ServiceTitan (NASDAQ:TTAN) Stock: Insider David Sherry Sells 1,138 Shares

ServiceTitan Inc. (NASDAQ:TTAN) CFO David Sherry sold 1,138 shares of the business’s stock in a transaction dated Thursday, October 15th. The shares were sold at an average price of $75.22, for a total value of $85,600.36. Following the completion of the transaction, the chief financial officer owned 362,373 shares in the company, valued at $27,257,697.06. The trade was a 0.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Thursday, September 17th, David Sherry sold 23,246 shares of ServiceTitan stock. The stock was sold at an average price of $57.07, for a total value of $1,326,649.22.
• On Friday, August 14th, David Sherry sold 9,000 shares of ServiceTitan stock. The stock was sold at an average price of $90.83, for a total value of $817,470.00.

ServiceTitan Trading Up 4.4%

TTAN traded up $3.28 on Monday, hitting $78.26. 1,325,870 shares of the company’s stock traded hands, compared to its average volume of 1,753,841. The company’s 50 day simple moving average is $76.61 and its 200-day simple moving average is $71.50. The firm has a market cap of $7.55 billion, a price-to-earnings ratio of -57.54 and a beta of 0.33. ServiceTitan Inc. has a one year low of $53.00 and a one year high of $111.36.

ServiceTitan (NASDAQ:TTAN) last posted its quarterly earnings results on Tuesday, September 8th. The company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.05. ServiceTitan had a negative return on equity of 5.65% and a negative net margin of 12.12%. The company had revenue of $292.76 million for the quarter, compared to analysts’ expectations of $285.89 million. During the same period in the previous year, the firm earned $0.33 EPS. The firm’s revenue was up 20.9% compared to the same quarter last year. As a group, equities analysts anticipate that ServiceTitan Inc. will post -0.52 EPS for the current fiscal year.

Institutional Investors Weigh In On ServiceTitan

A number of hedge funds have recently made changes to their positions in the company. Madison Asset Management LLC boosted its stake in ServiceTitan by 41.1% during the first quarter. Madison Asset Management LLC now owns 900,112 shares of the company’s stock valued at $57,121,000 after buying an additional 262,037 shares during the last quarter. Janus Henderson Group PLC grew its holdings in ServiceTitan by 1.5% during the 1st quarter. Janus Henderson Group PLC now owns 783,560 shares of the company’s stock valued at $49,724,000 after buying an additional 11,362 shares in the last quarter. Royal Bank of Canada increased its stake in ServiceTitan by 36.1% in the 1st quarter. Royal Bank of Canada now owns 433,122 shares of the company’s stock worth $27,485,000 after acquiring an additional 114,859 shares during the last quarter. Jennison Associates LLC increased its stake in ServiceTitan by 235.3% in the 1st quarter. Jennison Associates LLC now owns 380,468 shares of the company’s stock worth $24,145,000 after acquiring an additional 267,002 shares during the last quarter. Finally, Wellington Management Group LLP increased its stake in ServiceTitan by 258.7% in the 2nd quarter. Wellington Management Group LLP now owns 316,695 shares of the company’s stock worth $22,394,000 after acquiring an additional 228,417 shares during the last quarter.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on TTAN shares. Canaccord Genuity Group reduced their price objective on shares of ServiceTitan from $105.00 to $90.00 and set a “buy” rating on the stock in a research report on Wednesday, September 9th. Truist Financial restated a “buy” rating and set a $100.00 target price (down from $110.00) on shares of ServiceTitan in a research report on Wednesday, September 9th. UBS Group set a $100.00 target price on shares of ServiceTitan in a research report on Wednesday, September 9th. Weiss Ratings raised shares of ServiceTitan from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, September 29th. Finally, Evercore set a $90.00 price target on shares of ServiceTitan in a report on Wednesday, September 9th. Fourteen equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $96.38.

About ServiceTitan

ServiceTitan, Inc is a cloud-based software company that provides business management solutions for residential and commercial contractors. Its platform is designed for companies in the trades, including heating, ventilation and air conditioning (HVAC), plumbing, electrical, roofing, landscaping and related services.

ServiceTitan’s products support a range of operational and customer-facing functions, including scheduling and dispatching, customer relationship management, estimates, invoicing, payments, marketing, reporting and field-service management.