ServiceTitan Sees Unusually High Options Volume (NASDAQ:TTAN)

ServiceTitan Inc. (NASDAQ:TTAN) was the target of some unusual options trading activity on Tuesday. Traders bought 15,381 call options on the stock. This is an increase of 1,089% compared to the average daily volume of 1,294 call options.

Insider Buying and Selling at ServiceTitan

In other news, CEO Ara Mahdessian sold 88,525 shares of the stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $107.56, for a total transaction of $9,521,749.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO David Sherry sold 11,672 shares of the firm’s stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $105.30, for a total value of $1,229,061.60. Following the completion of the sale, the chief financial officer directly owned 331,781 shares in the company, valued at approximately $34,936,539.30. This trade represents a 3.40% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 216,371 shares of company stock valued at $22,700,994. Corporate insiders own 51.72% of the company’s stock.

Hedge Funds Weigh In On ServiceTitan

Several large investors have recently bought and sold shares of TTAN. Vanguard Group Inc. grew its position in ServiceTitan by 9.9% in the fourth quarter. Vanguard Group Inc. now owns 4,869,009 shares of the company’s stock worth $518,549,000 after buying an additional 439,079 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of ServiceTitan by 118.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,893,959 shares of the company’s stock valued at $291,798,000 after acquiring an additional 1,569,136 shares during the last quarter. Franklin Resources Inc. boosted its stake in shares of ServiceTitan by 33.8% during the 4th quarter. Franklin Resources Inc. now owns 2,014,025 shares of the company’s stock worth $214,494,000 after acquiring an additional 508,848 shares in the last quarter. Artisan Partners Limited Partnership boosted its stake in shares of ServiceTitan by 47.3% during the 4th quarter. Artisan Partners Limited Partnership now owns 1,617,353 shares of the company’s stock worth $172,248,000 after acquiring an additional 519,024 shares in the last quarter. Finally, Greenoaks Capital Partners LLC grew its holdings in shares of ServiceTitan by 20.6% in the 4th quarter. Greenoaks Capital Partners LLC now owns 1,552,257 shares of the company’s stock worth $165,315,000 after acquiring an additional 264,926 shares during the last quarter.

ServiceTitan Stock Performance

Shares of TTAN traded down $2.30 during trading hours on Tuesday, reaching $78.37. 568,406 shares of the company’s stock traded hands, compared to its average volume of 1,506,212. The firm has a market capitalization of $7.34 billion, a price-to-earnings ratio of -19.21 and a beta of -0.71. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.14 and a quick ratio of 4.14. ServiceTitan has a twelve month low of $58.01 and a twelve month high of $131.33. The business’s fifty day simple moving average is $81.80 and its two-hundred day simple moving average is $94.23.

Wall Street Analyst Weigh In

Several research firms have recently commented on TTAN. The Goldman Sachs Group started coverage on shares of ServiceTitan in a research report on Tuesday, January 13th. They set a “neutral” rating and a $117.00 price target for the company. KeyCorp reiterated an “overweight” rating on shares of ServiceTitan in a research report on Tuesday, December 16th. Piper Sandler decreased their target price on shares of ServiceTitan from $140.00 to $120.00 and set an “overweight” rating for the company in a research report on Monday, February 2nd. Morgan Stanley raised their price target on shares of ServiceTitan from $118.00 to $125.00 and gave the company an “equal weight” rating in a research note on Friday, December 5th. Finally, BTIG Research initiated coverage on ServiceTitan in a report on Tuesday, December 16th. They set a “buy” rating and a $130.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $132.06.

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.