Insider Selling: ServiceTitan (NASDAQ:TTAN) CEO Sells $179,656.36 in Stock

ServiceTitan Inc. (NASDAQ:TTAN) CEO Ara Mahdessian sold 3,148 shares of the company’s stock in a transaction that occurred on Thursday, September 17th. The stock was sold at an average price of $57.07, for a total value of $179,656.36. Following the sale, the chief executive officer directly owned 2 shares in the company, valued at $114.14. This trade represents a 99.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Ara Mahdessian also recently made the following trade(s):

• On Tuesday, August 4th, Ara Mahdessian sold 38,287 shares of ServiceTitan stock. The shares were sold at an average price of $84.89, for a total transaction of $3,250,183.43.
• On Monday, August 3rd, Ara Mahdessian sold 49,766 shares of ServiceTitan stock. The shares were sold at an average price of $84.75, for a total transaction of $4,217,668.50.
• On Tuesday, July 7th, Ara Mahdessian sold 51,947 shares of ServiceTitan stock. The shares were sold at an average price of $80.98, for a total transaction of $4,206,668.06.

ServiceTitan Stock Up 0.1%

TTAN stock opened at $61.65 on Thursday. ServiceTitan Inc. has a 52 week low of $53.00 and a 52 week high of $111.36. The firm has a market capitalization of $5.95 billion, a P/E ratio of -45.33 and a beta of 0.11. The company has a fifty day simple moving average of $80.08 and a two-hundred day simple moving average of $71.67.

ServiceTitan (NASDAQ:TTAN) last posted its earnings results on Tuesday, September 8th. The company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.05. The firm had revenue of $292.76 million for the quarter, compared to the consensus estimate of $285.89 million. ServiceTitan had a negative net margin of 12.12% and a negative return on equity of 5.65%. The business’s quarterly revenue was up 20.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.33 EPS. As a group, analysts anticipate that ServiceTitan Inc. will post -0.53 EPS for the current year.

Key Stories Impacting ServiceTitan

Here are the key news stories impacting ServiceTitan this week:

• Positive Sentiment: ServiceTitan is partnering to expand further into roofing software, supporting management’s strategy of entering additional contractor trades and broadening its addressable market. ServiceTitan partners to push deeper into roofing software
• Positive Sentiment: Analysts still collectively rate TTAN “Moderate Buy,” with a consensus price target substantially above the current trading level. The company’s latest reported quarter also exceeded consensus estimates for both adjusted EPS and revenue, with revenue up 20.9% year over year.
• Neutral Sentiment: ServiceTitan insiders—including CEO Ara Mahdessian, President Vahe Kuzoyan, CFO David Sherry and CAO Michele O’Connor—reported stock sales. Most earlier transactions were identified as sales to cover tax withholding on vested equity awards, limiting their significance as a discretionary bearish signal. O’Connor’s latest sale totaled approximately $269,000, leaving her with 61,715 shares. ServiceTitan insider sale SEC filing
• Negative Sentiment: The primary pressure on ServiceTitan (TTAN) is fallout from its September 9 quarterly disclosure. Investors reacted sharply to unexpected revenue-recognition timing differences and slower year-over-year revenue growth, raising questions about the company’s reported growth trajectory and contributing to the stock’s steep decline. ServiceTitan revenue timing and growth concerns
• Negative Sentiment: Bleichmar Fonti & Auld and Pomerantz announced investigations into potential securities-law violations involving ServiceTitan, including disclosures related to growth, artificial-intelligence initiatives and the Max platform. The investigations do not establish wrongdoing, but they add legal, reputational and headline risk. ServiceTitan securities-fraud investigation

Institutional Investors Weigh In On ServiceTitan

Institutional investors and hedge funds have recently modified their holdings of the business. Elevation Wealth Partners LLC lifted its holdings in ServiceTitan by 20.0% during the 2nd quarter. Elevation Wealth Partners LLC now owns 863 shares of the company’s stock valued at $61,000 after buying an additional 144 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in ServiceTitan by 30.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 906 shares of the company’s stock worth $96,000 after acquiring an additional 209 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its stake in ServiceTitan by 18.9% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 2,973 shares of the company’s stock worth $317,000 after acquiring an additional 472 shares in the last quarter. State of Wyoming bought a new position in ServiceTitan in the 1st quarter worth about $48,000. Finally, First Bank & Trust increased its position in shares of ServiceTitan by 24.2% during the second quarter. First Bank & Trust now owns 4,426 shares of the company’s stock worth $313,000 after acquiring an additional 862 shares during the period.

Wall Street Analysts Forecast Growth

TTAN has been the topic of a number of recent research reports. Canaccord Genuity Group decreased their price objective on ServiceTitan from $105.00 to $90.00 and set a “buy” rating on the stock in a research report on Wednesday, September 9th. Evercore set a $90.00 target price on ServiceTitan in a report on Wednesday, September 9th. Citigroup cut their target price on ServiceTitan from $83.00 to $76.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 9th. Morgan Stanley lowered their price target on ServiceTitan from $124.00 to $92.00 and set an “overweight” rating for the company in a research report on Wednesday, September 9th. Finally, Wells Fargo & Company dropped their price objective on shares of ServiceTitan from $115.00 to $105.00 and set an “overweight” rating for the company in a research note on Wednesday, September 9th. Fourteen equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, ServiceTitan presently has a consensus rating of “Moderate Buy” and an average target price of $96.38.

About ServiceTitan

ServiceTitan, Inc develops cloud-based software designed to help residential and commercial contractors manage and grow their businesses. Its platform supports trades such as heating, ventilation and air conditioning, plumbing, electrical, roofing, and other field-service industries.

The company’s products and services cover key business functions, including customer relationship management, lead generation, scheduling and dispatching, estimates, job management, invoicing, payments, financing, payroll, and business analytics.