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ServiceTitan Inc. (NASDAQ:TTAN) Major Shareholder Iconiq Strategic Partners V, L Sells 52,082 Shares

ServiceTitan logo with Computer and Technology background

ServiceTitan Inc. (NASDAQ:TTAN - Get Free Report) major shareholder Iconiq Strategic Partners V, L sold 52,082 shares of the stock in a transaction on Wednesday, July 9th. The stock was sold at an average price of $109.99, for a total value of $5,728,499.18. Following the sale, the insider directly owned 648,606 shares in the company, valued at approximately $71,340,173.94. This trade represents a 7.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Major shareholders that own at least 10% of a company's shares are required to disclose their transactions with the SEC.

Iconiq Strategic Partners V, L also recently made the following trade(s):

  • On Wednesday, July 9th, Iconiq Strategic Partners V, L sold 38,835 shares of ServiceTitan stock. The shares were sold at an average price of $109.99, for a total value of $4,271,461.65.

ServiceTitan Stock Performance

Shares of NASDAQ:TTAN traded up $1.19 during mid-day trading on Monday, hitting $108.15. The company had a trading volume of 618,311 shares, compared to its average volume of 728,317. The company has a fifty day moving average of $112.90. The company has a quick ratio of 4.82, a current ratio of 4.82 and a debt-to-equity ratio of 0.07. ServiceTitan Inc. has a one year low of $79.81 and a one year high of $131.33.

ServiceTitan (NASDAQ:TTAN - Get Free Report) last released its quarterly earnings data on Thursday, June 5th. The company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.06. The company had revenue of $215.69 million during the quarter, compared to the consensus estimate of $208.61 million. The company's quarterly revenue was up 26.6% on a year-over-year basis. As a group, sell-side analysts anticipate that ServiceTitan Inc. will post -1.98 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in TTAN. SBI Securities Co. Ltd. bought a new position in ServiceTitan during the 4th quarter valued at $26,000. Victory Capital Management Inc. bought a new position in ServiceTitan during the 4th quarter valued at $10,450,000. Assetmark Inc. bought a new position in ServiceTitan during the 4th quarter valued at $67,000. Avantax Advisory Services Inc. bought a new position in ServiceTitan during the 4th quarter valued at $227,000. Finally, Burkehill Global Management LP bought a new position in ServiceTitan during the 4th quarter valued at $5,144,000.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. TD Securities lifted their target price on ServiceTitan from $120.00 to $140.00 and gave the company a "buy" rating in a research report on Wednesday, May 21st. Stifel Nicolaus increased their price target on ServiceTitan from $110.00 to $125.00 and gave the company a "buy" rating in a research note on Friday, May 30th. Loop Capital reiterated a "hold" rating and issued a $100.00 price target (up from $90.00) on shares of ServiceTitan in a research note on Friday, June 6th. TD Cowen started coverage on shares of ServiceTitan in a report on Tuesday, April 8th. They set a "buy" rating and a $120.00 target price on the stock. Finally, Morgan Stanley boosted 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. Four investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, ServiceTitan currently has an average rating of "Moderate Buy" and a consensus target price of $122.21.

Read Our Latest Stock Analysis on TTAN

About ServiceTitan

(Get Free Report)

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.

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