ServiceTitan Inc. (NASDAQ:TTAN - Get Free Report) was the recipient of unusually large options trading on Tuesday. Stock traders bought 4,661 put options on the stock. This is an increase of 389% compared to the typical volume of 954 put options.
Insider Transactions at ServiceTitan
In related news, CFO David Sherry sold 10,175 shares of the stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $94.65, for a total transaction of $963,063.75. Following the completion of the sale, the chief financial officer now owns 325,409 shares of the company's stock, valued at $30,799,961.85. This represents a 3.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Michele O'connor sold 5,494 shares of ServiceTitan stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $94.65, for a total transaction 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 $8,452,434.30. This represents a 5.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 51.72% of the company's stock.
Institutional Trading of ServiceTitan
Several hedge funds and other institutional investors have recently bought and sold shares of TTAN. Principal Financial Group Inc. acquired a new position in ServiceTitan in the fourth quarter valued at approximately $25,365,000. New York State Common Retirement Fund purchased a new position in shares of ServiceTitan during the 4th quarter valued at approximately $3,692,000. TimesSquare Capital Management LLC acquired a new position in shares of ServiceTitan in the 4th quarter valued at $87,896,000. SBI Securities Co. Ltd. acquired a new position in shares of ServiceTitan in the 4th quarter valued at $26,000. Finally, Victory Capital Management Inc. purchased a new stake in ServiceTitan during the fourth quarter worth $10,450,000.
ServiceTitan Price Performance
Shares of NASDAQ:TTAN traded up $0.67 during midday trading on Wednesday, reaching $103.00. The company's stock had a trading volume of 1,273,959 shares, compared to its average volume of 566,720. The firm has a fifty day moving average price of $114.26. ServiceTitan has a twelve month low of $79.81 and a twelve month high of $131.33.
ServiceTitan (NASDAQ:TTAN - Get Free Report) last announced its quarterly earnings results on Thursday, June 5th. The company reported $0.18 earnings per share 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 analyst estimates of $208.61 million. The firm's quarterly revenue was up 26.6% on a year-over-year basis. Equities analysts anticipate that ServiceTitan will post -1.98 EPS for the current fiscal year.
Wall Street Analyst Weigh In
Several research analysts recently issued reports on the company. KeyCorp upped 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. TD Cowen began coverage on shares of ServiceTitan in a research report on Tuesday, April 8th. They issued a "buy" rating and a $120.00 price objective for the company. Cowen reiterated a "buy" rating on shares of ServiceTitan in a research note on Wednesday, May 21st. Loop Capital restated a "hold" rating and set a $100.00 price target (up previously from $90.00) on shares of ServiceTitan in a research note on Friday, June 6th. Finally, Piper Sandler reaffirmed an "overweight" rating and issued a $125.00 price target on shares of ServiceTitan in a report on Friday, March 14th. Four 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 stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $122.21.
Read Our Latest Research Report on TTAN
ServiceTitan Company Profile
(
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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