Vanguard Group Inc. Purchases 439,079 Shares of ServiceTitan Inc. $TTAN

Key Points

• Vanguard Group Inc. increased its stake in ServiceTitan by 9.9% in Q4, buying 439,079 shares to own 4,869,009 shares (about a 5.20% stake) valued at roughly $518.55 million.
• Insiders have recently sold 33,440 shares worth $2.28 million (including President Vahe Kuzoyan and CAO Michele O'Connor), although company insiders still own 51.72% of the stock.
• Several analysts have cut price targets (e.g., Goldman Sachs to $84), but the consensus remains a Moderate Buy with a $112.31 price target; ServiceTitan recently beat quarterly EPS and revenue estimates despite continuing negative net margin and return on equity.

Vanguard Group Inc. lifted its position in ServiceTitan Inc. (NASDAQ:TTAN - Free Report) by 9.9% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 4,869,009 shares of the company's stock after purchasing an additional 439,079 shares during the period. Vanguard Group Inc. owned about 5.20% of ServiceTitan worth $518,549,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Cloud Capital Management LLC bought a new stake in ServiceTitan in the third quarter valued at $25,000. Toth Financial Advisory Corp boosted its holdings in ServiceTitan by 150.0% in the fourth quarter. Toth Financial Advisory Corp now owns 250 shares of the company's stock valued at $27,000 after acquiring an additional 150 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in 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 in the last quarter. eCIO Inc. bought a new stake in ServiceTitan in the fourth quarter valued at $30,000. Finally, Elevation Wealth Partners LLC bought a new stake in ServiceTitan in the fourth quarter valued at $36,000.

Insider Buying and Selling

In other news, President Vahe Kuzoyan sold 3,220 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 $224,949.20. Following the completion of the transaction, the president owned 1 shares of the company's stock, valued at $69.86. The trade was a 99.97% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Michele O'connor sold 5,154 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 $360,058.44. Following the completion of the sale, the chief accounting officer owned 84,416 shares of the company's stock, valued at $5,897,301.76. The trade was a 5.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 33,440 shares of company stock worth $2,281,468 in the last 90 days. 51.72% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts recently weighed in on TTAN shares. Stifel Nicolaus cut their price target on shares of ServiceTitan from $145.00 to $125.00 and set a "buy" rating on the stock in a report on Friday, March 13th. KeyCorp lowered their price objective on ServiceTitan from $140.00 to $120.00 and set an "overweight" rating for the company in a research report on Friday, March 13th. Canaccord Genuity Group lowered their price objective on ServiceTitan from $140.00 to $105.00 and set a "buy" rating for the company in a research report on Friday, March 13th. Truist Financial lowered their price objective on ServiceTitan from $130.00 to $100.00 and set a "buy" rating for the company in a research report on Friday, March 13th. Finally, The Goldman Sachs Group lowered their price objective on ServiceTitan from $117.00 to $84.00 and set a "neutral" rating for the company in a research report on Monday, March 16th. Sixteen analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $112.31.

ServiceTitan Price Performance

TTAN opened at $63.82 on Tuesday. The stock has a 50-day moving average price of $66.39 and a 200-day moving average price of $82.88. The firm has a market cap of $5.98 billion, a PE ratio of -37.10 and a beta of -0.23. ServiceTitan Inc. has a 1 year low of $55.23 and a 1 year high of $131.33.

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