ServiceTitan (NASDAQ:TTAN) CEO Ara Mahdessian Sells 63,927 Shares of Company Stock

ServiceTitan Inc. (NASDAQ:TTAN) CEO Ara Mahdessian sold 63,927 shares of the firm’s stock in a transaction on Wednesday, November 4th. The shares were sold at an average price of $87.38, for a total value of $5,585,941.26. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Thursday, November 5th, Ara Mahdessian sold 41,073 shares of ServiceTitan stock. The stock was sold at an average price of $83.78, for a total transaction of $3,441,095.94.
• On Thursday, September 17th, Ara Mahdessian sold 3,148 shares of ServiceTitan stock. The shares were sold at an average price of $57.07, for a total transaction of $179,656.36.

ServiceTitan Price Performance

NASDAQ:TTAN opened at $82.21 on Friday. The company has a market cap of $7.93 billion, a P/E ratio of -60.45 and a beta of 0.09. The firm’s fifty day moving average price is $74.19 and its two-hundred day moving average price is $72.47. ServiceTitan Inc. has a one year low of $53.00 and a one year high of $111.36.

ServiceTitan (NASDAQ:TTAN) last posted its earnings results on Tuesday, September 8th. The company reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.05. The company had revenue of $292.76 million during the quarter, compared to analysts’ expectations of $285.89 million. ServiceTitan had a negative net margin of 12.12% and a negative return on equity of 5.65%. ServiceTitan’s quarterly revenue was up 20.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.33 EPS. As a group, equities research analysts expect that ServiceTitan Inc. will post -0.55 earnings per share for the current year.

Institutional Trading of ServiceTitan

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Canton Hathaway LLC bought a new stake in ServiceTitan during the third quarter worth $25,000. Heritage Family Offices LLP acquired a new stake in shares of ServiceTitan in the 3rd quarter valued at $33,000. Farther Finance Advisors LLC boosted its holdings in shares of ServiceTitan by 98.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 526 shares of the company’s stock valued at $35,000 after purchasing an additional 261 shares in the last quarter. Covestor Ltd bought a new position in shares of ServiceTitan in the 3rd quarter valued at $37,000. Finally, State of Wyoming bought a new position in shares of ServiceTitan in the 1st quarter valued at $48,000.

Wall Street Analyst Weigh In

TTAN has been the subject of a number of research analyst reports. BTIG Research restated a “buy” rating and set a $110.00 price objective on shares of ServiceTitan in a report on Friday, October 2nd. Canaccord Genuity Group lowered their target price on ServiceTitan from $105.00 to $90.00 and set a “buy” rating on the stock in a research note on Wednesday, September 9th. TD Cowen reiterated a “buy” rating and set a $100.00 target price on shares of ServiceTitan in a research note on Wednesday, October 7th. Truist Financial reissued a “buy” rating and set a $100.00 price target (down from $110.00) on shares of ServiceTitan in a report on Wednesday, September 9th. Finally, Wells Fargo & Company reduced their price target on ServiceTitan from $115.00 to $105.00 and set an “overweight” rating for the company in a research note on Wednesday, September 9th. Fourteen equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $96.38.

About ServiceTitan

ServiceTitan, Inc provides cloud-based software designed to help residential and commercial trade contractors manage and grow their businesses. Its platform serves industries including heating, ventilation and air conditioning, plumbing, electrical, roofing, and other field-service trades.

The company’s software supports core operations such as customer relationship management, marketing, scheduling, dispatching, estimates, invoicing, payments, inventory management, purchasing, payroll, and business reporting.