ServiceTitan (NASDAQ:TTAN) CAO Sells 5,581 Shares

ServiceTitan Inc. (NASDAQ:TTAN) CAO Michele O’connor sold 5,581 shares of the business’s stock in a transaction on Thursday, September 17th. The stock was sold at an average price of $57.07, for a total transaction of $318,507.67. Following the transaction, the chief accounting officer owned 66,095 shares in the company, valued at approximately $3,772,041.65. The trade was a 7.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Michele O’connor also recently made the following trade(s):

• On Tuesday, July 7th, Michele O’connor sold 4,910 shares of ServiceTitan stock. The stock was sold at an average price of $80.93, for a total transaction of $397,366.30.

ServiceTitan Price Performance

TTAN stock traded up $1.49 during trading hours on Monday, reaching $56.53. The stock had a trading volume of 5,388,843 shares, compared to its average volume of 3,702,489. The stock has a 50-day simple moving average of $80.79 and a 200 day simple moving average of $71.90. ServiceTitan Inc. has a fifty-two week low of $53.00 and a fifty-two week high of $115.92. The stock has a market capitalization of $5.45 billion, a PE ratio of -41.57 and a beta of 0.11.

ServiceTitan (NASDAQ:TTAN) last released its quarterly earnings data on Tuesday, September 8th. The company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.05. The company had revenue of $292.76 million for 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 for the quarter was up 20.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.33 EPS. On average, sell-side analysts forecast that ServiceTitan Inc. will post -0.53 EPS for the current fiscal year.

Hedge Funds Weigh In On ServiceTitan

A number of hedge funds have recently added to or reduced their stakes in TTAN. Norges Bank acquired a new position in ServiceTitan in the 4th quarter valued at $112,678,000. Madison Asset Management LLC bought a new position in shares of ServiceTitan in the second quarter worth $56,118,000. Artisan Partners Limited Partnership increased its position in shares of ServiceTitan by 47.3% in the fourth quarter. Artisan Partners Limited Partnership now owns 1,617,353 shares of the company’s stock worth $172,248,000 after purchasing an additional 519,024 shares during the period. Franklin Resources Inc. raised its stake in ServiceTitan by 33.8% in the fourth quarter. Franklin Resources Inc. now owns 2,014,025 shares of the company’s stock valued at $214,494,000 after purchasing an additional 508,848 shares in the last quarter. Finally, Natixis Advisors LLC acquired a new position in ServiceTitan in the fourth quarter valued at about $39,174,000.

Analysts Set New Price Targets

TTAN has been the topic of several research analyst reports. Needham & Company LLC restated a “buy” rating and issued a $100.00 price objective on shares of ServiceTitan in a research note on Wednesday, September 9th. Truist Financial reissued a “buy” rating and set a $100.00 target price (down from $110.00) on shares of ServiceTitan in a report on Wednesday, September 9th. Citigroup dropped their price target on ServiceTitan from $83.00 to $76.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 9th. Wells Fargo & Company decreased their price objective on shares of ServiceTitan from $115.00 to $105.00 and set an “overweight” rating on the stock in a report on Wednesday, September 9th. Finally, TD Cowen dropped their price objective on shares of ServiceTitan from $125.00 to $100.00 and set a “buy” rating on the stock in a research report 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 given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $96.38.

About ServiceTitan

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

The company’s products and services cover key business functions, including customer relationship management, lead generation, scheduling and dispatching, estimates, job management, invoicing, payments, financing, payroll, and business analytics.