Insider Selling: ServiceTitan Inc. (NASDAQ:TTAN) President Sells 24,598 Shares of Stock

Key Points

• Vahe Kuzoyan, President of ServiceTitan Inc., sold a total of 49,388 shares of the company's stock across two transactions in early August, with the total sales amounting to approximately $5.5 million.
• ServiceTitan's stock, trading under NASDAQ: TTAN, increased by 1.0% during midday trading, reaching a price of $112.94.
• The company reported quarterly earnings of $0.18 per share, surpassing analysts' expectations and reflecting a 26.6% increase in revenue year-over-year.

ServiceTitan Inc. (NASDAQ:TTAN - Get Free Report) President Vahe Kuzoyan sold 24,598 shares of the business's stock in a transaction on Monday, August 4th. The shares were sold at an average price of $114.46, for a total transaction of $2,815,487.08. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Vahe Kuzoyan also recently made the following trade(s):

• On Tuesday, August 5th, Vahe Kuzoyan sold 24,582 shares of ServiceTitan stock. The stock was sold at an average price of $112.02, for a total transaction of $2,753,675.64.
• On Thursday, June 26th, Vahe Kuzoyan sold 25,208 shares of ServiceTitan stock. The stock was sold at an average price of $104.65, for a total transaction of $2,638,017.20.

ServiceTitan Stock Down 7.1%

Shares of TTAN stock traded down $7.80 on Friday, hitting $102.31. 1,273,216 shares of the company's stock traded hands, compared to its average volume of 678,694. ServiceTitan Inc. has a one year low of $79.81 and a one year high of $131.33. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.82 and a quick ratio of 4.82. The company's fifty day simple moving average is $109.95 and its 200 day simple moving average is $106.51.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on TTAN shares. KeyCorp set a $140.00 price target on shares of ServiceTitan and gave the stock an "overweight" rating in a report on Wednesday, July 16th. TD Securities increased their price target on shares of ServiceTitan from $120.00 to $140.00 and gave the stock a "buy" rating in a report on Wednesday, May 21st. Morgan Stanley increased their price target 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. Loop Capital reissued a "hold" rating and issued a $100.00 price target (up previously from $90.00) on shares of ServiceTitan in a report on Friday, June 6th. Finally, Piper Sandler reissued an "overweight" rating and issued a $150.00 price target (up previously from $125.00) on shares of ServiceTitan in a report on Tuesday, July 22nd. Four research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $124.00.

Institutional Investors Weigh In On ServiceTitan

A number of large investors have recently added to or reduced their stakes in TTAN. Deer Management Co. LLC bought a new stake in ServiceTitan in the 4th quarter worth $925,943,000. TPG GP A LLC bought a new stake in ServiceTitan in the 4th quarter worth $525,405,000. Price T Rowe Associates Inc. MD bought a new stake in ServiceTitan in the 4th quarter worth $233,937,000. Dragoneer Investment Group LLC purchased a new stake in shares of ServiceTitan in the 4th quarter worth about $210,777,000. Finally, Kayne Anderson Rudnick Investment Management LLC boosted its stake in shares of ServiceTitan by 1,545.2% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,055,736 shares of the company's stock valued at $195,521,000 after purchasing an additional 1,930,779 shares in the last quarter.

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.