Battery Management CORP. Reduces Stock Position in ServiceTitan Inc. $TTAN

Key Points

• Battery Management CORP. cut its ServiceTitan position by 21.6% in the second quarter, selling 712,847 shares. It still held 2.59 million shares worth approximately $182.9 million, representing 57.3% of the fund’s portfolio.
• ServiceTitan exceeded quarterly expectations, reporting adjusted EPS of $0.40 and revenue of $292.76 million, up 20.9% year over year. However, third-quarter revenue guidance came in slightly below consensus, while the company continues to post negative margins and faces a chief revenue officer transition.
• Analysts remain broadly positive, with a “Moderate Buy” consensus rating and an average price target of $108.93. Shares traded at $81.58, while insiders sold roughly $39.2 million of stock over the past 90 days.

Battery Management CORP. trimmed its position in shares of ServiceTitan Inc. (NASDAQ:TTAN - Free Report) by 21.6% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 2,587,094 shares of the company's stock after selling 712,847 shares during the quarter. ServiceTitan comprises about 57.3% of Battery Management CORP.'s holdings, making the stock its biggest holding. Battery Management CORP. owned 2.71% of ServiceTitan worth $182,933,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of TTAN. California State Teachers Retirement System raised its holdings in ServiceTitan by 7,065.5% in the second quarter. California State Teachers Retirement System now owns 4,537,461 shares of the company's stock worth $320,844,000 after buying an additional 4,474,137 shares during the last quarter. Norges Bank purchased a new stake in shares of ServiceTitan during the fourth quarter valued at approximately $112,678,000. Fuller & Thaler Asset Management Inc. bought a new stake in shares of ServiceTitan during the fourth quarter valued at approximately $89,702,000. Madison Asset Management LLC purchased a new position in ServiceTitan in the 2nd quarter worth approximately $56,118,000. Finally, Atreides Management LP bought a new position in ServiceTitan in the 2nd quarter valued at approximately $68,679,000.

ServiceTitan News Summary

Here are the key news stories impacting ServiceTitan this week:

• Positive Sentiment: ServiceTitan earned $0.40 per share, above the $0.35-$0.36 consensus range and up from $0.33 a year earlier. Revenue reached $292.76 million, surpassing estimates near $285.9 million and increasing 20.9% year over year. ServiceTitan Inc. Q2 Earnings and Revenues Surpass Estimates
• Positive Sentiment: The quarterly earnings beat and continued double-digit revenue growth indicate resilient demand for ServiceTitan’s software platform serving the trades industry. ServiceTitan Announces Fiscal Second Quarter Financial Results
• Neutral Sentiment: Management maintained full-year fiscal 2027 revenue guidance of approximately $1.1 billion, broadly in line with analyst expectations, although the company did not provide a usable EPS figure in the available guidance update.
• Negative Sentiment: Third-quarter fiscal 2027 revenue guidance of $285 million to $287 million fell modestly short of the roughly $287.8 million consensus estimate, suggesting near-term growth may be slower than analysts anticipated.
• Negative Sentiment: The appointment of veteran executive Rikus Pretorius as chief revenue officer, replacing Ross Biestman after the remainder of the fiscal year, introduced leadership-transition risk. Reports indicated that the management shakeup overshadowed the earnings beat and guidance. ServiceTitan Names Rikus Pretorius Next Chief Revenue Officer
• Negative Sentiment: Despite the adjusted earnings beat, ServiceTitan continued to report a negative net margin of 13.44% and negative return on equity of 5.59%, reinforcing concerns about profitability.

Analyst Ratings Changes

A number of research firms have commented on TTAN. BTIG Research reissued a "buy" rating and issued a $110.00 target price on shares of ServiceTitan in a report on Friday, July 10th. Citigroup reissued a "neutral" rating on shares of ServiceTitan in a research report on Monday, June 8th. Needham & Company LLC reaffirmed a "buy" rating and set a $100.00 price target on shares of ServiceTitan in a report on Wednesday, June 17th. Robert W. Baird boosted their price objective on shares of ServiceTitan from $94.00 to $101.00 and gave the company an "outperform" rating in a report on Wednesday, August 12th. Finally, BMO Capital Markets raised their target price on shares of ServiceTitan from $92.00 to $103.00 and gave the stock an "outperform" rating in a report on Friday, June 5th. Fourteen analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $108.93.

ServiceTitan Stock Performance

Shares of NASDAQ TTAN traded down $6.34 during midday trading on Tuesday, hitting $81.58. 4,806,233 shares of the company's stock traded hands, compared to its average volume of 1,436,456. The firm has a fifty day moving average of $84.45 and a 200 day moving average of $72.57. ServiceTitan Inc. has a 1 year low of $54.17 and a 1 year high of $119.99. The stock has a market capitalization of $7.78 billion, a price-to-earnings ratio of -56.26 and a beta of 0.11.

ServiceTitan (NASDAQ:TTAN - Get Free Report) last announced its earnings results on Tuesday, September 8th. The company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.05. ServiceTitan had a negative net margin of 13.44% and a negative return on equity of 5.59%. The company had revenue of $292.76 million during the quarter, compared to analyst estimates of $285.90 million. During the same period in the previous year, the business posted $0.33 earnings per share. The firm's quarterly revenue was up 20.9% compared to the same quarter last year. On average, equities analysts anticipate that ServiceTitan Inc. will post -0.54 earnings per share for the current year.

Insider Buying and Selling at ServiceTitan

In other news, CEO Ara Mahdessian sold 51,947 shares of the company's stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $80.98, for a total value of $4,206,668.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director William Griffith sold 94,415 shares of the company's stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $63.43, for a total value of $5,988,743.45. Following the completion of the sale, the director owned 443,221 shares of the company's stock, valued at $28,113,508.03. This trade represents a 17.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 514,837 shares of company stock worth $39,203,222. Insiders own 39.89% of the company's stock.

ServiceTitan 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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