ServiceTitan (NASDAQ:TTAN) CFO David Sherry Sells 1,138 Shares of Stock

Key Points

• CFO David Sherry sold 1,138 ServiceTitan shares at an average price of $75.22, generating $85,600.36. The transaction, conducted under a pre-arranged Rule 10b5-1 plan, reduced his holdings by 0.31% to 362,373 shares.
• ServiceTitan shares rose 4.4% to $78.26, while the company’s latest quarterly results exceeded expectations: EPS was $0.40 versus a $0.35 estimate, and revenue increased 20.9% year over year to $292.76 million.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $96.38, despite several firms recently lowering their targets.

ServiceTitan Inc. (NASDAQ:TTAN - Get Free Report) CFO David Sherry sold 1,138 shares of ServiceTitan stock in a transaction dated Thursday, October 15th. The stock was sold at an average price of $75.22, for a total value of $85,600.36. Following the completion of the sale, the chief financial officer owned 362,373 shares of the company's stock, valued at $27,257,697.06. The trade was a 0.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

David Sherry also recently made the following trade(s):

• On Thursday, September 17th, David Sherry sold 23,246 shares of ServiceTitan stock. The shares were sold at an average price of $57.07, for a total transaction of $1,326,649.22.
• On Friday, August 14th, David Sherry sold 9,000 shares of ServiceTitan stock. The shares were sold at an average price of $90.83, for a total transaction of $817,470.00.

ServiceTitan Stock Up 4.4%

Shares of NASDAQ TTAN traded up $3.28 during trading on Monday, reaching $78.26. 1,325,870 shares of the company traded hands, compared to its average volume of 1,753,841. The firm has a 50 day simple moving average of $76.61 and a 200-day simple moving average of $71.50. The stock has a market capitalization of $7.55 billion, a PE ratio of -57.54 and a beta of 0.33. ServiceTitan Inc. has a 52-week low of $53.00 and a 52-week high of $111.36.

ServiceTitan (NASDAQ:TTAN - Get Free Report) last announced its quarterly 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 firm had revenue of $292.76 million during the quarter, compared to analyst estimates of $285.89 million. During the same period in the previous year, the business posted $0.33 earnings per share. The business's revenue for the quarter was up 20.9% on a year-over-year basis. As a group, research analysts predict that ServiceTitan Inc. will post -0.52 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. First Bank & Trust increased its stake in shares of ServiceTitan by 10.6% in the third quarter. First Bank & Trust now owns 4,895 shares of the company's stock worth $322,000 after purchasing an additional 469 shares in the last quarter. KRS Capital Management LLC raised its position in shares of ServiceTitan by 30.0% during the 3rd quarter. KRS Capital Management LLC now owns 6,022 shares of the company's stock valued at $396,000 after purchasing an additional 1,390 shares during the period. Vontobel Holding Ltd. lifted its stake in shares of ServiceTitan by 43.6% during the 3rd quarter. Vontobel Holding Ltd. now owns 18,829 shares of the company's stock valued at $1,239,000 after buying an additional 5,721 shares in the last quarter. Pension & Wealth Management Advisors Inc. lifted its stake in shares of ServiceTitan by 14.4% during the 3rd quarter. Pension & Wealth Management Advisors Inc. now owns 2,481 shares of the company's stock valued at $163,000 after buying an additional 312 shares in the last quarter. Finally, State of Alaska Department of Revenue purchased a new position in shares of ServiceTitan during the 3rd quarter valued at $273,000.

Analysts Set New Price Targets

A number of research firms have commented on TTAN. TD Cowen reaffirmed a "buy" rating and issued a $100.00 target price on shares of ServiceTitan in a research report on Wednesday, October 7th. Robert W. Baird lowered their price target on ServiceTitan from $101.00 to $85.00 and set an "outperform" rating on the stock in a report on Wednesday, September 9th. Evercore set a $90.00 price target on ServiceTitan in a research note on Wednesday, September 9th. Piper Sandler dropped their price target on ServiceTitan from $115.00 to $110.00 and set an "overweight" rating on the stock in a research note on Wednesday, September 9th. Finally, Wells Fargo & Company cut their price objective on ServiceTitan from $115.00 to $105.00 and set an "overweight" rating for the company in a report on Wednesday, September 9th. Fourteen research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $96.38.

ServiceTitan Company Profile

ServiceTitan, Inc is a cloud-based software company that provides business management solutions for residential and commercial contractors. Its platform is designed for companies in the trades, including heating, ventilation and air conditioning (HVAC), plumbing, electrical, roofing, landscaping and related services.

ServiceTitan's products support a range of operational and customer-facing functions, including scheduling and dispatching, customer relationship management, estimates, invoicing, payments, marketing, reporting and field-service management.

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