ServiceTitan (NASDAQ:TTAN) CEO Ara Mahdessian Sells 51,947 Shares of Stock

ServiceTitan Inc. (NASDAQ:TTAN) CEO Ara Mahdessian sold 51,947 shares of the firm’s stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $80.98, for a total transaction of $4,206,668.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• 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 Down 2.1%

Shares of NASDAQ:TTAN opened at $78.01 on Thursday. The company has a 50-day moving average price of $66.98 and a 200-day moving average price of $73.69. The company has a market cap of $7.44 billion, a price-to-earnings ratio of -53.80 and a beta of 0.13. ServiceTitan Inc. has a 12 month low of $54.17 and a 12 month high of $119.99.

ServiceTitan (NASDAQ:TTAN) last posted its 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 return on equity of 5.59% and a negative net margin of 13.44%.The company had revenue of $268.82 million for the quarter, compared to analysts’ expectations of $257.40 million. During the same period last year, the firm earned $0.18 earnings per share. ServiceTitan’s quarterly revenue was up 24.6% on a year-over-year basis. As a group, research analysts forecast that ServiceTitan Inc. will post -0.54 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in TTAN. Vanguard Group Inc. lifted its position in ServiceTitan by 9.9% during the fourth quarter. Vanguard Group Inc. now owns 4,869,009 shares of the company’s stock valued at $518,549,000 after buying an additional 439,079 shares during the period. Renaissance Capital LLC increased its stake in shares of ServiceTitan by 222.8% in the 4th quarter. Renaissance Capital LLC now owns 41,223 shares of the company’s stock worth $4,390,000 after acquiring an additional 28,454 shares in the last quarter. CIBC Bancorp USA Inc. bought a new position in shares of ServiceTitan in the 3rd quarter worth about $84,983,000. Zevenbergen Capital Investments LLC purchased a new position in ServiceTitan during the 4th quarter valued at about $4,281,000. Finally, First Trust Advisors LP lifted its position in ServiceTitan by 2,401.9% during the 3rd quarter. First Trust Advisors LP now owns 670,883 shares of the company’s stock valued at $67,645,000 after acquiring an additional 644,068 shares during the period.

Wall Street Analyst Weigh In

TTAN has been the topic of several research analyst reports. William Blair reissued an “outperform” rating on shares of ServiceTitan in a research note on Friday, March 13th. Citigroup reaffirmed a “neutral” rating on shares of ServiceTitan in a research note on Monday, June 8th. Robert W. Baird lifted their price target on shares of ServiceTitan from $75.00 to $94.00 and gave the company an “outperform” rating in a report on Monday, June 8th. Truist Financial restated a “buy” rating and issued a $110.00 price objective (up from $100.00) on shares of ServiceTitan in a report on Friday, June 5th. Finally, The Goldman Sachs Group decreased their price objective on shares of ServiceTitan from $117.00 to $84.00 and set a “neutral” rating for the company in a report on Monday, March 16th. Fifteen analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $110.53.

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.