ServiceTitan (NASDAQ:TTAN) CEO Sells 63,927 Shares of Stock

Key Points

• ServiceTitan CEO Ara Mahdessian sold 63,927 shares for about $5.59 million at an average price of $87.38; the sale was made under a pre-arranged Rule 10b5-1 trading plan.
• The stock fell $5.55 to $82.21 during Thursday’s trading session. Analysts have a “Moderate Buy” consensus rating and an average price target of $96.38.
• In its latest reported quarter, ServiceTitan beat earnings and revenue estimates, with revenue rising 20.9% year over year to $292.76 million.

ServiceTitan Inc. (NASDAQ:TTAN - Get Free Report) CEO Ara Mahdessian sold 63,927 shares of ServiceTitan stock in a transaction on Wednesday, November 4th. The stock was sold at an average price of $87.38, for a total value of $5,585,941.26. The transaction was disclosed in a filing with the SEC, which is available at 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 Thursday, November 5th, Ara Mahdessian sold 41,073 shares of ServiceTitan stock. The stock was sold at an average price of $83.78, for a total transaction of $3,441,095.94.
• On Thursday, September 17th, Ara Mahdessian sold 3,148 shares of ServiceTitan stock. The shares were sold at an average price of $57.07, for a total transaction of $179,656.36.

ServiceTitan Stock Performance

ServiceTitan stock traded down $5.55 during trading hours on Thursday, hitting $82.21. The company had a trading volume of 1,576,316 shares, 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 company has a 50-day moving average price of $74.19 and a two-hundred day moving average price of $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 issued its earnings results on Tuesday, September 8th. The company reported $0.40 EPS for the quarter, topping analysts' consensus estimates of $0.35 by $0.05. ServiceTitan had a negative net margin of 12.12% and a negative return on equity of 5.65%. The business had revenue of $292.76 million for the quarter, compared to analyst estimates of $285.89 million. During the same period last year, the company posted $0.33 earnings per share. The company's quarterly revenue was up 20.9% compared to the same quarter last year. As a group, equities research analysts anticipate that ServiceTitan Inc. will post -0.55 EPS for the current year.

Institutional Trading of ServiceTitan

A number of hedge funds have recently bought and sold shares of TTAN. WINTON GROUP Ltd purchased a new position in shares of ServiceTitan in the 2nd quarter valued at $5,218,000. Whetstone Capital Advisors LLC purchased a new stake in shares of ServiceTitan during the 2nd quarter worth $3,275,000. Stockbridge Partners LLC purchased a new stake in shares of ServiceTitan during the 2nd quarter worth $13,333,000. Tidal Investments LLC lifted its stake in shares of ServiceTitan by 598.9% during the 2nd quarter. Tidal Investments LLC now owns 27,963 shares of the company's stock worth $1,977,000 after purchasing an additional 23,962 shares during the last quarter. Finally, Shah Wealth Advisors LLC bought a new stake in ServiceTitan during the second quarter valued at about $1,186,000.

Wall Street Analysts Forecast Growth

Several research firms have commented on TTAN. Canaccord Genuity Group reduced their price objective on ServiceTitan from $105.00 to $90.00 and set a "buy" rating on the stock in a report on Wednesday, September 9th. TD Cowen reiterated a "buy" rating and issued a $100.00 target price on shares of ServiceTitan in a report on Wednesday, October 7th. Weiss Ratings raised ServiceTitan from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Tuesday, September 29th. BMO Capital Markets cut their price target on ServiceTitan from $103.00 to $90.00 and set an "outperform" rating on the stock in a research note on Wednesday, September 9th. Finally, Stifel Nicolaus decreased their price objective on ServiceTitan from $125.00 to $100.00 and set a "buy" rating for the company in a report on Wednesday, September 9th. Fourteen analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $96.38.

ServiceTitan Company Profile

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.

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