Insider Selling: ServiceTitan (NASDAQ:TTAN) CFO Sells 20,192 Shares of Stock

ServiceTitan Inc. (NASDAQ:TTAN) CFO David Sherry sold 20,192 shares of ServiceTitan stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $66.19, for a total value of $1,336,508.48. Following the transaction, the chief financial officer directly owned 398,033 shares in the company, valued at approximately $26,345,804.27. The trade was a 4.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

ServiceTitan Trading Down 6.2%

NASDAQ:TTAN traded down $4.12 during mid-day trading on Wednesday, reaching $62.45. 1,682,041 shares of the stock were exchanged, compared to its average volume of 1,630,462. The business has a fifty day moving average price of $64.22 and a 200 day moving average price of $76.92. The firm has a market capitalization of $5.96 billion, a PE ratio of -43.07 and a beta of 0.13. ServiceTitan Inc. has a 1-year low of $54.17 and a 1-year high of $119.99.

ServiceTitan (NASDAQ:TTAN) last released its earnings results on Thursday, June 4th. The company reported $0.37 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $257.40 million. During the same period in the previous year, the company earned $0.18 earnings per share. ServiceTitan’s revenue was up 24.6% compared to the same quarter last year. On average, sell-side analysts forecast that ServiceTitan Inc. will post -0.54 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on TTAN. BMO Capital Markets lifted their price target on ServiceTitan from $92.00 to $103.00 and gave the company an “outperform” rating in a report on Friday, June 5th. Citigroup reaffirmed a “neutral” rating on shares of ServiceTitan in a research report on Monday, June 8th. BTIG Research boosted their price objective on ServiceTitan from $90.00 to $110.00 and gave the company a “buy” rating in a research report on Friday, June 5th. Piper Sandler upped their price target on ServiceTitan from $100.00 to $115.00 and gave the company an “overweight” rating in a research report on Friday, June 5th. Finally, Robert W. Baird boosted their price objective on ServiceTitan from $75.00 to $94.00 and gave the stock an “outperform” rating in a research note on Monday, June 8th. Fifteen investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $110.53.

Institutional Investors Weigh In On ServiceTitan

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TTAN. Toth Financial Advisory Corp increased its holdings in ServiceTitan by 150.0% in the fourth quarter. Toth Financial Advisory Corp now owns 250 shares of the company’s stock valued at $27,000 after purchasing an additional 150 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in ServiceTitan by 189.1% in the fourth quarter. Farther Finance Advisors LLC now owns 266 shares of the company’s stock valued at $28,000 after purchasing an additional 174 shares during the last quarter. eCIO Inc. bought a new stake in ServiceTitan in the fourth quarter valued at about $30,000. Elevation Wealth Partners LLC bought a new stake in ServiceTitan in the fourth quarter valued at about $36,000. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in ServiceTitan by 1,005.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 431 shares of the company’s stock valued at $46,000 after purchasing an additional 392 shares during the last quarter.

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.