. Finally, Canaccord Genuity Group lowered their price target on shares of ServiceTitan from $140.00 to $105.00 and set a “buy” rating for the company in a research report on Friday, March 13th. Fifteen 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. Based on data from MarketBeat.com, ServiceTitan presently has an average rating of “Moderate Buy” and a consensus price target of $110.53.

Institutional Investors Weigh In On ServiceTitan

A number of institutional investors have recently made changes to their positions in the stock. Woodline Partners LP lifted its stake in ServiceTitan by 4.6% in the first quarter. Woodline Partners LP now owns 2,141 shares of the company’s stock valued at $204,000 after buying an additional 95 shares during the period. PNC Financial Services Group Inc. grew its position in shares of ServiceTitan by 16.1% during the 3rd quarter. PNC Financial Services Group Inc. now owns 858 shares of the company’s stock worth $87,000 after buying an additional 119 shares during the period. Toth Financial Advisory Corp grew its position in shares of ServiceTitan by 150.0% during the 4th quarter. Toth Financial Advisory Corp now owns 250 shares of the company’s stock worth $27,000 after buying an additional 150 shares during the period. Farther Finance Advisors LLC grew its position in shares of ServiceTitan by 189.1% during the 4th quarter. Farther Finance Advisors LLC now owns 266 shares of the company’s stock worth $28,000 after buying an additional 174 shares during the period. Finally, EverSource Wealth Advisors LLC increased its stake in shares of ServiceTitan by 30.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 906 shares of the company’s stock valued at $96,000 after acquiring an additional 209 shares during the last quarter.

About ServiceTitan

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.