ServiceTitan Inc. (NASDAQ:TTAN) Major Shareholder Sells $1,255,434.90 in Stock

ServiceTitan Inc. (NASDAQ:TTAN - Get Free Report) major shareholder Bessemer Venture Partners Viii sold 11,346 shares of the firm's stock in a transaction that occurred on Wednesday, July 9th. The stock was sold at an average price of $110.65, for a total transaction of $1,255,434.90. Following the completion of the transaction, the insider directly owned 8,059,982 shares in the company, valued at approximately $891,837,008.30. The trade was a 0.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Large shareholders that own 10% or more of a company's stock are required to disclose their transactions with the SEC.

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

• 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 shares were 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 shares were 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 shares were 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 shares were 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 shares were 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 shares were sold at an average price of $105.43, for a total transaction of $1,322,408.49.
• On Tuesday, June 10th, Bessemer Venture Partners Viii sold 500,000 shares of ServiceTitan stock. The shares were sold at an average price of $102.00, for a total transaction of $51,000,000.00.

ServiceTitan Price Performance

Shares of TTAN traded down $3.98 during mid-day trading on Friday, hitting $106.96. The company's stock had a trading volume of 748,667 shares, compared to its average volume of 1,392,689. The company has a 50-day moving average price of $112.90. ServiceTitan Inc. has a 52-week low of $79.81 and a 52-week high of $131.33. The company has a debt-to-equity ratio of 0.07, a quick ratio of 4.82 and a current ratio of 4.82.

ServiceTitan (NASDAQ:TTAN - Get Free Report) last announced its quarterly earnings results on Thursday, June 5th. The company reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.06. The business had revenue of $215.69 million during the quarter, compared to analysts' expectations of $208.61 million. The firm's revenue was up 26.6% on a year-over-year basis. Equities analysts predict that ServiceTitan Inc. will post -1.98 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Perpetual Ltd acquired a new position in ServiceTitan during the 2nd quarter valued at approximately $324,000. Woodline Partners LP increased its stake in ServiceTitan by 4.6% during the 1st quarter. Woodline Partners LP now owns 2,141 shares of the company's stock valued at $204,000 after purchasing an additional 95 shares in the last quarter. Alliancebernstein L.P. increased its stake in ServiceTitan by 143.1% during the 1st quarter. Alliancebernstein L.P. now owns 356,490 shares of the company's stock valued at $33,906,000 after purchasing an additional 209,822 shares in the last quarter. Alyeska Investment Group L.P. increased its stake in ServiceTitan by 20.0% during the 1st quarter. Alyeska Investment Group L.P. now owns 60,000 shares of the company's stock valued at $5,707,000 after purchasing an additional 10,000 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. AG acquired a new position in ServiceTitan during the 1st quarter valued at approximately $1,221,000.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on TTAN. Canaccord Genuity Group lifted their price target on shares of ServiceTitan from $120.00 to $130.00 and gave the company a "buy" rating in a report on Thursday, April 17th. Cowen reissued a "buy" rating on shares of ServiceTitan in a research note on Wednesday, May 21st. Stifel Nicolaus lifted their price objective on shares of ServiceTitan from $110.00 to $125.00 and gave the stock a "buy" rating in a research note on Friday, May 30th. TD Securities lifted their price objective on shares of ServiceTitan from $120.00 to $140.00 and gave the stock a "buy" rating in a research note on Wednesday, May 21st. Finally, KeyCorp lifted their price objective on shares of ServiceTitan from $120.00 to $140.00 and gave the stock an "overweight" rating in a research note on Friday, April 25th. Four investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $122.21.

About ServiceTitan

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.