ServiceTitan Inc. (NASDAQ:TTAN) Stake Boosted by Avantax Advisory Services Inc.

Key Points

• Avantax Advisory Services Inc. has significantly increased its holdings in ServiceTitan Inc. by 383.6%, acquiring an additional 8,481 shares in the first quarter, bringing its total to 10,692 shares valued at approximately $1,017,000.
• ServiceTitan's Director, William J.G. Griffith, sold 90,917 shares for nearly $10 million, leading to a 15.82% decrease in his ownership stake, while CEO Ara Mahdessian sold 42,674 shares and now owns just one share.
• The company's stock has seen a strong price performance, currently trading around $113.79, with analysts projecting a consensus target price of $124.00 and a consensus rating of "Moderate Buy".

Avantax Advisory Services Inc. raised its stake in shares of ServiceTitan Inc. (NASDAQ:TTAN - Free Report) by 383.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,692 shares of the company's stock after acquiring an additional 8,481 shares during the period. Avantax Advisory Services Inc.'s holdings in ServiceTitan were worth $1,017,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Harbor Investment Advisory LLC acquired a new stake in ServiceTitan during the 1st quarter worth about $31,000. LRI Investments LLC bought a new position in shares of ServiceTitan during the 1st quarter worth approximately $58,000. FIL Ltd acquired a new position in ServiceTitan in the 4th quarter valued at $67,000. Tower Research Capital LLC TRC acquired a new position in ServiceTitan in the 4th quarter worth about $91,000. Finally, Insight Holdings Group LLC acquired a new position in ServiceTitan in the 4th quarter worth about $103,000.

ServiceTitan Stock Performance

Shares of TTAN stock traded up $1.11 during trading on Wednesday, hitting $112.88. 228,184 shares of the stock traded hands, compared to its average volume of 719,871. The company has a quick ratio of 4.82, a current ratio of 4.82 and a debt-to-equity ratio of 0.07. The firm's fifty day moving average price is $110.25 and its 200-day moving average price is $106.35. ServiceTitan Inc. has a 52-week low of $79.81 and a 52-week high of $131.33.

ServiceTitan (NASDAQ:TTAN - Get Free Report) last released its quarterly earnings data on Thursday, June 5th. The company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.06. The company had revenue of $215.69 million during the quarter, compared to analyst estimates of $208.61 million. The business's revenue was up 26.6% compared to the same quarter last year. Analysts anticipate that ServiceTitan Inc. will post -1.98 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms recently commented on TTAN. Loop Capital restated a "hold" rating and set a $100.00 target price (up from $90.00) on shares of ServiceTitan in a research report on Friday, June 6th. Robert W. Baird raised their price target on ServiceTitan from $106.00 to $124.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 4th. Cowen reaffirmed a "buy" rating on shares of ServiceTitan in a report on Wednesday, May 21st. Needham & Company LLC restated a "buy" rating and set a $140.00 target price on shares of ServiceTitan in a report on Friday, June 6th. Finally, Morgan Stanley increased their price target on ServiceTitan from $107.00 to $109.00 and gave the stock an "equal weight" rating in a research report on Friday, June 6th. Four analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $124.00.

Insiders Place Their Bets

In other ServiceTitan news, CEO Ara Mahdessian sold 42,666 shares of the firm's stock in a transaction dated Thursday, July 17th. The stock was sold at an average price of $112.51, for a total value of $4,800,351.66. Following the completion of the transaction, the chief executive officer owned 1 shares in the company, valued at $112.51. This trade represents a 100.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Byron B. Deeter sold 31,187 shares of ServiceTitan stock in a transaction that occurred on Thursday, July 17th. The stock was sold at an average price of $112.60, for a total value of $3,511,656.20. The disclosure for this sale can be found here. Insiders have sold 1,412,338 shares of company stock worth $150,374,391 in the last quarter. 51.72% of the stock is owned by corporate insiders.

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.