Insider Selling: ServiceTitan (NASDAQ:TTAN) CEO Sells 2,288 Shares of Stock
by Sarita Garza · The Markets DailyServiceTitan Inc. (NASDAQ:TTAN – Get Free Report) CEO Ara Mahdessian sold 2,288 shares of ServiceTitan stock in a transaction on Wednesday, March 18th. The stock was sold at an average price of $69.86, for a total value of $159,839.68. Following the completion of the sale, the chief executive officer directly owned 1 shares of the company’s stock, valued at $69.86. The trade was a 99.96% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
Ara Mahdessian also recently made the following trade(s):
- On Wednesday, January 14th, Ara Mahdessian sold 32,000 shares of ServiceTitan stock. The shares were sold at an average price of $98.50, for a total value of $3,152,000.00.
ServiceTitan Stock Performance
NASDAQ:TTAN traded down $0.23 on Thursday, hitting $68.51. The stock had a trading volume of 895,801 shares, compared to its average volume of 1,539,336. The stock has a market cap of $6.42 billion, a price-to-earnings ratio of -39.83 and a beta of -0.72. The company has a quick ratio of 4.14, a current ratio of 4.14 and a debt-to-equity ratio of 0.07. The business’s 50-day simple moving average is $77.46 and its two-hundred day simple moving average is $92.74. ServiceTitan Inc. has a 52-week low of $58.01 and a 52-week high of $131.33.
ServiceTitan (NASDAQ:TTAN – Get Free Report) last released its quarterly earnings results on Thursday, March 12th. The company reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.09. ServiceTitan had a negative return on equity of 6.91% and a negative net margin of 16.64%.The business had revenue of $253.99 million during the quarter, compared to the consensus estimate of $245.47 million. During the same period in the previous year, the company posted $0.12 EPS. The business’s quarterly revenue was up 21.4% compared to the same quarter last year. As a group, research analysts predict that ServiceTitan Inc. will post -1.98 earnings per share for the current year.
Wall Street Analysts Forecast Growth
A number of analysts have commented on TTAN shares. UBS Group reaffirmed a “buy” rating on shares of ServiceTitan in a report on Monday, December 1st. BTIG Research dropped their price target on shares of ServiceTitan from $130.00 to $105.00 and set a “buy” rating on the stock in a research note on Thursday, March 12th. Citigroup cut their price objective on shares of ServiceTitan from $117.00 to $88.00 and set a “neutral” rating for the company in a research report on Friday, March 13th. Canaccord Genuity Group reduced their price objective on ServiceTitan from $140.00 to $105.00 and set a “buy” rating for the company in a research note on Friday, March 13th. Finally, Morgan Stanley decreased their target price on ServiceTitan from $131.00 to $118.00 and set an “overweight” rating on the stock in a report on Friday, March 13th. Sixteen research 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’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $113.56.
Get Our Latest Stock Analysis on TTAN
Institutional Investors Weigh In On ServiceTitan
Several hedge funds and other institutional investors have recently added to or reduced their stakes in TTAN. Rockefeller Capital Management L.P. raised its stake in ServiceTitan by 758.3% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,811 shares of the company’s stock worth $193,000 after acquiring an additional 1,600 shares during the period. Sunbelt Securities Inc. lifted its holdings in ServiceTitan by 391.0% during the fourth quarter. Sunbelt Securities Inc. now owns 491 shares of the company’s stock valued at $52,000 after purchasing an additional 391 shares in the last quarter. Axxcess Wealth Management LLC bought a new position in shares of ServiceTitan in the fourth quarter worth approximately $229,000. Vident Advisory LLC increased its stake in shares of ServiceTitan by 63.9% in the fourth quarter. Vident Advisory LLC now owns 4,824 shares of the company’s stock worth $514,000 after purchasing an additional 1,881 shares in the last quarter. Finally, Beacon Pointe Advisors LLC purchased a new stake in shares of ServiceTitan in the fourth quarter worth $281,000.
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.