Rakuten Investment Management Inc. Buys Shares of 53,313 ServiceTitan Inc. $TTAN

Rakuten Investment Management Inc. purchased a new position in shares of ServiceTitan Inc. (NASDAQ:TTAN) in the third quarter, Holdings Channel.com reports. The fund purchased 53,313 shares of the company’s stock, valued at approximately $5,376,000.

Several other institutional investors have also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. lifted its holdings in ServiceTitan by 1,005.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 431 shares of the company’s stock valued at $46,000 after acquiring an additional 392 shares during the last quarter. PNC Financial Services Group Inc. purchased a new stake in ServiceTitan in the second quarter valued at $79,000. EverSource Wealth Advisors LLC acquired a new position in shares of ServiceTitan in the 2nd quarter valued at $94,000. Lazard Asset Management LLC acquired a new position in shares of ServiceTitan in the 2nd quarter valued at $99,000. Finally, RiverPark Advisors LLC purchased a new position in shares of ServiceTitan during the 2nd quarter worth $104,000.

Insider Activity at ServiceTitan

In related news, President Vahe Kuzoyan sold 16,388 shares of the business’s stock in a transaction on Monday, December 15th. The shares were sold at an average price of $102.82, for a total value of $1,685,014.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ara Mahdessian sold 88,525 shares of the company’s stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $107.56, for a total transaction of $9,521,749.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 355,202 shares of company stock worth $35,405,269 over the last quarter. 51.72% of the stock is currently owned by insiders.

ServiceTitan Stock Up 2.9%

ServiceTitan stock opened at $90.59 on Friday. The stock has a market cap of $8.48 billion and a PE ratio of -22.20. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.14 and a quick ratio of 4.14. The stock’s fifty day moving average is $98.81 and its two-hundred day moving average is $102.94. ServiceTitan Inc. has a 1-year low of $79.81 and a 1-year high of $131.33.

ServiceTitan (NASDAQ:TTAN) last released its quarterly earnings data on Thursday, December 4th. The company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.09. ServiceTitan had a negative return on equity of 10.96% and a negative net margin of 23.91%.The business had revenue of $249.16 million for the quarter, compared to the consensus estimate of $238.26 million. During the same quarter in the prior year, the business posted $0.75 EPS. The business’s revenue for the quarter was up 25.0% on a year-over-year basis. On average, sell-side analysts expect that ServiceTitan Inc. will post -1.98 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on TTAN shares. Weiss Ratings restated a “sell (e+)” rating on shares of ServiceTitan in a report on Monday, December 29th. Piper Sandler dropped their price target on shares of ServiceTitan from $155.00 to $140.00 and set an “overweight” rating for the company in a research report on Friday, December 5th. Truist Financial set a $130.00 price target on shares of ServiceTitan in a research note on Tuesday, October 21st. BMO Capital Markets upped their price objective on shares of ServiceTitan from $115.00 to $125.00 and gave the stock an “outperform” rating in a report on Friday, December 5th. Finally, The Goldman Sachs Group assumed coverage on shares of ServiceTitan in a research report on Tuesday, January 13th. They set a “neutral” rating and a $117.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, ServiceTitan presently has a consensus rating of “Moderate Buy” and a consensus price target of $135.31.

ServiceTitan Profile

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.