Stock Traders Buy Large Volume of ServiceTitan Call Options (NASDAQ:TTAN)

ServiceTitan Inc. (NASDAQ:TTAN) was the target of unusually large options trading activity on Tuesday. Stock investors acquired 15,381 call options on the company. This is an increase of 1,089% compared to the typical volume of 1,294 call options.

ServiceTitan Stock Performance

NASDAQ:TTAN opened at $77.90 on Wednesday. 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 company has a market cap of $7.30 billion, a P/E ratio of -19.09 and a beta of -0.72. ServiceTitan has a fifty-two week low of $58.01 and a fifty-two week high of $131.33. The firm’s 50 day moving average is $81.21 and its two-hundred day moving average is $94.04.

Wall Street Analyst Weigh In

TTAN has been the topic of a number of analyst reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of ServiceTitan in a research note on Monday, December 29th. The Goldman Sachs Group initiated coverage on shares of ServiceTitan in a research note on Tuesday, January 13th. They issued a “neutral” rating and a $117.00 target price for the company. Wells Fargo & Company reduced their target price on shares of ServiceTitan from $140.00 to $125.00 and set an “overweight” rating on the stock in a report on Wednesday, February 4th. Piper Sandler decreased their price target on shares of ServiceTitan from $140.00 to $120.00 and set an “overweight” rating on the stock in a research note on Monday, February 2nd. Finally, KeyCorp reiterated an “overweight” rating on shares of ServiceTitan in a report on Tuesday, December 16th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $132.06.

Insider Buying and Selling

In related news, President Vahe Kuzoyan sold 16,388 shares of the company’s stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $102.82, for a total value of $1,685,014.16. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Ara Mahdessian sold 42,666 shares of the stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $106.85, for a total value of $4,558,862.10. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 127,846 shares of company stock valued at $13,179,245. 51.72% of the stock is currently owned by company insiders.

Institutional Trading of ServiceTitan

A number of institutional investors and hedge funds have recently made changes to their positions in TTAN. Vanguard Group Inc. grew its stake in shares of ServiceTitan by 538.4% in the third quarter. Vanguard Group Inc. now owns 4,429,930 shares of the company’s stock valued at $446,670,000 after buying an additional 3,735,968 shares in the last quarter. Truist Financial Corp lifted its position in ServiceTitan by 84.3% during the 3rd quarter. Truist Financial Corp now owns 42,789 shares of the company’s stock worth $4,314,000 after acquiring an additional 19,577 shares in the last quarter. Thornburg Investment Management Inc. acquired a new position in ServiceTitan during the 3rd quarter worth approximately $8,338,000. Rakuten Investment Management Inc. purchased a new position in ServiceTitan in the 3rd quarter worth approximately $5,376,000. Finally, Sandhill Capital Partners LLC purchased a new position in ServiceTitan in the 3rd quarter worth approximately $27,062,000.

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.