Ara Mahdessian Sells 38,287 Shares of ServiceTitan (NASDAQ:TTAN) Stock

ServiceTitan Inc. (NASDAQ:TTAN) CEO Ara Mahdessian sold 38,287 shares of the business’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $84.89, for a total transaction of $3,250,183.43. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Ara Mahdessian also recently made the following trade(s):

• On Monday, August 3rd, Ara Mahdessian sold 49,766 shares of ServiceTitan stock. The stock was sold at an average price of $84.75, for a total transaction of $4,217,668.50.
• On Tuesday, July 7th, Ara Mahdessian sold 51,947 shares of ServiceTitan stock. The stock was sold at an average price of $80.98, for a total transaction of $4,206,668.06.
• On Wednesday, June 17th, Ara Mahdessian sold 3,028 shares of ServiceTitan stock. The shares were sold at an average price of $66.19, for a total transaction of $200,423.32.

ServiceTitan Trading Up 0.3%

Shares of ServiceTitan stock traded up $0.26 on Wednesday, reaching $86.50. 821,845 shares of the stock were exchanged, compared to its average volume of 1,462,982. ServiceTitan Inc. has a 1-year low of $54.17 and a 1-year high of $119.99. The business has a fifty day moving average price of $73.31 and a two-hundred day moving average price of $69.97. The firm has a market capitalization of $8.25 billion, a PE ratio of -59.65 and a beta of 0.02.

ServiceTitan (NASDAQ:TTAN) last announced its quarterly earnings data on Thursday, June 4th. The company reported $0.37 EPS 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 firm had revenue of $268.82 million during the quarter, compared to the consensus estimate of $257.40 million. During the same quarter last year, the firm earned $0.18 earnings per share. The firm’s revenue was up 24.6% compared to the same quarter last year. Research analysts expect that ServiceTitan Inc. will post -0.54 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have recently commented on TTAN shares. Robert W. Baird raised their price target on ServiceTitan from $75.00 to $94.00 and gave the company an “outperform” rating in a report on Monday, June 8th. Citigroup reiterated a “neutral” rating on shares of ServiceTitan in a research report on Monday, June 8th. Weiss Ratings reissued a “sell (e+)” rating on shares of ServiceTitan in a report on Tuesday, July 21st. Needham & Company LLC restated a “buy” rating and set a $100.00 target price on shares of ServiceTitan in a research report on Wednesday, June 17th. Finally, TD Cowen upped their price target on shares of ServiceTitan from $110.00 to $125.00 and gave the stock a “buy” rating in a research note on Friday, June 5th. Fifteen 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 an average rating of “Moderate Buy” and an average price target of $110.53.

Institutional Investors Weigh In On ServiceTitan

Hedge funds and other institutional investors have recently modified their holdings of the stock. Farther Finance Advisors LLC boosted its stake 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 acquiring an additional 174 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in shares of ServiceTitan by 1,005.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 431 shares of the company’s stock worth $46,000 after acquiring an additional 392 shares during the period. State of Wyoming purchased a new position in ServiceTitan in the 1st quarter valued at approximately $48,000. Sunbelt Securities Inc. increased its stake in ServiceTitan by 391.0% in the 4th quarter. Sunbelt Securities Inc. now owns 491 shares of the company’s stock valued at $52,000 after purchasing an additional 391 shares in the last quarter. Finally, Parallel Advisors LLC raised its holdings in ServiceTitan by 161.7% during the third quarter. Parallel Advisors LLC now owns 526 shares of the company’s stock worth $53,000 after purchasing an additional 325 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.