Ara Mahdessian Sells 42,674 Shares of ServiceTitan Inc. (NASDAQ:TTAN) Stock

ServiceTitan Inc. (NASDAQ:TTAN - Get Free Report) CEO Ara Mahdessian sold 42,674 shares of ServiceTitan stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $110.84, for a total value of $4,729,986.16. Following the completion of the sale, the chief executive officer directly owned 1 shares in the company, valued at $110.84. This represents a 100.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Thursday, July 17th, Ara Mahdessian sold 42,666 shares of ServiceTitan stock. The stock was sold at an average price of $112.51, for a total value of $4,800,351.66.
• On Thursday, June 26th, Ara Mahdessian sold 24,391 shares of ServiceTitan stock. The stock was sold at an average price of $104.65, for a total transaction of $2,552,518.15.

ServiceTitan Stock Up 1.3%

Shares of TTAN traded up $1.43 during mid-day trading on Thursday, reaching $112.57. 968,295 shares of the company were exchanged, compared to its average volume of 1,265,485. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.82 and a quick ratio of 4.82. ServiceTitan Inc. has a 52 week low of $79.81 and a 52 week high of $131.33. The business has a 50 day simple moving average of $112.53 and a two-hundred day simple moving average of $105.01.

ServiceTitan (NASDAQ:TTAN - Get Free Report) last announced its earnings results on Thursday, June 5th. The company reported $0.18 earnings per share for the quarter, topping analysts' consensus estimates of $0.12 by $0.06. The firm had revenue of $215.69 million for the quarter, compared to the consensus estimate of $208.61 million. ServiceTitan's revenue was up 26.6% compared to the same quarter last year. As a group, research analysts forecast that ServiceTitan Inc. will post -1.98 earnings per share for the current fiscal year.

Analyst Ratings Changes

TTAN has been the subject of a number of recent research reports. Loop Capital reissued a "hold" rating and issued a $100.00 target price (up previously from $90.00) on shares of ServiceTitan in a research report on Friday, June 6th. Stifel Nicolaus raised their price objective on ServiceTitan from $110.00 to $125.00 and gave the stock a "buy" rating in a research note on Friday, May 30th. Morgan Stanley increased their price objective on shares of ServiceTitan from $107.00 to $109.00 and gave the stock an "equal weight" rating in a research note on Friday, June 6th. Robert W. Baird upped their price target on shares of ServiceTitan from $106.00 to $124.00 and gave the stock an "outperform" rating in a report on Wednesday, June 4th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $140.00 price target on shares of ServiceTitan in a research report on Friday, June 6th. Four investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $122.21.

Institutional Investors Weigh In On ServiceTitan

Several hedge funds and other institutional investors have recently modified their holdings of the company. Harbor Investment Advisory LLC bought a new position in shares of ServiceTitan in the 1st quarter worth $31,000. LRI Investments LLC acquired a new position in shares of ServiceTitan during the first quarter valued at about $58,000. FIL Ltd bought a new stake in shares of ServiceTitan during the fourth quarter worth about $67,000. Tower Research Capital LLC TRC acquired a new position in ServiceTitan during the 4th quarter valued at about $91,000. Finally, Assetmark Inc. increased its holdings in ServiceTitan by 47.2% during the 1st quarter. Assetmark Inc. now owns 960 shares of the company's stock worth $91,000 after purchasing an additional 308 shares in the last quarter.

About ServiceTitan

ServiceTitan, Inc engages in the collection of field service activities required to install, maintain, and service the infrastructure and systems of residences and commercial buildings. The company was founded by Ara Mahdessian and Vahe Kuzoyan on June 8, 2008 and is headquartered in Glendale, CA.

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