ServiceTitan Inc. (NASDAQ:TTAN) Major Shareholder Sells $5,728,499.18 in Stock

ServiceTitan Inc. (NASDAQ:TTAN - Get Free Report) major shareholder Iconiq Strategic Partners V, L sold 52,082 shares of the business's stock in a transaction that occurred on Wednesday, July 9th. The shares were sold at an average price of $109.99, for a total value of $5,728,499.18. Following the completion of the transaction, the insider directly owned 648,606 shares of the company's stock, valued at $71,340,173.94. The trade was a 7.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Major shareholders that own more than 10% of a company's stock are required to disclose their sales and purchases 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 ServiceTitan stock traded down $3.98 during trading hours on Friday, hitting $106.96. The company's stock had a trading volume of 720,752 shares, compared to its average volume of 728,949. ServiceTitan Inc. has a twelve month low of $79.81 and a twelve month high of $131.33. The company's fifty day simple moving average is $113.12. 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 (NASDAQ:TTAN - Get Free Report) last announced its quarterly earnings results on Thursday, June 5th. The company reported $0.18 EPS for the quarter, beating the consensus estimate of $0.12 by $0.06. The business had revenue of $215.69 million during the quarter, compared to analyst estimates of $208.61 million. The firm's revenue was up 26.6% on a year-over-year basis. Equities analysts forecast that ServiceTitan Inc. will post -1.98 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on TTAN shares. Cowen reaffirmed a "buy" rating on shares of ServiceTitan in a research note on Wednesday, May 21st. TD Securities upped their target price on ServiceTitan from $120.00 to $140.00 and gave the stock a "buy" rating in a research note on Wednesday, May 21st. Loop Capital reaffirmed a "hold" rating and set a $100.00 target price (up from $90.00) on shares of ServiceTitan in a research note on Friday, June 6th. Piper Sandler reaffirmed an "overweight" rating and set a $125.00 target price on shares of ServiceTitan in a research note on Friday, March 14th. Finally, TD Cowen started coverage on ServiceTitan in a research note on Tuesday, April 8th. They set a "buy" rating and a $120.00 target price for the company. Four investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $122.21.

Hedge Funds Weigh In On ServiceTitan

Several hedge funds have recently bought and sold shares of the company. Perpetual Ltd acquired a new position in ServiceTitan during the 2nd quarter worth about $324,000. Woodline Partners LP raised its position in ServiceTitan by 4.6% in the 1st quarter. Woodline Partners LP now owns 2,141 shares of the company's stock valued at $204,000 after purchasing an additional 95 shares in the last quarter. Alliancebernstein L.P. raised its position in ServiceTitan by 143.1% in the 1st quarter. Alliancebernstein L.P. now owns 356,490 shares of the company's stock valued at $33,906,000 after purchasing an additional 209,822 shares in the last quarter. Alyeska Investment Group L.P. raised its position in ServiceTitan by 20.0% in the 1st quarter. Alyeska Investment Group L.P. now owns 60,000 shares of the company's stock valued at $5,707,000 after purchasing an additional 10,000 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. AG acquired a new stake in ServiceTitan in the 1st quarter valued at about $1,221,000.

ServiceTitan Company Profile

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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