ServiceTitan Inc. (NASDAQ:TTAN) Major Shareholder Bessemer Venture Partners Viii Sells 84,942 Shares

ServiceTitan Inc. (NASDAQ:TTAN) major shareholder Bessemer Venture Partners Viii sold 84,942 shares of the firm’s stock in a transaction that occurred on Thursday, July 10th. The shares were sold at an average price of $111.41, for a total transaction of $9,463,388.22. Following the completion of the sale, the insider owned 7,975,040 shares in the company, valued at approximately $888,499,206.40. The trade was a 1.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Bessemer Venture Partners Viii also recently made the following trade(s):

• On Friday, July 11th, Bessemer Venture Partners Viii sold 8,706 shares of ServiceTitan stock. The stock was sold at an average price of $110.24, for a total transaction of $959,749.44.
• On Wednesday, July 9th, Bessemer Venture Partners Viii sold 11,346 shares of ServiceTitan stock. The stock was sold at an average price of $110.65, for a total transaction of $1,255,434.90.
• On Tuesday, July 8th, Bessemer Venture Partners Viii sold 879 shares of ServiceTitan stock. The stock was sold at an average price of $110.54, for a total transaction of $97,164.66.
• On Thursday, July 3rd, Bessemer Venture Partners Viii sold 58,133 shares of ServiceTitan stock. The stock was sold at an average price of $111.00, for a total transaction of $6,452,763.00.
• On Wednesday, July 2nd, Bessemer Venture Partners Viii sold 10,411 shares of ServiceTitan stock. The stock was sold at an average price of $110.60, for a total transaction of $1,151,456.60.
• On Monday, June 30th, Bessemer Venture Partners Viii sold 107,152 shares of ServiceTitan stock. The stock was sold at an average price of $108.59, for a total transaction of $11,635,635.68.
• On Friday, June 27th, Bessemer Venture Partners Viii sold 118,125 shares of ServiceTitan stock. The stock was sold at an average price of $107.45, for a total transaction of $12,692,531.25.
• On Thursday, June 26th, Bessemer Venture Partners Viii sold 125,000 shares of ServiceTitan stock. The stock was sold at an average price of $105.87, for a total transaction of $13,233,750.00.
• On Wednesday, June 25th, Bessemer Venture Partners Viii sold 12,543 shares of ServiceTitan stock. The stock was sold at an average price of $105.43, for a total value of $1,322,408.49.
• On Tuesday, June 10th, Bessemer Venture Partners Viii sold 500,000 shares of ServiceTitan stock. The stock was sold at an average price of $102.00, for a total value of $51,000,000.00.

ServiceTitan Stock Performance

NASDAQ TTAN opened at $108.15 on Tuesday. ServiceTitan Inc. has a 52-week low of $79.81 and a 52-week high of $131.33. The stock’s 50-day moving average is $112.90. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.82 and a quick ratio of 4.82.

ServiceTitan (NASDAQ:TTAN) last posted its quarterly earnings data on Thursday, June 5th. The company reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.06. The company had revenue of $215.69 million for the quarter, compared to analysts’ expectations of $208.61 million. The business’s revenue was up 26.6% compared to the same quarter last year. As a group, analysts anticipate that ServiceTitan Inc. will post -1.98 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms recently issued reports on TTAN. Morgan Stanley boosted their target price on shares of ServiceTitan from $107.00 to $109.00 and gave the company an “equal weight” rating in a research report on Friday, June 6th. TD Cowen began coverage on shares of ServiceTitan in a research report on Tuesday, April 8th. They set a “buy” rating and a $120.00 target price on the stock. Loop Capital reiterated a “hold” rating and set a $100.00 target price (up previously from $90.00) on shares of ServiceTitan in a research report on Friday, June 6th. KeyCorp boosted their target price on shares of ServiceTitan from $120.00 to $140.00 and gave the company an “overweight” rating in a research report on Friday, April 25th. Finally, Canaccord Genuity Group boosted their price target on shares of ServiceTitan from $120.00 to $130.00 and gave the company a “buy” rating in a research note on Thursday, April 17th. Four investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $122.21.

Hedge Funds Weigh In On ServiceTitan

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TTAN. Assetmark Inc. bought a new position in ServiceTitan during the fourth quarter worth about $67,000. Avantax Advisory Services Inc. bought a new position in ServiceTitan during the fourth quarter worth about $227,000. Virtu Financial LLC bought a new position in ServiceTitan during the fourth quarter worth about $473,000. Sei Investments Co. bought a new position in ServiceTitan during the fourth quarter worth about $1,593,000. Finally, Vanguard Group Inc. bought a new position in ServiceTitan during the fourth quarter worth about $57,349,000.

ServiceTitan Company Profile

ServiceTitan, Inc engages in the collection of field service activities required to install, maintain, and service the infrastructure and systems of residences and commercial buildings. The company was founded by Ara Mahdessian and Vahe Kuzoyan on June 8, 2008 and is headquartered in Glendale, CA.