Insider Selling: ServiceTitan (NASDAQ:TTAN) CEO Sells $5,585,941.26 in Stock

ServiceTitan Inc. (NASDAQ:TTAN – Get Free Report) CEO Ara Mahdessian sold 63,927 shares of the 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 legal filing with the SEC, which is available at 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 Thursday, November 5th, Ara Mahdessian sold 41,073 shares of ServiceTitan stock. The shares were sold at an average price of $83.78, for a total value 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 value of $179,656.36.

ServiceTitan Stock Down 6.3%

Shares of TTAN traded down $5.55 during mid-day trading on Thursday, hitting $82.21. 1,576,316 shares of the company traded hands, compared to its average volume of 1,516,832. ServiceTitan Inc. has a 1-year low of $53.00 and a 1-year high of $111.36. The company has a market capitalization of $7.93 billion, a PE ratio of -60.45 and a beta of 0.09. The business has a 50 day moving average of $74.19 and a 200 day moving average of $72.47.

ServiceTitan (NASDAQ:TTAN – Get Free Report) last announced its quarterly earnings data on Tuesday, September 8th. The company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.35 by $0.05. The firm had revenue of $292.76 million during the quarter, compared to analyst estimates of $285.89 million. ServiceTitan had a negative net margin of 12.12% and a negative return on equity of 5.65%. ServiceTitan’s revenue was up 20.9% on a year-over-year basis. During the same period last year, the firm posted $0.33 EPS. As a group, research analysts expect that ServiceTitan Inc. will post -0.55 EPS for the current fiscal year.

Hedge Funds Weigh In On ServiceTitan

A number of hedge funds have recently bought and sold shares of TTAN. Madison Asset Management LLC grew its stake in ServiceTitan by 41.1% in the 1st quarter. Madison Asset Management LLC now owns 900,112 shares of the company’s stock valued at $57,121,000 after acquiring an additional 262,037 shares during the period. Janus Henderson Group PLC raised its position in ServiceTitan by 1.5% during the first quarter. Janus Henderson Group PLC now owns 783,560 shares of the company’s stock worth $49,724,000 after acquiring an additional 11,362 shares during the period. Royal Bank of Canada lifted its holdings in ServiceTitan by 36.1% during the first quarter. Royal Bank of Canada now owns 433,122 shares of the company’s stock valued at $27,485,000 after purchasing an additional 114,859 shares in the last quarter. Jennison Associates LLC lifted its holdings in ServiceTitan by 235.3% during the first quarter. Jennison Associates LLC now owns 380,468 shares of the company’s stock valued at $24,145,000 after purchasing an additional 267,002 shares in the last quarter. Finally, Wellington Management Group LLP grew its position in shares of ServiceTitan by 258.7% in the second quarter. Wellington Management Group LLP now owns 316,695 shares of the company’s stock valued at $22,394,000 after purchasing an additional 228,417 shares during the period.

Analysts Set New Price Targets

TTAN has been the subject of a number of research analyst reports. UBS Group set a $100.00 price target on shares of ServiceTitan in a report on Wednesday, September 9th. Truist Financial reissued a “buy” rating and set a $100.00 price objective (down from $110.00) on shares of ServiceTitan in a report on Wednesday, September 9th. Citigroup cut their target price on ServiceTitan from $83.00 to $76.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 9th. Piper Sandler reduced their target price on ServiceTitan from $115.00 to $110.00 and set an “overweight” rating for the company in a research note on Wednesday, September 9th. Finally, Morgan Stanley reduced their price target on shares of ServiceTitan from $124.00 to $92.00 and set an “overweight” rating for the company in a research report on Wednesday, September 9th. Fourteen investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, ServiceTitan has a consensus rating of “Moderate Buy” and a consensus price target of $96.38.

Check Out Our Latest Stock Analysis on ServiceTitan

ServiceTitan Company Profile

(Get Free Report)

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.

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