Key Points
- ServiceTitan director Byron Deeter sold 8,845 shares at an average price of $63.35, trimming his stake by about 39% and raising investor attention on insider selling.
- The company recently reported better-than-expected quarterly results, with EPS of $0.37 versus $0.28 expected and revenue of $268.82 million, up 24.6% year over year.
- Despite mixed signals from insiders, Wall Street remains largely constructive on TTAN, with 15 Buy ratings and an average target price of $110.53, though some analysts still hold neutral or sell views.
ServiceTitan Inc. (NASDAQ:TTAN - Get Free Report) Director Byron Deeter sold 8,845 shares of the stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $63.35, for a total value of $560,330.75. Following the sale, the director owned 13,782 shares in the company, valued at approximately $873,089.70. This represents a 39.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
ServiceTitan Stock Performance
NASDAQ:TTAN opened at $63.40 on Friday. ServiceTitan Inc. has a 52-week low of $54.17 and a 52-week high of $119.99. The firm has a market cap 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 is $64.82 and its 200 day moving average is $75.66.
ServiceTitan (NASDAQ:TTAN - Get Free Report) last issued its earnings results on Thursday, June 4th. The company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.28 by $0.09. The business had revenue of $268.82 million during the quarter, compared to the consensus estimate of $257.40 million. ServiceTitan had a negative return on equity of 5.59% and a negative net margin of 13.44%.The firm's revenue was up 24.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.18 EPS. Equities analysts predict that ServiceTitan Inc. will post -0.54 EPS for the current fiscal year.
Key Headlines Impacting ServiceTitan
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
Institutional Trading of ServiceTitan
A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in ServiceTitan by 9.9% during the fourth quarter. Vanguard Group Inc. now owns 4,869,009 shares of the company's stock worth $518,549,000 after purchasing an additional 439,079 shares during the last quarter. Franklin Resources Inc. increased its position in shares of ServiceTitan by 33.8% during the 4th 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 during the last quarter. Artisan Partners Limited Partnership increased its position in shares of ServiceTitan by 47.3% during the 4th quarter. Artisan Partners Limited Partnership now owns 1,617,353 shares of the company's stock valued at $172,248,000 after purchasing an additional 519,024 shares during the last quarter. Greenoaks Capital Partners LLC raised its holdings in shares of ServiceTitan by 20.6% during the 4th quarter. Greenoaks Capital Partners LLC now owns 1,552,257 shares of the company's stock valued at $165,315,000 after buying an additional 264,926 shares in the last quarter. Finally, Capital International Investors raised its stake in shares of ServiceTitan by 23.9% during the fourth quarter. Capital International Investors now owns 1,224,699 shares of the company's stock worth $130,430,000 after acquiring an additional 236,287 shares in the last quarter.
Wall Street Analyst Weigh In
A number of analysts recently weighed in on TTAN shares. Stifel Nicolaus set a $125.00 target price on shares of ServiceTitan in a report on Wednesday, May 27th. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of ServiceTitan in a report on Friday, April 24th. Truist Financial reissued a "buy" rating and set a $110.00 price objective (up from $100.00) on shares of ServiceTitan in a research note on Friday, June 5th. Citigroup reissued a "neutral" rating on shares of ServiceTitan in a research note on Monday, June 8th. Finally, Morgan Stanley boosted their target price on ServiceTitan from $118.00 to $124.00 and gave the stock an "overweight" rating in a research report on Friday, June 5th. Fifteen investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $110.53.
Read Our Latest Report on TTAN
About ServiceTitan
(
Get Free Report)
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.
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