Insider Selling: ServiceTitan (NASDAQ:TTAN) Director Sells $560,330.75 in Stock

ServiceTitan Inc. (NASDAQ:TTAN) Director Byron Deeter sold 8,845 shares of the stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $63.35, for a total transaction of $560,330.75. Following the completion of the sale, the director directly owned 13,782 shares in the company, valued at approximately $873,089.70. This represents a 39.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

ServiceTitan Price Performance

ServiceTitan stock opened at $69.20 on Friday. The firm has a market capitalization of $6.60 billion, a P/E ratio of -47.72 and a beta of 0.13. ServiceTitan Inc. has a 1-year low of $54.17 and a 1-year high of $119.99. The company’s 50-day moving average is $64.96 and its 200 day moving average is $75.61.

ServiceTitan (NASDAQ:TTAN) last announced its earnings results on Thursday, June 4th. The company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.09. The business had revenue of $268.82 million during the quarter, compared to analyst estimates of $257.40 million. ServiceTitan had a negative return on equity of 5.59% and a negative net margin of 13.44%.The company’s revenue for the quarter was up 24.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.18 earnings per share. Research analysts anticipate that ServiceTitan Inc. will post -0.54 earnings per share for the current fiscal year.

Institutional Trading of ServiceTitan

Several institutional investors and hedge funds have recently made changes to their positions in TTAN. Vanguard Group Inc. grew its holdings in ServiceTitan by 538.4% during the 3rd quarter. Vanguard Group Inc. now owns 4,429,930 shares of the company’s stock worth $446,670,000 after acquiring an additional 3,735,968 shares in the last quarter. Norges Bank bought a new stake in shares of ServiceTitan in the 4th quarter valued at about $112,678,000. CIBC Bancorp USA Inc. purchased a new stake in shares of ServiceTitan in the 3rd quarter worth approximately $84,983,000. Fuller & Thaler Asset Management Inc. purchased a new stake in shares of ServiceTitan in the 4th quarter worth approximately $89,702,000. Finally, First Trust Advisors LP boosted its stake in shares of ServiceTitan by 2,401.9% during the third quarter. First Trust Advisors LP now owns 670,883 shares of the company’s stock valued at $67,645,000 after purchasing an additional 644,068 shares in the last quarter.

Analyst Upgrades and Downgrades

Several equities analysts have commented on TTAN shares. TD Cowen upped their price objective on ServiceTitan from $110.00 to $125.00 and gave the company a “buy” rating in a research report on Friday, June 5th. KeyCorp reissued an “overweight” rating on shares of ServiceTitan in a research note on Tuesday, May 26th. BTIG Research upped their price target on shares of ServiceTitan from $90.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, June 5th. Piper Sandler raised their price target on shares of ServiceTitan from $100.00 to $115.00 and gave the stock an “overweight” rating in a research note on Friday, June 5th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of ServiceTitan in a report on Friday, April 24th. Fifteen investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, ServiceTitan currently has a consensus rating of “Moderate Buy” and a consensus price target of $110.53.

About ServiceTitan

ServiceTitan, Inc (NASDAQ: TTAN) is a cloud-based software provider specializing in end-to-end business management solutions for residential and commercial trade contractors. The company’s platform integrates customer relationship management, scheduling and dispatch, mobile workforce management, invoicing, payments and reporting tools into a single suite. By automating key back-office processes, ServiceTitan helps field service businesses improve operational efficiency, enhance customer experience and drive revenue growth.

At the core of ServiceTitan’s offering is a mobile application that allows technicians to access job details, update work orders, capture signatures and process payments from the field.