ServiceTitan (NASDAQ:TTAN) CEO Ara Mahdessian Sells 88,525 Shares

by · The Cerbat Gem

ServiceTitan Inc. (NASDAQ:TTAN – Get Free Report) CEO Ara Mahdessian sold 88,525 shares of the business’s stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $107.56, for a total value of $9,521,749.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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

  • On Thursday, December 11th, Ara Mahdessian sold 42,666 shares of ServiceTitan stock. The stock was sold at an average price of $106.85, for a total value of $4,558,862.10.
  • On Thursday, November 6th, Ara Mahdessian sold 46,542 shares of ServiceTitan stock. The shares were sold at an average price of $91.40, for a total value of $4,253,938.80.
  • On Thursday, November 6th, Ara Mahdessian sold 46,542 shares of ServiceTitan stock. The stock was sold at an average price of $91.40, for a total value of $4,253,938.80.
  • On Wednesday, November 5th, Ara Mahdessian sold 14,263 shares of ServiceTitan stock. The shares were sold at an average price of $91.72, for a total value of $1,308,202.36.
  • On Wednesday, November 5th, Ara Mahdessian sold 14,263 shares of ServiceTitan stock. The shares were sold at an average price of $91.72, for a total value of $1,308,202.36.
  • On Monday, October 13th, Ara Mahdessian sold 32,000 shares of ServiceTitan stock. The stock was sold at an average price of $97.85, for a total transaction of $3,131,200.00.
  • On Wednesday, September 17th, Ara Mahdessian sold 3,059 shares of ServiceTitan stock. The shares were sold at an average price of $116.04, for a total transaction of $354,966.36.

ServiceTitan Stock Down 0.9%

Shares of TTAN stock traded down $0.94 during trading on Thursday, reaching $106.03. The company’s stock had a trading volume of 1,071,405 shares, compared to its average volume of 865,933. ServiceTitan Inc. has a 1-year low of $79.81 and a 1-year high of $131.33. The stock’s 50-day moving average price is $94.81 and its 200 day moving average price is $104.23. The company has a market capitalization of $9.86 billion and a price-to-earnings ratio of -25.99. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.49 and a quick ratio of 4.49.

ServiceTitan (NASDAQ:TTAN – Get Free Report) last posted its quarterly earnings results on Thursday, December 4th. The company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.15 by $0.09. The business had revenue of $249.16 million during the quarter, compared to the consensus estimate of $238.26 million. ServiceTitan had a negative net margin of 23.91% and a negative return on equity of 11.03%. The company’s quarterly revenue was up 25.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.75 earnings per share. On average, research analysts anticipate that ServiceTitan Inc. will post -1.98 EPS for the current year.

Institutional Investors Weigh In On ServiceTitan

Several hedge funds have recently made changes to their positions in TTAN. Vanguard Group Inc. increased its position in ServiceTitan by 538.4% in the 3rd quarter. Vanguard Group Inc. now owns 4,429,930 shares of the company’s stock valued at $446,670,000 after acquiring an additional 3,735,968 shares during the period. JPMorgan Chase & Co. grew its stake in shares of ServiceTitan by 118.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,893,959 shares of the company’s stock valued at $291,798,000 after purchasing an additional 1,569,136 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of ServiceTitan by 1.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,306,168 shares of the company’s stock valued at $219,341,000 after purchasing an additional 32,066 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its holdings in shares of ServiceTitan by 1,545.2% in the first 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 during the period. Finally, Franklin Resources Inc. raised its stake in shares of ServiceTitan by 148.4% during the second quarter. Franklin Resources Inc. now owns 1,893,237 shares of the company’s stock worth $202,917,000 after purchasing an additional 1,131,062 shares during the last quarter.

Analysts Set New Price Targets

TTAN has been the subject of several recent research reports. Loop Capital upgraded ServiceTitan from a “hold” rating to a “buy” rating and lifted their price objective for the company from $100.00 to $140.00 in a research note on Monday, August 18th. Stifel Nicolaus raised their target price on shares of ServiceTitan from $135.00 to $145.00 and gave the company a “buy” rating in a report on Friday, September 19th. Wells Fargo & Company boosted their price target on shares of ServiceTitan from $130.00 to $140.00 and gave the stock an “overweight” rating in a report on Friday, September 19th. Robert W. Baird raised their price objective on shares of ServiceTitan from $124.00 to $130.00 and gave the company an “outperform” rating in a report on Friday, September 5th. Finally, TD Cowen increased their target price on ServiceTitan from $150.00 to $160.00 and gave the company a “buy” rating in a report on Friday, December 5th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, ServiceTitan currently has a consensus rating of “Moderate Buy” and an average target price of $134.53.

Get Our Latest Stock Report on ServiceTitan

ServiceTitan Company Profile

(Get Free Report)

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.

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