Natixis Advisors LLC Takes $39.17 Million Position in ServiceTitan Inc. $TTAN

Key Points

• Natixis Advisors LLC disclosed a new fourth-quarter position in ServiceTitan, buying 367,828 shares worth about $39.17 million and owning 0.39% of the company.
• Several insiders sold shares recently, including CEO Ara Mahdessian and CFO David Sherry; insiders sold 33,440 shares total over the last 90 days.
• Wall Street sentiment remains mixed but generally positive, with a Moderate Buy consensus and an average price target of $107.80, even as some analysts cut targets and one reiterated a sell rating.

Natixis Advisors LLC bought a new position in ServiceTitan Inc. (NASDAQ:TTAN - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 367,828 shares of the company's stock, valued at approximately $39,174,000. Natixis Advisors LLC owned 0.39% of ServiceTitan as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Toth Financial Advisory Corp lifted its position 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 buying an additional 150 shares during the last quarter. Farther Finance Advisors LLC raised its stake in shares of ServiceTitan by 189.1% in the fourth quarter. Farther Finance Advisors LLC now owns 266 shares of the company's stock valued at $28,000 after acquiring an additional 174 shares during the period. eCIO Inc. bought a new stake in shares of ServiceTitan in the 4th quarter worth about $30,000. Elevation Wealth Partners LLC bought a new stake in shares of ServiceTitan in the 4th quarter worth about $36,000. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in shares of ServiceTitan by 1,005.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 431 shares of the company's stock worth $46,000 after purchasing an additional 392 shares during the period.

Insider Transactions at ServiceTitan

In related news, CEO Ara Mahdessian sold 2,288 shares of ServiceTitan stock in a transaction dated 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 sale, the chief executive officer directly owned 1 shares in the company, valued at $69.86. The trade was a 99.96% 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. Also, CFO David Sherry sold 17,778 shares of the stock in a transaction dated Wednesday, March 18th. The stock was sold at an average price of $69.86, for a total transaction of $1,241,971.08. Following the transaction, the chief financial officer owned 313,025 shares in the company, valued at approximately $21,867,926.50. The trade was a 5.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 33,440 shares of company stock worth $2,281,468 in the last ninety days. 39.89% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

TTAN has been the topic of several analyst reports. Weiss Ratings reiterated a "sell (e+)" rating on shares of ServiceTitan in a report on Friday, April 24th. Wells Fargo & Company dropped their target price on ServiceTitan from $125.00 to $115.00 and set an "overweight" rating for the company in a research report on Friday, March 13th. TD Cowen cut their target price on ServiceTitan from $135.00 to $110.00 and set a "buy" rating on the stock in a research note on Tuesday, May 26th. The Goldman Sachs Group reduced their price target on ServiceTitan from $117.00 to $84.00 and set a "neutral" rating on the stock in a report on Monday, March 16th. Finally, Truist Financial decreased their price target on ServiceTitan from $130.00 to $100.00 and set a "buy" rating for the company in a research note on Friday, March 13th. Fifteen investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, ServiceTitan currently has a consensus rating of "Moderate Buy" and an average target price of $107.80.

ServiceTitan Price Performance

Shares of TTAN opened at $72.63 on Thursday. The firm has a market capitalization of $6.92 billion, a price-to-earnings ratio of -42.23 and a beta of 0.13. ServiceTitan Inc. has a 1-year low of $54.17 and a 1-year high of $119.99. The company has a 50-day moving average of $62.76 and a 200 day moving average of $78.15.

ServiceTitan (NASDAQ:TTAN - Get Free Report) last issued its earnings results on Thursday, March 12th. The company reported $0.27 EPS for the quarter, topping analysts' consensus estimates of $0.18 by $0.09. ServiceTitan had a negative net margin of 16.64% and a negative return on equity of 6.86%. The business had revenue of $253.99 million for the quarter, compared to analyst estimates of $245.47 million. During the same period last year, the company posted $0.12 earnings per share. The company's quarterly revenue was up 21.4% compared to the same quarter last year. On average, equities analysts anticipate that ServiceTitan Inc. will post -0.62 earnings per share for the current fiscal year.

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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