Insider Selling: ServiceTitan Inc. (NASDAQ:TTAN) CEO Sells 42,666 Shares of Stock

ServiceTitan Inc. (NASDAQ:TTAN - Get Free Report) CEO Ara Mahdessian sold 42,666 shares of ServiceTitan stock in a transaction that occurred on Thursday, July 17th. The shares were sold at an average price of $112.51, for a total transaction of $4,800,351.66. Following the transaction, the chief executive officer directly owned 1 shares in the company, valued at $112.51. This represents a 100.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Wednesday, July 16th, Ara Mahdessian sold 42,674 shares of ServiceTitan stock. The shares were sold at an average price of $110.84, for a total transaction of $4,729,986.16.
• On Thursday, June 26th, Ara Mahdessian sold 24,391 shares of ServiceTitan stock. The shares were sold at an average price of $104.65, for a total transaction of $2,552,518.15.

ServiceTitan Trading Up 0.3%

Shares of NASDAQ TTAN traded up $0.37 during trading on Monday, hitting $114.46. 101,519 shares of the company were exchanged, compared to its average volume of 729,339. ServiceTitan Inc. has a 12-month low of $79.81 and a 12-month high of $131.33. The company has a quick ratio of 4.82, a current ratio of 4.82 and a debt-to-equity ratio of 0.07. The company has a fifty day moving average price of $112.32 and a 200-day moving average price of $105.07.

ServiceTitan (NASDAQ:TTAN - Get Free Report) last posted its quarterly earnings results on Thursday, June 5th. The company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.12 by $0.06. The company had revenue of $215.69 million for the quarter, compared to analysts' expectations of $208.61 million. The company's revenue was up 26.6% on a year-over-year basis. On average, equities analysts forecast that ServiceTitan Inc. will post -1.98 earnings per share for the current fiscal year.

Institutional Trading of ServiceTitan

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Impact Capital Partners LLC acquired a new position in shares of ServiceTitan during the second quarter worth about $300,000. Truist Financial Corp acquired a new position in ServiceTitan in the second quarter valued at approximately $2,488,000. Janney Montgomery Scott LLC acquired a new position in ServiceTitan in the second quarter valued at approximately $3,438,000. EdgeRock Capital LLC acquired a new position in ServiceTitan in the second quarter valued at approximately $383,000. Finally, Perigon Wealth Management LLC purchased a new stake in ServiceTitan in the second quarter valued at approximately $2,844,000.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on TTAN shares. Cowen reissued a "buy" rating on shares of ServiceTitan in a research note on Wednesday, May 21st. TD Cowen started coverage on shares of ServiceTitan in a research note on Tuesday, April 8th. They issued a "buy" rating and a $120.00 target price on the stock. Loop Capital restated a "hold" rating and issued a $100.00 price target (up from $90.00) on shares of ServiceTitan in a report on Friday, June 6th. Morgan Stanley increased their target price on shares of ServiceTitan from $107.00 to $109.00 and gave the stock an "equal weight" rating in a report on Friday, June 6th. Finally, Stifel Nicolaus increased their target price on shares of ServiceTitan from $110.00 to $125.00 and gave the stock a "buy" rating in a report on Friday, May 30th. Four research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $122.21.

About ServiceTitan

ServiceTitan, Inc engages in the collection of field service activities required to install, maintain, and service the infrastructure and systems of residences and commercial buildings. The company was founded by Ara Mahdessian and Vahe Kuzoyan on June 8, 2008 and is headquartered in Glendale, CA.