Iconiq Strategic Partners V, L Sells 94,415 Shares of ServiceTitan (NASDAQ:TTAN) Stock

ServiceTitan Inc. (NASDAQ:TTAN) major shareholder Iconiq Strategic Partners V, L sold 94,415 shares of ServiceTitan stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of $63.43, for a total value of $5,988,743.45. Following the sale, the insider directly owned 443,221 shares of the company’s stock, valued at approximately $28,113,508.03. The trade was a 17.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Iconiq Strategic Partners V, L also recently made the following trade(s):

• On Monday, June 22nd, Iconiq Strategic Partners V, L sold 115 shares of ServiceTitan stock. The shares were sold at an average price of $63.01, for a total value of $7,246.15.
• On Monday, June 22nd, Iconiq Strategic Partners V, L sold 85 shares of ServiceTitan stock. The stock was sold at an average price of $63.01, for a total value of $5,355.85.

ServiceTitan Price Performance

TTAN stock opened at $63.40 on Friday. ServiceTitan Inc. has a fifty-two week low of $54.17 and a fifty-two week high of $119.99. The stock has a market capitalization of $6.05 billion, a price-to-earnings ratio of -43.72 and a beta of 0.13. The business’s fifty day moving average price is $64.82 and its two-hundred day moving average price is $75.66.

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 analysts’ consensus estimates of $0.28 by $0.09. ServiceTitan had a negative net margin of 13.44% and a negative return on equity of 5.59%. The company had revenue of $268.82 million during the quarter, compared to analysts’ expectations of $257.40 million. During the same quarter in the previous year, the business posted $0.18 earnings per share. ServiceTitan’s quarterly revenue was up 24.6% on a year-over-year basis. Research analysts expect that ServiceTitan Inc. will post -0.54 EPS for the current year.

Analyst Ratings Changes

TTAN has been the subject of a number of analyst reports. Stifel Nicolaus set a $125.00 price target on shares of ServiceTitan in a research report on Wednesday, May 27th. BTIG Research raised their price objective on ServiceTitan from $90.00 to $110.00 and gave the stock a “buy” rating in a research note on Friday, June 5th. TD Cowen lifted their price objective on ServiceTitan from $110.00 to $125.00 and gave the company a “buy” rating in a report on Friday, June 5th. Needham & Company LLC reiterated a “buy” rating and set a $100.00 target price on shares of ServiceTitan in a research report on Wednesday, June 17th. Finally, Wells Fargo & Company reduced their target price on ServiceTitan from $125.00 to $115.00 and set an “overweight” rating on the stock in a report on Friday, March 13th. Fifteen research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, ServiceTitan has a consensus rating of “Moderate Buy” and an average price target of $110.53.

Institutional Trading of ServiceTitan

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of ServiceTitan by 9.9% during the 4th quarter. Vanguard Group Inc. now owns 4,869,009 shares of the company’s stock worth $518,549,000 after acquiring an additional 439,079 shares in the last quarter. Franklin Resources Inc. raised its position in ServiceTitan by 33.8% during the fourth quarter. Franklin Resources Inc. now owns 2,014,025 shares of the company’s stock valued at $214,494,000 after purchasing an additional 508,848 shares in the last quarter. Artisan Partners Limited Partnership lifted its stake in ServiceTitan by 47.3% during the fourth quarter. Artisan Partners Limited Partnership now owns 1,617,353 shares of the company’s stock worth $172,248,000 after purchasing an additional 519,024 shares during the last quarter. Greenoaks Capital Partners LLC lifted its stake in ServiceTitan by 20.6% during the fourth quarter. Greenoaks Capital Partners LLC now owns 1,552,257 shares of the company’s stock worth $165,315,000 after purchasing an additional 264,926 shares during the last quarter. Finally, Capital International Investors boosted its holdings in shares of ServiceTitan by 23.9% in the 4th quarter. Capital International Investors now owns 1,224,699 shares of the company’s stock valued at $130,430,000 after purchasing an additional 236,287 shares in the last quarter.

ServiceTitan News Summary

Here are the key news stories impacting ServiceTitan this week:

• Positive Sentiment: ServiceTitan highlighted early results from its Max platform, saying the AI-powered product is helping automate and improve multiple parts of the contractor workflow, including lead generation, dispatch, field execution, and technician revenue. ServiceTitan’s Max Drives AI-Powered Growth for Contractors
• Neutral Sentiment: The company said short interest data was essentially unchanged at 0 shares, so there is no meaningful short-selling signal from the latest report.
• Negative Sentiment: Director Byron B. Deeter sold 8,845 shares, reducing his stake by about 39%, adding to investor concern around insider confidence. SEC filing
• Negative Sentiment: Major shareholder Iconiq Strategic Partners V, L sold 94,415 shares, a 17.6% reduction in its position, which may pressure sentiment toward TTAN. SEC filing
• Negative Sentiment: Director William J.G. Griffith also sold shares, adding to the pattern of insider selling around ServiceTitan stock. SEC filing

ServiceTitan Company Profile

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.