Whittier Trust Co. of Nevada Inc. Grows Stock Holdings in ServiceTitan Inc. $TTAN

Key Points

• Whittier Trust Co. of Nevada dramatically increased its stake in ServiceTitan (TTAN) by 12,542.7%, acquiring 30,855 shares to hold 31,101 shares worth about $3.165 million at quarter-end.
• ServiceTitan beat quarterly expectations with $0.27 EPS vs. $0.18 expected and revenue of about $254M (up 21.4% YoY), but remains unprofitable (negative net margin ~16.6%) while analysts have trimmed price targets though consensus remains a “Moderate Buy” with a $112.31 target.
• Company insiders have been net sellers recently—including the president and CEO—totaling 34,418 shares sold (~$2.37M) in the last 90 days, even as insiders still own 51.72% of the stock.

Whittier Trust Co. of Nevada Inc. raised its position in ServiceTitan Inc. (NASDAQ:TTAN - Free Report) by 12,542.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 31,101 shares of the company's stock after acquiring an additional 30,855 shares during the quarter. Whittier Trust Co. of Nevada Inc.'s holdings in ServiceTitan were worth $3,165,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of TTAN. Cloud Capital Management LLC bought a new stake in shares of ServiceTitan during the 3rd quarter valued at about $25,000. Toth Financial Advisory Corp boosted its stake in ServiceTitan by 150.0% during the fourth quarter. Toth Financial Advisory Corp now owns 250 shares of the company's stock worth $27,000 after acquiring an additional 150 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in ServiceTitan by 189.1% during the fourth quarter. Farther Finance Advisors LLC now owns 266 shares of the company's stock worth $28,000 after acquiring an additional 174 shares in the last quarter. eCIO Inc. bought a new position in shares of ServiceTitan in the fourth quarter worth approximately $30,000. Finally, Elevation Wealth Partners LLC bought a new position in shares of ServiceTitan in the fourth quarter worth approximately $36,000.

ServiceTitan Trading Up 2.3%

Shares of TTAN stock opened at $64.31 on Friday. ServiceTitan Inc. has a 12 month low of $55.23 and a 12 month high of $131.33. The stock has a market cap of $6.02 billion, a P/E ratio of -37.39 and a beta of -0.14. The company has a 50 day simple moving average of $66.55 and a two-hundred day simple moving average of $85.49.

ServiceTitan (NASDAQ:TTAN - Get Free Report) last announced its earnings results on Thursday, March 12th. The company reported $0.27 EPS for the quarter, beating 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 during the quarter, compared to analysts' expectations of $245.47 million. During the same period in the prior year, the company earned $0.12 earnings per share. The firm's revenue was up 21.4% on a year-over-year basis. As a group, equities analysts forecast that ServiceTitan Inc. will post -1.98 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on TTAN. Canaccord Genuity Group dropped their target price 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. KeyCorp decreased their price objective on shares of ServiceTitan from $140.00 to $120.00 and set an "overweight" rating for the company in a report on Friday, March 13th. Truist Financial decreased their price objective on shares of ServiceTitan from $130.00 to $100.00 and set a "buy" rating for the company in a report on Friday, March 13th. Morgan Stanley decreased their price objective on shares of ServiceTitan from $131.00 to $118.00 and set an "overweight" rating for the company in a report on Friday, March 13th. Finally, The Goldman Sachs Group decreased their price objective on shares of ServiceTitan from $117.00 to $84.00 and set a "neutral" rating for the company in a report on Monday, March 16th. Sixteen investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $112.31.

Insider Activity

In other news, President Vahe Kuzoyan sold 3,220 shares of the 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 directly owned 1 shares of the company's stock, valued at $69.86. This represents a 99.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Ara Mahdessian sold 2,288 shares of the stock in a transaction on Wednesday, March 18th. The stock was sold at an average price of $69.86, for a total transaction of $159,839.68. Following the completion of the sale, the chief executive officer directly owned 1 shares of the company's stock, valued at approximately $69.86. This trade represents a 99.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 34,418 shares of company stock valued at $2,370,319. 51.72% of the stock is currently owned by company insiders.

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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