Michele O'connor Sells 5,581 Shares of ServiceTitan (NASDAQ:TTAN) Stock

Key Points

• ServiceTitan CAO Michele O’Connor sold 5,581 shares for approximately $318,508 at an average price of $57.07, reducing her direct holdings by 7.79%. The sale covered tax withholding obligations tied to vested equity awards.
• ServiceTitan shares traded around $56.53, near their one-year low of $53.00 and well below the 50-day and 200-day moving averages. The company has a $5.45 billion market capitalization and remains unprofitable on a net-margin basis.
• Despite the stock’s decline, analysts maintain a generally positive view: 14 rate it Buy, two Hold, and one Sell, producing a “Moderate Buy” consensus and an average price target of $96.38. The latest quarter exceeded earnings and revenue expectations, with revenue rising 20.9% year over year.

ServiceTitan Inc. (NASDAQ:TTAN - Get Free Report) CAO Michele O'connor sold 5,581 shares of the firm's stock in a transaction dated Thursday, September 17th. The stock was sold at an average price of $57.07, for a total value of $318,507.67. Following the sale, the chief accounting officer directly owned 66,095 shares in the company, valued at approximately $3,772,041.65. This represents a 7.79% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Michele O'connor also recently made the following trade(s):

• On Tuesday, July 7th, Michele O'connor sold 4,910 shares of ServiceTitan stock. The shares were sold at an average price of $80.93, for a total value of $397,366.30.

ServiceTitan Stock Performance

NASDAQ TTAN traded up $1.49 during trading hours on Monday, reaching $56.53. 5,388,843 shares of the company's stock were exchanged, compared to its average volume of 3,702,489. The company has a market capitalization of $5.45 billion, a price-to-earnings ratio of -41.57 and a beta of 0.11. The company's 50-day moving average is $80.79 and its two-hundred day moving average is $71.90. ServiceTitan Inc. has a one year low of $53.00 and a one year high of $115.92.

ServiceTitan (NASDAQ:TTAN - Get Free Report) last released its quarterly earnings results on Tuesday, September 8th. The company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.05. The company had revenue of $292.76 million during the quarter, compared to analysts' expectations of $285.89 million. ServiceTitan had a negative net margin of 12.12% and a negative return on equity of 5.65%. The business's quarterly revenue was up 20.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.33 earnings per share. Research analysts predict that ServiceTitan Inc. will post -0.53 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. UBS Group set a $100.00 price objective on ServiceTitan in a research report on Wednesday, September 9th. Piper Sandler dropped their target price on ServiceTitan from $115.00 to $110.00 and set an "overweight" rating on the stock in a research report on Wednesday, September 9th. KeyCorp cut their target price on ServiceTitan from $120.00 to $110.00 and set an "overweight" rating on the stock in a research note on Wednesday, September 9th. Evercore set a $90.00 price target on ServiceTitan in a research report on Wednesday, September 9th. Finally, BTIG Research reaffirmed a "buy" rating and set a $110.00 price target on shares of ServiceTitan in a research note on Wednesday, September 9th. Fourteen investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $96.38.

Hedge Funds Weigh In On ServiceTitan

Large investors have recently modified their holdings of the business. Stockbridge Partners LLC bought a new stake in ServiceTitan during the second quarter worth about $13,333,000. Natixis Advisors LLC acquired a new position in ServiceTitan during the fourth quarter valued at approximately $39,174,000. Littlejohn & Co. LLC bought a new position in ServiceTitan in the fourth quarter valued at approximately $19,686,000. Franklin Resources Inc. grew its stake in ServiceTitan by 33.8% in the fourth quarter. Franklin Resources Inc. now owns 2,014,025 shares of the company's stock valued at $214,494,000 after purchasing an additional 508,848 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of ServiceTitan by 4.1% during the 4th quarter. Geode Capital Management LLC now owns 670,270 shares of the company's stock worth $71,417,000 after purchasing an additional 26,273 shares during the last quarter.

About ServiceTitan

ServiceTitan, Inc develops cloud-based software designed to help residential and commercial contractors manage and grow their businesses. Its platform supports trades such as heating, ventilation and air conditioning, plumbing, electrical, roofing, and other field-service industries.

The company's products and services cover key business functions, including customer relationship management, lead generation, scheduling and dispatching, estimates, job management, invoicing, payments, financing, payroll, and business analytics.

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