Insider Selling: ServiceTitan (NASDAQ:TTAN) CEO Sells $3,441,095.94 in Stock

ServiceTitan Inc. (NASDAQ:TTAN) CEO Ara Mahdessian sold 41,073 shares of the business’s stock in a transaction that occurred on Thursday, November 5th. The stock was sold at an average price of $83.78, for a total value of $3,441,095.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Wednesday, November 4th, Ara Mahdessian sold 63,927 shares of ServiceTitan stock. The stock was sold at an average price of $87.38, for a total value of $5,585,941.26.
• On Thursday, September 17th, Ara Mahdessian sold 3,148 shares of ServiceTitan stock. The shares were sold at an average price of $57.07, for a total transaction of $179,656.36.

ServiceTitan Price Performance

Shares of NASDAQ TTAN opened at $81.77 on Friday. The stock has a market capitalization of $7.89 billion, a P/E ratio of -60.12 and a beta of 0.09. ServiceTitan Inc. has a one year low of $53.00 and a one year high of $111.36. The firm’s 50 day simple moving average is $73.82 and its two-hundred day simple moving average is $72.43.

ServiceTitan (NASDAQ:TTAN) last announced its quarterly earnings data 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. ServiceTitan had a negative net margin of 12.12% and a negative return on equity of 5.65%. The firm had revenue of $292.76 million during the quarter, compared to analyst estimates of $285.89 million. During the same period in the previous year, the business posted $0.33 EPS. The business’s quarterly revenue was up 20.9% on a year-over-year basis. As a group, equities analysts expect that ServiceTitan Inc. will post -0.55 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Canton Hathaway LLC purchased a new stake in shares of ServiceTitan in the third quarter worth $25,000. Heritage Family Offices LLP purchased a new position in shares of ServiceTitan in the 3rd quarter worth about $33,000. Farther Finance Advisors LLC raised its position in shares of ServiceTitan by 98.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 526 shares of the company’s stock worth $35,000 after purchasing an additional 261 shares during the last quarter. Covestor Ltd bought a new position in ServiceTitan in the 3rd quarter worth about $37,000. Finally, State of Wyoming bought a new position in ServiceTitan in the 1st quarter worth about $48,000.

Analyst Ratings Changes

A number of brokerages recently commented on TTAN. Needham & Company LLC reiterated a “buy” rating on shares of ServiceTitan in a research report on Wednesday, October 7th. Stifel Nicolaus cut their price target on shares of ServiceTitan from $125.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, September 9th. UBS Group set a $100.00 price objective on ServiceTitan in a research note on Wednesday, September 9th. Citigroup reduced their price objective on ServiceTitan from $83.00 to $76.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 9th. Finally, Wells Fargo & Company decreased their price objective on ServiceTitan from $115.00 to $105.00 and set an “overweight” rating on the stock in a report on Wednesday, September 9th. Fourteen analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $96.38.

ServiceTitan Company Profile

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

The company’s software supports core operations such as customer relationship management, marketing, scheduling, dispatching, estimates, invoicing, payments, inventory management, purchasing, payroll, and business reporting.