Perigon Wealth Management LLC Sells 12,291 Shares of ServiceTitan Inc. $TTAN

Perigon Wealth Management LLC lowered its holdings in shares of ServiceTitan Inc. (NASDAQ:TTAN) by 46.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,248 shares of the company’s stock after selling 12,291 shares during the quarter. Perigon Wealth Management LLC’s holdings in ServiceTitan were worth $1,437,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. AMI Asset Management Corp purchased a new stake in ServiceTitan during the 3rd quarter valued at approximately $396,000. Vontobel Holding Ltd. bought a new position in shares of ServiceTitan during the third quarter worth $420,000. Voya Investment Management LLC purchased a new position in ServiceTitan during the third quarter valued at $22,157,000. Hamilton Lane Advisors LLC bought a new stake in ServiceTitan in the 3rd quarter valued at $272,000. Finally, Northside Capital Management LLC lifted its stake in ServiceTitan by 137.6% in the 3rd quarter. Northside Capital Management LLC now owns 6,293 shares of the company’s stock worth $635,000 after purchasing an additional 3,644 shares in the last quarter.

Insider Activity

In related news, CEO Ara Mahdessian sold 3,038 shares of ServiceTitan stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $105.30, for a total transaction of $319,901.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Vahe Kuzoyan sold 3,038 shares of the company’s stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $105.30, for a total transaction of $319,901.40. Following the transaction, the president owned 1 shares in the company, valued at $105.30. The trade was a 99.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 397,165 shares of company stock worth $39,626,361 over the last 90 days. Insiders own 51.72% of the company’s stock.

ServiceTitan Price Performance

Shares of ServiceTitan stock opened at $107.18 on Wednesday. The stock has a market cap of $10.04 billion and a price-to-earnings ratio of -26.27. The company has a debt-to-equity ratio of 0.07, a quick ratio of 4.14 and a current ratio of 4.14. The stock has a 50 day moving average price of $97.45 and a 200-day moving average price of $103.83. ServiceTitan Inc. has a one year low of $79.81 and a one year high of $131.33.

ServiceTitan (NASDAQ:TTAN) last issued its quarterly earnings results on Thursday, December 4th. The company reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $0.09. The company had revenue of $249.16 million during the quarter, compared to the consensus estimate of $238.26 million. ServiceTitan had a negative return on equity of 10.96% and a negative net margin of 23.91%.ServiceTitan’s revenue was up 25.0% on a year-over-year basis. During the same period last year, the company earned $0.75 earnings per share. Equities analysts expect that ServiceTitan Inc. will post -1.98 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Morgan Stanley raised their price objective on ServiceTitan from $118.00 to $125.00 and gave the company an “equal weight” rating in a research report on Friday, December 5th. Stifel Nicolaus lifted their price objective on ServiceTitan from $135.00 to $145.00 and gave the stock a “buy” rating in a research note on Friday, September 19th. Weiss Ratings reiterated a “sell (e+)” rating on shares of ServiceTitan in a research report on Monday. Canaccord Genuity Group raised their target price on shares of ServiceTitan from $130.00 to $140.00 and gave the company a “buy” rating in a report on Friday, September 19th. Finally, KeyCorp reaffirmed an “overweight” rating on shares of ServiceTitan in a research note on Tuesday, December 16th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $134.25.

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.