ServiceTitan (NASDAQ:TTAN) CFO Sells $1,336,508.48 in Stock

ServiceTitan Inc. (NASDAQ:TTAN) CFO David Sherry sold 20,192 shares of the company’s stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $66.19, for a total transaction of $1,336,508.48. Following the transaction, the chief financial officer owned 398,033 shares in the company, valued at approximately $26,345,804.27. The trade was a 4.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

ServiceTitan Price Performance

Shares of NASDAQ TTAN opened at $64.23 on Friday. The company has a 50-day moving average price of $64.29 and a 200-day moving average price of $76.65. The stock has a market capitalization of $6.13 billion, a P/E ratio of -44.30 and a beta of 0.13. ServiceTitan Inc. has a 1 year low of $54.17 and a 1 year high of $119.99.

ServiceTitan (NASDAQ:TTAN) last posted its earnings results on Thursday, June 4th. The company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.09. The company had revenue of $268.82 million for the quarter, compared to analyst estimates of $257.40 million. ServiceTitan had a negative net margin of 13.44% and a negative return on equity of 5.59%. The firm’s revenue was up 24.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.18 EPS. As a group, equities research analysts anticipate that ServiceTitan Inc. will post -0.54 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on TTAN shares. Piper Sandler lifted their target price on ServiceTitan from $100.00 to $115.00 and gave the company an “overweight” rating in a research report on Friday, June 5th. The Goldman Sachs Group lowered their price target on ServiceTitan from $117.00 to $84.00 and set a “neutral” rating for the company in a research report on Monday, March 16th. Morgan Stanley raised their price objective on ServiceTitan from $118.00 to $124.00 and gave the company an “overweight” rating in a research note on Friday, June 5th. TD Cowen lifted their price objective on shares of ServiceTitan from $110.00 to $125.00 and gave the stock a “buy” rating in a report on Friday, June 5th. Finally, Truist Financial reiterated a “buy” rating and issued a $110.00 target price (up from $100.00) on shares of ServiceTitan in a research note on Friday, June 5th. Fifteen equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $110.53.

Institutional Trading of ServiceTitan

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