ServiceTitan (NASDAQ:TTAN) CFO Sells $1,326,649.22 in Stock

ServiceTitan Inc. (NASDAQ:TTAN) CFO David Sherry sold 23,246 shares of the business’s stock in a transaction that occurred on Thursday, September 17th. The stock was sold at an average price of $57.07, for a total value of $1,326,649.22. Following the sale, the chief financial officer owned 363,511 shares of the company’s stock, valued at approximately $20,745,572.77. The trade was a 6.01% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

David Sherry also recently made the following trade(s):

• On Friday, August 14th, David Sherry sold 9,000 shares of ServiceTitan stock. The shares were sold at an average price of $90.83, for a total transaction of $817,470.00.

ServiceTitan Stock Performance

TTAN stock traded up $1.49 during midday trading on Monday, reaching $56.53. 5,388,843 shares of the company were exchanged, compared to its average volume of 3,702,489. ServiceTitan Inc. has a 1-year low of $53.00 and a 1-year high of $115.92. The stock’s 50-day simple moving average is $80.79 and its 200 day simple moving average is $71.90. The company has a market cap of $5.45 billion, a price-to-earnings ratio of -41.57 and a beta of 0.11.

ServiceTitan (NASDAQ:TTAN) last issued its earnings results on Tuesday, September 8th. The company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.05. ServiceTitan had a negative net margin of 12.12% and a negative return on equity of 5.65%. The business had revenue of $292.76 million during the quarter, compared to analysts’ expectations of $285.89 million. During the same quarter in the prior year, the business posted $0.33 EPS. The company’s revenue for the quarter was up 20.9% on a year-over-year basis. On average, research analysts anticipate that ServiceTitan Inc. will post -0.53 earnings per share for the current year.

Analyst Ratings Changes

TTAN has been the subject of several research analyst reports. Wells Fargo & Company decreased their price objective on shares of ServiceTitan from $115.00 to $105.00 and set an “overweight” rating for the company in a research note on Wednesday, September 9th. Needham & Company LLC reiterated a “buy” rating and set a $100.00 target price on shares of ServiceTitan in a research report on Wednesday, September 9th. Robert W. Baird reduced their target price on ServiceTitan from $101.00 to $85.00 and set an “outperform” rating for the company in a report on Wednesday, September 9th. UBS Group set a $100.00 target price on ServiceTitan in a research report on Wednesday, September 9th. Finally, Piper Sandler dropped their price target on ServiceTitan from $115.00 to $110.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 9th. Fourteen research 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. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $96.38.

Hedge Funds Weigh In On ServiceTitan

Several institutional investors have recently added to or reduced their stakes in TTAN. Elevation Wealth Partners LLC increased its holdings in shares of ServiceTitan by 20.0% in the second quarter. Elevation Wealth Partners LLC now owns 863 shares of the company’s stock valued at $61,000 after purchasing an additional 144 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in shares of ServiceTitan by 30.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 906 shares of the company’s stock worth $96,000 after purchasing an additional 209 shares during the period. Envestnet Portfolio Solutions Inc. lifted its holdings in shares of ServiceTitan by 18.9% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 2,973 shares of the company’s stock worth $317,000 after purchasing an additional 472 shares during the period. State of Wyoming purchased a new position in ServiceTitan in the 1st quarter valued at $48,000. Finally, First Bank & Trust grew its position in ServiceTitan by 24.2% in the 2nd quarter. First Bank & Trust now owns 4,426 shares of the company’s stock valued at $313,000 after buying an additional 862 shares during the last quarter.

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.