ServiceTitan (NASDAQ:TTAN) President Sells 3,148 Shares of Stock

Key Points

• ServiceTitan President Vahe Kuzoyan sold 3,148 shares for approximately $179,656 at an average price of $57.07, reducing his direct holdings to just two shares. The sale was made to cover tax withholding tied to vested equity awards.
• ServiceTitan shares rose 2.7% to $56.53 but remain well below their 52-week high of $115.92. The company recently exceeded quarterly earnings and revenue estimates, reporting $0.40 EPS and $292.76 million in revenue, up 20.9% year over year.
• Analysts maintain a broadly positive outlook, with a “Moderate Buy” consensus and an average price target of $96.38, although several firms recently lowered their targets. Institutional investors including Elevation Wealth Partners and First Bank & Trust increased their holdings.

ServiceTitan Inc. (NASDAQ:TTAN - Get Free Report) President Vahe Kuzoyan sold 3,148 shares of the stock in a transaction dated Thursday, September 17th. The shares were sold at an average price of $57.07, for a total value of $179,656.36. Following the completion of the transaction, the president directly owned 2 shares of the company's stock, valued at $114.14. This represents a 99.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Vahe Kuzoyan also recently made the following trade(s):

• On Wednesday, August 12th, Vahe Kuzoyan sold 16,388 shares of ServiceTitan stock. The stock was sold at an average price of $88.95, for a total value of $1,457,712.60.
• On Tuesday, August 11th, Vahe Kuzoyan sold 114,732 shares of ServiceTitan stock. The shares were sold at an average price of $88.84, for a total value of $10,192,790.88.

ServiceTitan Stock Up 2.7%

Shares of ServiceTitan stock traded up $1.49 on Monday, hitting $56.53. 5,388,843 shares of the company's stock traded hands, compared to its average volume of 3,702,489. The stock has a market cap of $5.45 billion, a P/E ratio of -41.57 and a beta of 0.11. The firm's 50-day moving average is $80.79 and its 200 day moving average is $71.90. ServiceTitan Inc. has a 52-week low of $53.00 and a 52-week high of $115.92.

ServiceTitan (NASDAQ:TTAN - Get Free Report) last issued its quarterly earnings results on Tuesday, September 8th. The company reported $0.40 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.35 by $0.05. The business had revenue of $292.76 million during the quarter, compared to analyst estimates 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 revenue was up 20.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.33 earnings per share. Equities research analysts forecast that ServiceTitan Inc. will post -0.53 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on TTAN shares. Stifel Nicolaus reduced their price target on shares of ServiceTitan from $125.00 to $100.00 and set a "buy" rating on the stock in a research report on Wednesday, September 9th. Canaccord Genuity Group lowered their price objective on ServiceTitan from $105.00 to $90.00 and set a "buy" rating for the company 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 on the stock in a research note on Wednesday, September 9th. UBS Group set a $100.00 target price on ServiceTitan in a research report on Wednesday, September 9th. Finally, Piper Sandler lowered their price target on ServiceTitan from $115.00 to $110.00 and set an "overweight" rating for the company in a report on Wednesday, September 9th. Fourteen equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $96.38.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of TTAN. Elevation Wealth Partners LLC raised its stake in ServiceTitan by 20.0% during the second quarter. Elevation Wealth Partners LLC now owns 863 shares of the company's stock worth $61,000 after acquiring an additional 144 shares during the period. EverSource Wealth Advisors LLC boosted its stake in ServiceTitan by 30.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 906 shares of the company's stock valued at $96,000 after acquiring an additional 209 shares during the period. Envestnet Portfolio Solutions Inc. boosted its stake in ServiceTitan by 18.9% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 2,973 shares of the company's stock valued at $317,000 after acquiring an additional 472 shares during the period. State of Wyoming bought a new position in shares of ServiceTitan during the first quarter valued at approximately $48,000. Finally, First Bank & Trust grew its holdings in shares of ServiceTitan by 24.2% during the second quarter. First Bank & Trust now owns 4,426 shares of the company's stock valued at $313,000 after purchasing an additional 862 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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