Strs Ohio Takes Position in ServiceTitan Inc. $TTAN

Key Points

• Strs Ohio bought a new stake of 34,800 shares in ServiceTitan (NASDAQ:TTAN) during Q4, valued at about $3.706 million.
• Company insiders have been selling recently — CAO Michele O'Connor sold 5,154 shares and President Vahe Kuzoyan sold 3,220 (leaving him with 1 share) — with insiders selling 33,440 shares in the last 90 days, though insiders still own 51.72% of the stock.
• ServiceTitan beat Q1 estimates with $0.27 EPS and revenue of $253.99M (up 21.4% YoY) but remains unprofitable (negative net margin and ROE); analysts hold a consensus of Moderate Buy with an average price target of $112.31 despite several recent target cuts.

Strs Ohio purchased a new stake in shares of ServiceTitan Inc. (NASDAQ:TTAN - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 34,800 shares of the company's stock, valued at approximately $3,706,000.

Other large investors have also recently added to or reduced their stakes in the company. WoodTrust Financial Corp boosted its holdings in ServiceTitan by 15.4% in the fourth quarter. WoodTrust Financial Corp now owns 3,000 shares of the company's stock worth $320,000 after purchasing an additional 400 shares during the period. Keybank National Association OH lifted its position in shares of ServiceTitan by 18.1% in the 4th quarter. Keybank National Association OH now owns 5,414 shares of the company's stock worth $577,000 after buying an additional 828 shares during the last quarter. Comerica Bank boosted its holdings in shares of ServiceTitan by 372.3% in the 4th quarter. Comerica Bank now owns 26,513 shares of the company's stock valued at $2,824,000 after buying an additional 20,899 shares during the period. Renaissance Capital LLC boosted its holdings in shares of ServiceTitan by 222.8% in the 4th quarter. Renaissance Capital LLC now owns 41,223 shares of the company's stock valued at $4,390,000 after buying an additional 28,454 shares during the period. Finally, Anchyra Partners LLC bought a new stake in shares of ServiceTitan during the 4th quarter valued at about $1,767,000.

Insider Transactions at ServiceTitan

In other news, CAO Michele O'connor sold 5,154 shares of the company's stock in a transaction on Wednesday, March 18th. The stock was sold at an average price of $69.86, for a total value of $360,058.44. Following the completion of the sale, the chief accounting officer owned 84,416 shares in the company, valued at $5,897,301.76. This represents a 5.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, President Vahe Kuzoyan sold 3,220 shares of the company's stock in a transaction on Wednesday, March 18th. The shares were sold at an average price of $69.86, for a total value of $224,949.20. Following the completion of the sale, 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. In the last 90 days, insiders sold 33,440 shares of company stock valued at $2,281,468. Company insiders own 51.72% of the company's stock.

ServiceTitan Trading Up 0.2%

TTAN stock opened at $63.92 on Wednesday. The firm's 50-day moving average is $66.33 and its two-hundred day moving average is $82.67. The company has a market capitalization of $5.99 billion, a price-to-earnings ratio of -37.16 and a beta of -0.23. ServiceTitan Inc. has a 52 week low of $55.23 and a 52 week high of $131.33.

ServiceTitan (NASDAQ:TTAN - Get Free Report) last posted its quarterly earnings data on Thursday, March 12th. The company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts' expectations of $245.47 million. During the same period last year, the firm posted $0.12 earnings per share. The business's revenue was up 21.4% on a year-over-year basis. On average, equities research analysts predict that ServiceTitan Inc. will post -0.62 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Canaccord Genuity Group dropped their price objective on shares of ServiceTitan from $140.00 to $105.00 and set a "buy" rating on the stock in a research note on Friday, March 13th. Citigroup lowered their target price on ServiceTitan from $117.00 to $88.00 and set a "neutral" rating for the company in a report on Friday, March 13th. The Goldman Sachs Group dropped their price target on ServiceTitan from $117.00 to $84.00 and set a "neutral" rating on the stock in a research report on Monday, March 16th. TD Cowen raised their price target on ServiceTitan from $130.00 to $135.00 and gave the stock a "buy" rating in a report on Friday, March 13th. Finally, Piper Sandler lowered their price objective on ServiceTitan from $120.00 to $100.00 and set an "overweight" rating for the company in a research note on Tuesday, April 14th. Sixteen research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $112.31.

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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