Ara Mahdessian Sells 51,947 Shares of ServiceTitan (NASDAQ:TTAN) Stock

ServiceTitan Inc. (NASDAQ:TTAN) CEO Ara Mahdessian sold 51,947 shares of the firm’s stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $80.98, for a total transaction of $4,206,668.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Ara Mahdessian also recently made the following trade(s):

• On Wednesday, June 17th, Ara Mahdessian sold 3,028 shares of ServiceTitan stock. The stock was sold at an average price of $66.19, for a total transaction of $200,423.32.

ServiceTitan Stock Up 1.8%

Shares of TTAN opened at $79.44 on Friday. The company has a market cap of $7.58 billion, a P/E ratio of -54.79 and a beta of 0.13. ServiceTitan Inc. has a fifty-two week low of $54.17 and a fifty-two week high of $119.99. The firm’s 50 day moving average price is $67.36 and its 200 day moving average price is $73.48.

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

Institutional Investors Weigh In On ServiceTitan

Several hedge funds have recently modified their holdings of the company. Toth Financial Advisory Corp raised its position in shares of ServiceTitan by 150.0% in the fourth quarter. Toth Financial Advisory Corp now owns 250 shares of the company’s stock valued at $27,000 after buying an additional 150 shares during the last quarter. Farther Finance Advisors LLC boosted its position in ServiceTitan by 189.1% during the fourth quarter. Farther Finance Advisors LLC now owns 266 shares of the company’s stock worth $28,000 after acquiring an additional 174 shares during the last quarter. eCIO Inc. purchased a new stake in ServiceTitan in the 4th quarter worth approximately $30,000. Elevation Wealth Partners LLC acquired a new position in ServiceTitan in the 4th quarter valued at $36,000. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in shares of ServiceTitan by 1,005.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 431 shares of the company’s stock worth $46,000 after purchasing an additional 392 shares during the period.

Analyst Ratings Changes

A number of analysts have issued reports on TTAN shares. Citigroup reaffirmed a “neutral” rating on shares of ServiceTitan in a report on Monday, June 8th. Piper Sandler upped their price target on shares of ServiceTitan from $100.00 to $115.00 and gave the company an “overweight” rating in a research report on Friday, June 5th. Wells Fargo & Company decreased their price objective on ServiceTitan from $125.00 to $115.00 and set an “overweight” rating for the company in a research report on Friday, March 13th. TD Cowen raised their target price on shares of ServiceTitan from $110.00 to $125.00 and gave the stock a “buy” rating in a research note on Friday, June 5th. Finally, Stifel Nicolaus set a $125.00 price target on ServiceTitan in a report on Wednesday, May 27th. Fifteen research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, ServiceTitan has an average rating of “Moderate Buy” and a consensus target price of $110.53.

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.