Insider Selling: ServiceTitan (NASDAQ:TTAN) CAO Sells 4,910 Shares

ServiceTitan Inc. (NASDAQ:TTAN) CAO Michele O’connor sold 4,910 shares of the company’s stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $80.93, for a total transaction of $397,366.30. Following the transaction, the chief accounting officer owned 71,676 shares in the company, valued at $5,800,738.68. The trade was a 6.41% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

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

• On Wednesday, June 17th, Michele O’connor sold 5,304 shares of ServiceTitan stock. The stock was sold at an average price of $66.19, for a total transaction of $351,071.76.
• On Tuesday, June 9th, Michele O’connor sold 10,000 shares of ServiceTitan stock. The shares were 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 shares were sold at an average price of $58.93, for a total value of $294,650.00.

ServiceTitan Stock Performance

TTAN stock traded down $1.69 during midday trading on Wednesday, reaching $78.01. The stock had a trading volume of 1,203,420 shares, compared to its average volume of 1,479,449. The firm has a fifty day simple moving average of $66.63 and a two-hundred day simple moving average of $73.90. ServiceTitan Inc. has a 52-week low of $54.17 and a 52-week high of $119.99. The stock has a market cap of $7.44 billion, a PE ratio of -53.80 and a beta of 0.13.

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

Wall Street Analyst Weigh In

TTAN has been the topic of several research reports. Wells Fargo & Company cut their price target on shares of ServiceTitan from $125.00 to $115.00 and set an “overweight” rating on the stock in a report on Friday, March 13th. Truist Financial restated a “buy” rating and set a $110.00 price objective (up from $100.00) on shares of ServiceTitan in a research note on Friday, June 5th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of ServiceTitan in a report on Friday, April 24th. Robert W. Baird increased their price objective on shares of ServiceTitan from $75.00 to $94.00 and gave the stock an “outperform” rating in a research note on Monday, June 8th. Finally, Canaccord Genuity Group decreased their target price 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. Fifteen analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, ServiceTitan has a consensus rating of “Moderate Buy” and an average target price of $110.53.

Institutional Investors Weigh In On ServiceTitan

Several hedge funds have recently bought and sold shares of TTAN. Elevation Wealth Partners LLC grew its stake in shares of ServiceTitan by 20.0% during the 2nd quarter. Elevation Wealth Partners LLC now owns 863 shares of the company’s stock worth $61,000 after purchasing an additional 144 shares during the period. Janus Henderson Group PLC boosted its holdings in ServiceTitan by 1.5% during the first quarter. Janus Henderson Group PLC now owns 783,560 shares of the company’s stock worth $49,724,000 after buying an additional 11,362 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in ServiceTitan by 75.1% during the first quarter. EverSource Wealth Advisors LLC now owns 1,586 shares of the company’s stock valued at $101,000 after buying an additional 680 shares during the period. California State Teachers Retirement System increased its holdings in ServiceTitan by 196.7% in the first quarter. California State Teachers Retirement System now owns 63,324 shares of the company’s stock valued at $4,019,000 after buying an additional 41,983 shares in the last quarter. Finally, Royal Bank of Canada raised its position in shares of ServiceTitan by 36.1% in the first quarter. Royal Bank of Canada now owns 433,122 shares of the company’s stock worth $27,485,000 after acquiring an additional 114,859 shares during the period.

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.