ServiceTitan CEO Ara Mahdessian sold 3,147 shares for $180,000 on Sept. 17 in a required “sell to cover” transaction for taxes on vested restricted stock units. He retained about 8.7 million derivative shares; the stock hit a 52-week low the next day.
The Form 4 lists a weighted-average sale price of $57.07 per share; ServiceTitan closed at $54.25 on Sept. 17. Its one-year total return was down 52% as of the transaction date.
ServiceTitan’s fiscal second-quarter revenue rose 21% year over year to $292.8 million for the quarter ended July 31, but its $285 million to $287 million fiscal third-quarter sales forecast missed Wall Street expectations. The company reported a $24.9 million net loss for the quarter.
