ServiceTitan (NASDAQ:TTAN) Trading Down 2.6% - Should You Sell?

ServiceTitan Inc. (NASDAQ:TTAN - Get Free Report)'s share price was down 2.6% during mid-day trading on Monday . The stock traded as low as $121.47 and last traded at $122.07. Approximately 65,635 shares traded hands during trading, a decline of 83% from the average daily volume of 381,225 shares. The stock had previously closed at $125.37.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on TTAN shares. Needham & Company LLC increased their price objective on shares of ServiceTitan from $125.00 to $140.00 and gave the stock a "buy" rating in a research report on Tuesday. Canaccord Genuity Group raised their target price on ServiceTitan from $120.00 to $130.00 and gave the stock a "buy" rating in a research note on Thursday, April 17th. KeyCorp increased their price target on ServiceTitan from $120.00 to $140.00 and gave the stock an "overweight" rating in a report on Friday, April 25th. The Goldman Sachs Group initiated coverage on shares of ServiceTitan in a research report on Monday, January 6th. They set a "neutral" rating and a $100.00 target price on the stock. Finally, Piper Sandler reaffirmed an "overweight" rating and issued a $125.00 price target on shares of ServiceTitan in a research note on Friday, March 14th. Four analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, ServiceTitan currently has a consensus rating of "Moderate Buy" and a consensus price target of $118.23.

ServiceTitan Price Performance

The firm has a fifty day moving average price of $99.96.

Insiders Place Their Bets

In other news, CAO Michele O'connor sold 5,494 shares of the company's stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $94.65, for a total value of $520,007.10. Following the completion of the transaction, the chief accounting officer now directly owns 89,302 shares in the company, valued at approximately $8,452,434.30. This represents a 5.80 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO David Sherry sold 10,175 shares of the firm's stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $94.65, for a total value of $963,063.75. Following the transaction, the chief financial officer now directly owns 325,409 shares in the company, valued at approximately $30,799,961.85. This represents a 3.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Deer Management Co. LLC purchased a new position in ServiceTitan in the 4th quarter worth $925,943,000. TPG GP A LLC purchased a new stake in ServiceTitan during the 4th quarter valued at about $525,405,000. Battery Management Corp. bought a new position in ServiceTitan during the 4th quarter worth approximately $496,599,000. Price T Rowe Associates Inc. MD purchased a new position in ServiceTitan in the 4th quarter worth approximately $233,937,000. Finally, Dragoneer Investment Group LLC bought a new stake in ServiceTitan in the fourth quarter valued at approximately $210,777,000.

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.