ServiceTitan (NASDAQ:TTAN) CAO Michele O’connor Sells 5,304 Shares

ServiceTitan Inc. (NASDAQ:TTAN) CAO Michele O’connor sold 5,304 shares of the company’s stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $66.19, for a total transaction of $351,071.76. Following the transaction, the chief accounting officer owned 76,586 shares of the company’s stock, valued at approximately $5,069,227.34. The trade was a 6.48% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Michele O’connor also recently made the following trade(s):

• On Tuesday, June 9th, Michele O’connor sold 10,000 shares of ServiceTitan stock. The stock was sold at an average price of $69.14, for a total transaction of $691,400.00.
• On Thursday, April 9th, Michele O’connor sold 5,000 shares of ServiceTitan stock. The stock was sold at an average price of $58.93, for a total transaction of $294,650.00.

ServiceTitan Stock Performance

NASDAQ:TTAN traded down $4.12 during trading hours on Wednesday, hitting $62.45. The company’s stock had a trading volume of 1,682,041 shares, compared to its average volume of 1,630,462. The business’s 50-day moving average is $64.22 and its two-hundred day moving average is $76.92. The company has a market capitalization of $5.96 billion, a PE ratio of -43.07 and a beta of 0.13. ServiceTitan Inc. has a 52-week low of $54.17 and a 52-week high of $119.99.

ServiceTitan (NASDAQ:TTAN) last posted its quarterly earnings data on Thursday, June 4th. The company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.09. The firm had revenue of $268.82 million during the quarter, compared to analysts’ expectations of $257.40 million. ServiceTitan had a negative return on equity of 5.59% and a negative net margin of 13.44%.The firm’s quarterly revenue was up 24.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.18 EPS. As a group, analysts predict that ServiceTitan Inc. will post -0.54 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in shares of ServiceTitan by 538.4% in the third quarter. Vanguard Group Inc. now owns 4,429,930 shares of the company’s stock worth $446,670,000 after purchasing an additional 3,735,968 shares in the last quarter. Thornburg Investment Management Inc. bought a new position in shares of ServiceTitan in the third quarter worth $8,338,000. Sandhill Capital Partners LLC bought a new position in shares of ServiceTitan in the third quarter worth $27,062,000. Renaissance Capital LLC grew its stake in shares of ServiceTitan by 222.8% in the fourth quarter. Renaissance Capital LLC now owns 41,223 shares of the company’s stock worth $4,390,000 after purchasing an additional 28,454 shares in the last quarter. Finally, CIBC Bancorp USA Inc. bought a new position in shares of ServiceTitan in the third quarter worth $84,983,000.

Analysts Set New Price Targets

A number of research firms have recently issued reports on TTAN. TD Cowen lifted their price objective on shares of ServiceTitan from $110.00 to $125.00 and gave the company a “buy” rating in a research note on Friday, June 5th. Stifel Nicolaus set a $125.00 target price on ServiceTitan in a research report on Wednesday, May 27th. Citigroup reiterated a “neutral” rating on shares of ServiceTitan in a report on Monday, June 8th. Canaccord Genuity Group lowered their price target on ServiceTitan from $140.00 to $105.00 and set a “buy” rating for the company in a report on Friday, March 13th. Finally, The Goldman Sachs Group lowered their price target on ServiceTitan from $117.00 to $84.00 and set a “neutral” rating for the company in a report on Monday, March 16th. Fifteen equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, ServiceTitan currently has a consensus 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.