Insider Selling: ServiceTitan (NASDAQ:TTAN) CFO Sells 23,246 Shares of Stock

by · The Markets Daily

ServiceTitan Inc. (NASDAQ:TTAN – Get Free Report) CFO David Sherry sold 23,246 shares of the company’s stock in a transaction on Thursday, September 17th. The stock was sold at an average price of $57.07, for a total transaction of $1,326,649.22. Following the transaction, the chief financial officer owned 363,511 shares of the company’s stock, valued at $20,745,572.77. This represents a 6.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

David Sherry also recently made the following trade(s):

  • On Friday, August 14th, David Sherry sold 9,000 shares of ServiceTitan stock. The shares were sold at an average price of $90.83, for a total transaction of $817,470.00.

ServiceTitan Stock Up 2.7%

Shares of NASDAQ TTAN traded up $1.49 during trading on Monday, hitting $56.53. The company had a trading volume of 5,388,843 shares, compared to its average volume of 3,702,489. The stock has a fifty day simple moving average of $80.79 and a two-hundred day simple moving average of $71.90. ServiceTitan Inc. has a fifty-two week low of $53.00 and a fifty-two week high of $115.92. The firm has a market capitalization of $5.45 billion, a price-to-earnings ratio of -41.57 and a beta of 0.11.

ServiceTitan (NASDAQ:TTAN – Get Free Report) last released its quarterly earnings results on Tuesday, September 8th. The company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.05. The firm had revenue of $292.76 million during the quarter, compared to the consensus estimate of $285.89 million. ServiceTitan had a negative net margin of 12.12% and a negative return on equity of 5.65%. The company’s revenue for the quarter was up 20.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.33 EPS. On average, analysts anticipate that ServiceTitan Inc. will post -0.53 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Tidal Investments LLC increased its stake in shares of ServiceTitan by 598.9% during the second quarter. Tidal Investments LLC now owns 27,963 shares of the company’s stock worth $1,977,000 after buying an additional 23,962 shares during the period. Whetstone Capital Advisors LLC acquired a new position in shares of ServiceTitan during the second quarter worth $3,275,000. WINTON GROUP Ltd acquired a new position in shares of ServiceTitan during the second quarter worth $5,218,000. Integrated Wealth Concepts LLC purchased a new position in ServiceTitan in the second quarter valued at $115,000. Finally, NewEdge Advisors LLC increased its holdings in ServiceTitan by 7,677.2% in the second quarter. NewEdge Advisors LLC now owns 8,866 shares of the company’s stock valued at $627,000 after buying an additional 8,752 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Canaccord Genuity Group decreased their price target on ServiceTitan from $105.00 to $90.00 and set a “buy” rating on the stock in a research note on Wednesday, September 9th. TD Cowen decreased their target price on ServiceTitan from $125.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, September 9th. Robert W. Baird lowered their target price on ServiceTitan from $101.00 to $85.00 and set an “outperform” rating for the company in a report on Wednesday, September 9th. Wells Fargo & Company dropped their target price on ServiceTitan from $115.00 to $105.00 and set an “overweight” rating for the company in a research report on Wednesday, September 9th. Finally, Weiss Ratings lowered shares of ServiceTitan from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, September 9th. Fourteen research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $96.38.

Read Our Latest Stock Analysis on TTAN

About ServiceTitan

(Get Free Report)

ServiceTitan, Inc develops cloud-based software designed to help residential and commercial contractors manage and grow their businesses. Its platform supports trades such as heating, ventilation and air conditioning, plumbing, electrical, roofing, and other field-service industries.

The company’s products and services cover key business functions, including customer relationship management, lead generation, scheduling and dispatching, estimates, job management, invoicing, payments, financing, payroll, and business analytics.

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