89,856 Shares in ServiceTitan Inc. $TTAN Bought by Sands Capital Alternatives LLC

Key Points

• Sands Capital Alternatives LLC opened a new position in ServiceTitan, buying 89,856 shares worth about $9.57 million in the fourth quarter. The stake represents roughly 1.8% of its portfolio and about 0.10% of ServiceTitan.
• Several other institutional investors also increased or initiated positions in TTAN, while ServiceTitan insiders have been selling shares. CEO Ara Mahdessian and President Vahe Kuzoyan each sold heavily, and insiders have sold 43,440 shares worth about $2.97 million over the last 90 days.
• ServiceTitan reported stronger-than-expected quarterly results, with EPS of $0.37 versus estimates of $0.28 and revenue of $268.82 million, up 24.6% year over year. Analysts remain generally positive, with a consensus rating of Moderate Buy and an average price target of $110.53.

Sands Capital Alternatives LLC purchased a new position in ServiceTitan Inc. (NASDAQ:TTAN - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 89,856 shares of the company's stock, valued at approximately $9,570,000. ServiceTitan accounts for about 1.8% of Sands Capital Alternatives LLC's portfolio, making the stock its 12th biggest position. Sands Capital Alternatives LLC owned about 0.10% of ServiceTitan as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TTAN. Toth Financial Advisory Corp lifted its stake in ServiceTitan by 150.0% in the fourth quarter. Toth Financial Advisory Corp now owns 250 shares of the company's stock worth $27,000 after acquiring an additional 150 shares during the period. Farther Finance Advisors LLC lifted its stake in ServiceTitan by 189.1% in the fourth quarter. Farther Finance Advisors LLC now owns 266 shares of the company's stock worth $28,000 after acquiring an additional 174 shares during the period. eCIO Inc. purchased a new stake in ServiceTitan in the fourth quarter worth $30,000. Elevation Wealth Partners LLC purchased a new stake in ServiceTitan in the fourth quarter worth $36,000. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in ServiceTitan by 1,005.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 431 shares of the company's stock worth $46,000 after acquiring an additional 392 shares during the period.

Insider Transactions at ServiceTitan

In other ServiceTitan news, CEO Ara Mahdessian sold 2,288 shares of the stock in a transaction on Wednesday, March 18th. The stock was sold at an average price of $69.86, for a total value of $159,839.68. Following the completion of the transaction, the chief executive officer owned 1 shares in the company, valued at approximately $69.86. This represents a 99.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, President Vahe Kuzoyan sold 3,220 shares of the stock in a transaction on Wednesday, March 18th. The stock was sold at an average price of $69.86, for a total value of $224,949.20. Following the completion of the transaction, the president owned 1 shares of the company's stock, valued at approximately $69.86. This trade represents a 99.97% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 43,440 shares of company stock worth $2,972,868 in the last ninety days. 39.89% of the stock is owned by company insiders.

ServiceTitan Stock Performance

TTAN opened at $66.77 on Monday. The stock has a fifty day simple moving average of $64.04 and a two-hundred day simple moving average of $77.40. The company has a market cap of $6.37 billion, a price-to-earnings ratio of -46.05 and a beta of 0.12. ServiceTitan Inc. has a 12-month low of $54.17 and a 12-month high of $119.99.

ServiceTitan (NASDAQ:TTAN - Get Free Report) last posted its quarterly earnings data on Thursday, June 4th. The company reported $0.37 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.28 by $0.09. The business had revenue of $268.82 million during 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 firm's quarterly revenue was up 24.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.18 earnings per share. On average, analysts predict that ServiceTitan Inc. will post -0.54 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Stifel Nicolaus set a $125.00 price target on ServiceTitan in a research note on Wednesday, May 27th. Robert W. Baird raised their price target on ServiceTitan from $75.00 to $94.00 and gave the stock an "outperform" rating in a research note on Monday, June 8th. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of ServiceTitan in a research note on Friday, April 24th. BMO Capital Markets raised their price target on ServiceTitan from $92.00 to $103.00 and gave the stock an "outperform" rating in a research note on Friday, June 5th. Finally, Truist Financial reaffirmed a "buy" rating and issued a $110.00 price target (up from $100.00) on shares of ServiceTitan in a research note on Friday, June 5th. Fifteen research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $110.53.

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.

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