ServiceTitan (NASDAQ:TTAN) CEO Ara Mahdessian Sells 41,073 Shares of Stock

Key Points

• CEO Ara Mahdessian sold 41,073 ServiceTitan shares at an average of $83.78, totaling about $3.44 million; the sale was made under a pre-arranged Rule 10b5-1 trading plan. He also sold 63,927 shares the previous day.
• ServiceTitan’s latest quarter beat analyst estimates, reporting EPS of $0.40 versus $0.35 expected and revenue of $292.76 million, up 20.9% year over year.
• Shares traded at $82.21, while analysts’ consensus rating was “Moderate Buy,” with an average price target of $96.38.

ServiceTitan Inc. (NASDAQ:TTAN - Get Free Report) CEO Ara Mahdessian sold 41,073 shares of ServiceTitan stock in a transaction that occurred on Thursday, November 5th. The shares were sold at an average price of $83.78, for a total transaction of $3,441,095.94. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Ara Mahdessian also recently made the following trade(s):

• On Wednesday, November 4th, Ara Mahdessian sold 63,927 shares of ServiceTitan stock. The shares were sold at an average price of $87.38, for a total transaction of $5,585,941.26.
• On Thursday, September 17th, Ara Mahdessian sold 3,148 shares of ServiceTitan stock. The stock was sold at an average price of $57.07, for a total transaction of $179,656.36.

ServiceTitan Price Performance

TTAN stock traded down $5.55 during midday trading on Thursday, hitting $82.21. 1,576,316 shares of the stock traded hands, compared to its average volume of 1,516,832. The firm has a market cap of $7.93 billion, a P/E ratio of -60.45 and a beta of 0.09. The stock's fifty day simple moving average is $74.19 and its 200-day simple moving average is $72.47. ServiceTitan Inc. has a 1-year low of $53.00 and a 1-year high of $111.36.

ServiceTitan (NASDAQ:TTAN - Get Free Report) last released its quarterly earnings data on Tuesday, September 8th. The company reported $0.40 earnings per share for the quarter, beating analysts' consensus estimates 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 firm's revenue for the quarter was up 20.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.33 earnings per share. On average, research analysts predict that ServiceTitan Inc. will post -0.55 earnings per share for the current year.

Institutional Investors Weigh In On ServiceTitan

Institutional investors have recently bought and sold shares of the company. Canton Hathaway LLC acquired a new position in shares of ServiceTitan during the third quarter valued at approximately $25,000. Heritage Family Offices LLP purchased a new position in shares of ServiceTitan in the third quarter valued at approximately $33,000. Farther Finance Advisors LLC boosted its stake in shares of ServiceTitan by 98.5% in the third quarter. Farther Finance Advisors LLC now owns 526 shares of the company's stock worth $35,000 after acquiring an additional 261 shares during the last quarter. Covestor Ltd acquired a new stake in shares of ServiceTitan in the third quarter worth approximately $37,000. Finally, State of Wyoming purchased a new stake in shares of ServiceTitan during the first quarter worth approximately $48,000.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Evercore set a $90.00 price objective on ServiceTitan in a report on Wednesday, September 9th. Morgan Stanley cut their price objective on ServiceTitan from $124.00 to $92.00 and set an "overweight" rating for the company in a research report on Wednesday, September 9th. Citigroup reduced their target price on ServiceTitan from $83.00 to $76.00 and set a "neutral" rating for the company in a research note on Wednesday, September 9th. TD Cowen reiterated a "buy" rating and set a $100.00 target price on shares of ServiceTitan in a research report on Wednesday, October 7th. Finally, Canaccord Genuity Group dropped their price target on shares of ServiceTitan from $105.00 to $90.00 and set a "buy" rating on the stock in a research note on Wednesday, September 9th. Fourteen equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $96.38.

About ServiceTitan

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

The company's software supports core operations such as customer relationship management, marketing, scheduling, dispatching, estimates, invoicing, payments, inventory management, purchasing, payroll, and business reporting.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.