ServiceTitan (NASDAQ:TTAN) President Sells $212,337.52 in Stock

ServiceTitan Inc. (NASDAQ:TTAN) President Vahe Kuzoyan sold 3,208 shares of the company’s stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $66.19, for a total value of $212,337.52. Following the sale, the president directly owned 1 shares of the company’s stock, valued at $66.19. The trade was a 99.97% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

ServiceTitan Price Performance

Shares of NASDAQ TTAN traded down $4.12 during trading hours on Wednesday, hitting $62.45. 1,682,041 shares of the stock were exchanged, compared to its average volume of 1,630,462. The company’s 50 day moving average is $64.22 and its 200 day moving average is $76.92. The firm has a market capitalization of $5.96 billion, a P/E ratio of -43.07 and a beta of 0.13. ServiceTitan Inc. has a one year low of $54.17 and a one year high of $119.99.

ServiceTitan (NASDAQ:TTAN) last released its quarterly earnings results on Thursday, June 4th. The company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.09. ServiceTitan had a negative net margin of 13.44% and a negative return on equity of 5.59%. The company had revenue of $268.82 million during the quarter, compared to analysts’ expectations of $257.40 million. During the same period in the prior year, the company earned $0.18 earnings per share. The business’s quarterly revenue was up 24.6% compared to the same quarter last year. Research analysts anticipate that ServiceTitan Inc. will post -0.54 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on TTAN shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of ServiceTitan in a research report on Friday, April 24th. Robert W. Baird upped their price objective on shares of ServiceTitan from $75.00 to $94.00 and gave the company an “outperform” rating in a research report on Monday, June 8th. Wells Fargo & Company cut their price objective on shares of ServiceTitan from $125.00 to $115.00 and set an “overweight” rating for the company in a research report on Friday, March 13th. Canaccord Genuity Group cut their price objective on shares of ServiceTitan from $140.00 to $105.00 and set a “buy” rating for the company in a research report on Friday, March 13th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 price objective on shares of ServiceTitan in a research report on Wednesday. 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. According to data from MarketBeat, ServiceTitan currently has a consensus rating of “Moderate Buy” and an average target price of $110.53.

Institutional Trading of ServiceTitan

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of ServiceTitan by 538.4% during the 3rd 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 during the last quarter. JPMorgan Chase & Co. boosted its holdings 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 worth $291,798,000 after buying an additional 1,569,136 shares during the period. Norges Bank bought a new stake in shares of ServiceTitan during the 4th quarter worth about $112,678,000. CIBC Bancorp USA Inc. bought a new stake in shares of ServiceTitan during the 3rd quarter worth about $84,983,000. Finally, Fuller & Thaler Asset Management Inc. bought a new stake in shares of ServiceTitan during the 4th quarter worth about $89,702,000.

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.