ServiceTitan (NASDAQ:TTAN) Stock Price Down 4.6% - Time to Sell?

Shares of ServiceTitan Inc. (NASDAQ:TTAN - Get Free Report) traded down 4.6% during mid-day trading on Wednesday . The company traded as low as $117.54 and last traded at $117.75. 88,960 shares changed hands during mid-day trading, a decline of 77% from the average session volume of 394,533 shares. The stock had previously closed at $123.39.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. TD Cowen assumed coverage on ServiceTitan in a research note on Tuesday, April 8th. They issued a "buy" rating and a $120.00 price target on the stock. Needham & Company LLC raised their price target on ServiceTitan from $125.00 to $140.00 and gave the stock a "buy" rating in a research note on Tuesday, April 29th. TD Securities raised their price target on ServiceTitan from $120.00 to $140.00 and gave the stock a "buy" rating in a research note on Wednesday, May 21st. Morgan Stanley raised their price target on ServiceTitan from $104.00 to $107.00 and gave the stock an "equal weight" rating in a research note on Friday, March 14th. Finally, KeyCorp lifted their target price on ServiceTitan from $120.00 to $140.00 and gave the company an "overweight" rating in a research report on Friday, April 25th. Four analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, ServiceTitan currently has an average rating of "Moderate Buy" and a consensus target price of $119.79.

ServiceTitan Price Performance

The stock's fifty day moving average price is $111.18.

Insider Buying and Selling at ServiceTitan

In other ServiceTitan news, CFO David Sherry sold 10,175 shares of the firm's stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $94.65, for a total transaction of $963,063.75. Following the sale, the chief financial officer now directly owns 325,409 shares of the company's stock, valued at $30,799,961.85. This trade represents a 3.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Michele O'connor sold 5,494 shares of ServiceTitan 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 sale, the chief accounting officer now directly owns 89,302 shares in the company, valued at $8,452,434.30. This trade represents a 5.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 51.72% of the company's stock.

Institutional Investors Weigh In On ServiceTitan

Several large investors have recently made changes to their positions in the company. Woodline Partners LP increased its holdings in shares of ServiceTitan by 4.6% in the first quarter. Woodline Partners LP now owns 2,141 shares of the company's stock worth $204,000 after purchasing an additional 95 shares during the last quarter. Alliancebernstein L.P. increased its holdings in shares of ServiceTitan by 143.1% in the first quarter. Alliancebernstein L.P. now owns 356,490 shares of the company's stock worth $33,906,000 after purchasing an additional 209,822 shares during the last quarter. Alyeska Investment Group L.P. increased its holdings in shares of ServiceTitan by 20.0% in the first quarter. Alyeska Investment Group L.P. now owns 60,000 shares of the company's stock worth $5,707,000 after purchasing an additional 10,000 shares during the last quarter. B. Metzler seel. Sohn & Co. AG bought a new stake in shares of ServiceTitan in the first quarter worth about $1,221,000. Finally, PEAK6 LLC bought a new stake in shares of ServiceTitan in the first quarter worth about $451,000.

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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