William J.G. Griffith Sells 94,415 Shares of ServiceTitan (NASDAQ:TTAN) Stock

ServiceTitan Inc. (NASDAQ:TTAN) Director William J.G. Griffith sold 94,415 shares of the stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $63.43, for a total transaction of $5,988,743.45. Following the completion of the sale, the director owned 443,221 shares in the company, valued at $28,113,508.03. This represents a 17.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

William J.G. Griffith also recently made the following trade(s):

• On Monday, June 22nd, William J.G. Griffith sold 200 shares of ServiceTitan stock. The stock was sold at an average price of $63.01, for a total transaction of $12,602.00.

ServiceTitan Stock Up 1.3%

Shares of ServiceTitan stock traded up $0.84 during trading on Wednesday, hitting $65.03. 983,724 shares of the company were exchanged, compared to its average volume of 1,395,674. ServiceTitan Inc. has a fifty-two week low of $54.17 and a fifty-two week high of $119.99. The firm has a 50 day moving average price of $64.54 and a 200 day moving average price of $76.17. The stock has a market capitalization of $6.20 billion, a price-to-earnings ratio of -44.85 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. ServiceTitan had a negative return on equity of 5.59% and a negative net margin of 13.44%.The firm had revenue of $268.82 million for the quarter, compared to analysts’ expectations of $257.40 million. During the same quarter in the prior year, the firm earned $0.18 EPS. ServiceTitan’s quarterly revenue was up 24.6% on a year-over-year basis. Analysts predict that ServiceTitan Inc. will post -0.54 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in shares of ServiceTitan by 9.9% during the fourth quarter. Vanguard Group Inc. now owns 4,869,009 shares of the company’s stock valued at $518,549,000 after buying an additional 439,079 shares during the last quarter. Franklin Resources Inc. increased its position in ServiceTitan by 33.8% in the 4th quarter. Franklin Resources Inc. now owns 2,014,025 shares of the company’s stock valued at $214,494,000 after acquiring an additional 508,848 shares during the period. Artisan Partners Limited Partnership increased its position in ServiceTitan by 47.3% in the 4th quarter. Artisan Partners Limited Partnership now owns 1,617,353 shares of the company’s stock valued at $172,248,000 after acquiring an additional 519,024 shares during the period. Greenoaks Capital Partners LLC raised its stake in ServiceTitan by 20.6% during the 4th quarter. Greenoaks Capital Partners LLC now owns 1,552,257 shares of the company’s stock valued at $165,315,000 after acquiring an additional 264,926 shares in the last quarter. Finally, Capital International Investors raised its stake in ServiceTitan by 23.9% during the 4th quarter. Capital International Investors now owns 1,224,699 shares of the company’s stock valued at $130,430,000 after acquiring an additional 236,287 shares in the last quarter.

Analyst Ratings Changes

A number of analysts recently commented on TTAN shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of ServiceTitan in a research report on Friday, April 24th. Robert W. Baird raised their price objective on ServiceTitan from $75.00 to $94.00 and gave the stock an “outperform” rating in a report on Monday, June 8th. BTIG Research raised their target price on shares of ServiceTitan from $90.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, June 5th. Citigroup reissued a “neutral” rating on shares of ServiceTitan in a research report on Monday, June 8th. Finally, Piper Sandler boosted their price objective on shares of ServiceTitan from $100.00 to $115.00 and gave the stock an “overweight” rating in a research note on Friday, June 5th. Fifteen analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $110.53.

About ServiceTitan

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.