ServiceTitan Inc. (NASDAQ:TTAN) CEO Sells $4,729,986.16 in Stock

ServiceTitan Inc. (NASDAQ:TTAN - Get Free Report) CEO Ara Mahdessian sold 42,674 shares of the firm's stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $110.84, for a total transaction of $4,729,986.16. Following the transaction, the chief executive officer directly owned 1 shares of the company's stock, valued at $110.84. This represents a 100.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through 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 shares were sold at an average price of $112.51, for a total transaction of $4,800,351.66.
• On Thursday, June 26th, Ara Mahdessian sold 24,391 shares of ServiceTitan stock. The shares were sold at an average price of $104.65, for a total transaction of $2,552,518.15.

ServiceTitan Stock Performance

NASDAQ TTAN traded up $0.93 on Monday, reaching $115.02. The stock had a trading volume of 120,686 shares, compared to its average volume of 729,537. The business has a 50 day moving average price of $112.32 and a 200 day moving average price of $105.07. ServiceTitan Inc. has a 1 year low of $79.81 and a 1 year high of $131.33. The company has a debt-to-equity ratio of 0.07, a quick ratio of 4.82 and a current ratio of 4.82.

ServiceTitan (NASDAQ:TTAN - Get Free Report) last posted its earnings results on Thursday, June 5th. The company reported $0.18 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.12 by $0.06. The firm had revenue of $215.69 million during the quarter, compared to analyst estimates of $208.61 million. The company's revenue was up 26.6% on a year-over-year basis. On average, equities analysts expect that ServiceTitan Inc. will post -1.98 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Morgan Stanley upped their price objective on shares of ServiceTitan from $107.00 to $109.00 and gave the stock an "equal weight" rating in a report on Friday, June 6th. KeyCorp set a $140.00 price objective on shares of ServiceTitan and gave the stock an "overweight" rating in a report on Wednesday. Stifel Nicolaus upped their price objective on shares of ServiceTitan from $110.00 to $125.00 and gave the stock a "buy" rating in a report on Friday, May 30th. Needham & Company LLC restated a "buy" rating and issued a $140.00 price objective on shares of ServiceTitan in a report on Friday, June 6th. Finally, TD Cowen initiated coverage on ServiceTitan in a research report on Tuesday, April 8th. They issued a "buy" rating and a $120.00 target price for the company. Four equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, ServiceTitan presently has a consensus rating of "Moderate Buy" and a consensus price target of $122.21.

Hedge Funds Weigh In On ServiceTitan

Several institutional investors have recently added to or reduced their stakes in the company. Avantax Advisory Services Inc. acquired a new stake in shares of ServiceTitan during the 4th quarter worth approximately $227,000. Virtu Financial LLC bought a new position in ServiceTitan in the fourth quarter valued at approximately $473,000. Sei Investments Co. bought a new position in ServiceTitan in the fourth quarter valued at approximately $1,593,000. Vanguard Group Inc. bought a new stake in shares of ServiceTitan in the fourth quarter worth $57,349,000. Finally, Artisan Partners Limited Partnership bought a new stake in shares of ServiceTitan in the fourth quarter worth $26,439,000.

ServiceTitan Company Profile

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.