Envestnet Asset Management Inc. Has $19.26 Million Stake in ServiceTitan Inc. $TTAN

Envestnet Asset Management Inc. grew its stake in shares of ServiceTitan Inc. (NASDAQ:TTAN) by 48.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 190,976 shares of the company’s stock after buying an additional 62,466 shares during the period. Envestnet Asset Management Inc. owned approximately 0.21% of ServiceTitan worth $19,256,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Cloud Capital Management LLC bought a new stake in shares of ServiceTitan in the third quarter worth about $25,000. Northwestern Mutual Wealth Management Co. grew its position in shares of ServiceTitan by 1,005.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 431 shares of the company’s stock valued at $46,000 after purchasing an additional 392 shares during the period. Whittier Trust Co. bought a new stake in ServiceTitan during the 3rd quarter worth approximately $52,000. PNC Financial Services Group Inc. acquired a new stake in ServiceTitan during the 2nd quarter worth approximately $79,000. Finally, EverSource Wealth Advisors LLC bought a new position in ServiceTitan in the second quarter valued at approximately $94,000.

Insider Buying and Selling at ServiceTitan

In other news, CAO Michele O’connor sold 1,678 shares of the company’s stock in a transaction on Wednesday, December 17th. The shares were sold at an average price of $105.30, for a total value of $176,693.40. Following the completion of the sale, the chief accounting officer owned 89,571 shares in the company, valued at $9,431,826.30. This represents a 1.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, President Vahe Kuzoyan sold 16,388 shares of ServiceTitan stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $100.62, for a total transaction of $1,648,960.56. Following the completion of the sale, the president directly owned 1 shares in the company, valued at approximately $100.62. This represents a 99.99% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 217,204 shares of company stock worth $22,772,799. Company insiders own 51.72% of the company’s stock.

ServiceTitan Trading Up 2.5%

Shares of ServiceTitan stock opened at $62.74 on Friday. The company has a quick ratio of 4.14, a current ratio of 4.14 and a debt-to-equity ratio of 0.07. ServiceTitan Inc. has a 12-month low of $58.01 and a 12-month high of $131.33. The company has a market capitalization of $5.88 billion, a price-to-earnings ratio of -15.38 and a beta of -0.86. The firm’s 50-day moving average price is $93.53 and its two-hundred day moving average price is $98.41.

ServiceTitan (NASDAQ:TTAN) last released its quarterly earnings data on Thursday, December 4th. The company reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $0.09. The business had revenue of $249.16 million during the quarter, compared to analysts’ expectations of $238.26 million. ServiceTitan had a negative net margin of 23.91% and a negative return on equity of 10.96%. The firm’s quarterly revenue was up 25.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.75 EPS. On average, analysts forecast that ServiceTitan Inc. will post -1.98 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on TTAN. UBS Group reaffirmed a “buy” rating on shares of ServiceTitan in a research report on Monday, December 1st. BMO Capital Markets increased their target price on shares of ServiceTitan from $115.00 to $125.00 and gave the stock an “outperform” rating in a report on Friday, December 5th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of ServiceTitan in a research report on Monday, December 29th. Piper Sandler cut their price target on shares of ServiceTitan from $140.00 to $120.00 and set an “overweight” rating on the stock in a research report on Monday, February 2nd. Finally, Truist Financial set a $130.00 price objective on shares of ServiceTitan in a research note on Tuesday, October 21st. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $133.13.

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.