ServiceTitan (NASDAQ:TTAN) Shares Gap Down on Insider Selling

ServiceTitan Inc. (NASDAQ:TTAN) gapped down before the market opened on Thursday following insider selling activity. The stock had previously closed at $78.01, but opened at $74.95. ServiceTitan shares last traded at $78.5490, with a volume of 146,976 shares trading hands.

Specifically, CAO Michele O’connor sold 4,910 shares of the company’s stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $80.93, for a total transaction of $397,366.30. Following the transaction, the chief accounting officer owned 71,676 shares in the company, valued at approximately $5,800,738.68. This represents a 6.41% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Ara Mahdessian sold 51,947 shares of ServiceTitan stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $80.98, for a total transaction of $4,206,668.06. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on TTAN shares. BMO Capital Markets boosted their price objective on shares of ServiceTitan from $92.00 to $103.00 and gave the company an “outperform” rating in a report on Friday, June 5th. Robert W. Baird lifted their target price on shares of ServiceTitan from $75.00 to $94.00 and gave the stock an “outperform” rating in a research report on Monday, June 8th. Canaccord Genuity Group decreased their target price on shares of ServiceTitan from $140.00 to $105.00 and set a “buy” rating for the company in a research note on Friday, March 13th. Citigroup reissued a “neutral” rating on shares of ServiceTitan in a report on Monday, June 8th. Finally, The Goldman Sachs Group dropped their price target on ServiceTitan from $117.00 to $84.00 and set a “neutral” rating on the stock in a research note on Monday, March 16th. Fifteen equities 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 stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $110.53.

ServiceTitan Stock Up 0.7%

The business’s fifty day moving average is $66.98 and its 200-day moving average is $73.69. The company has a market cap of $7.50 billion, a PE ratio of -54.03 and a beta of 0.13.

ServiceTitan (NASDAQ:TTAN) last announced its earnings results on Thursday, June 4th. The company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.09. The business had revenue of $268.82 million during the quarter, compared to analysts’ expectations of $257.40 million. ServiceTitan had a negative net margin of 13.44% and a negative return on equity of 5.59%. The firm’s revenue was up 24.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.18 earnings per share. Analysts forecast that ServiceTitan Inc. will post -0.54 EPS for the current fiscal year.

Hedge Funds Weigh In On ServiceTitan

A number of institutional investors have recently bought and sold shares of TTAN. Toth Financial Advisory Corp lifted its position in ServiceTitan by 150.0% during the fourth quarter. Toth Financial Advisory Corp now owns 250 shares of the company’s stock valued at $27,000 after purchasing an additional 150 shares in the last quarter. Farther Finance Advisors LLC increased its position in ServiceTitan by 189.1% in the fourth quarter. Farther Finance Advisors LLC now owns 266 shares of the company’s stock worth $28,000 after buying an additional 174 shares in the last quarter. eCIO Inc. purchased a new stake in ServiceTitan in the fourth quarter worth about $30,000. Elevation Wealth Partners LLC bought a new position in shares of ServiceTitan in the fourth quarter worth about $36,000. Finally, Northwestern Mutual Wealth Management Co. raised its stake in shares of ServiceTitan by 1,005.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 431 shares of the company’s stock worth $46,000 after buying an additional 392 shares during the period.

ServiceTitan Company 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.