Bessemer Venture Partners Viii Sells 125,000 Shares of ServiceTitan Inc. (NASDAQ:TTAN) Stock

ServiceTitan Inc. (NASDAQ:TTAN - Get Free Report) major shareholder Bessemer Venture Partners Viii sold 125,000 shares of ServiceTitan stock in a transaction dated Thursday, June 26th. The shares were sold at an average price of $105.87, for a total transaction of $13,233,750.00. Following the sale, the insider now owns 8,366,028 shares in the company, valued at approximately $885,711,384.36. This represents a 1.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own 10% or more of a company's stock are required to disclose their sales and purchases with the SEC.

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

• 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 Stock Up 1.3%

Shares of TTAN stock traded up $1.37 during trading hours on Friday, reaching $107.93. 1,824,654 shares of the stock traded hands, compared to its average volume of 1,897,567. 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 Inc. has a 1-year low of $79.81 and a 1-year high of $131.33. The firm has a fifty day moving average of $115.28.

ServiceTitan (NASDAQ:TTAN - Get Free Report) last released its earnings results on Thursday, June 5th. The company reported $0.18 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 business's quarterly revenue was up 26.6% compared to the same quarter last year. As a group, equities research analysts anticipate that ServiceTitan Inc. will post -1.98 EPS for the current year.

Institutional Trading of ServiceTitan

Hedge funds and other institutional investors have recently modified their holdings of the company. Woodline Partners LP increased its position in ServiceTitan by 4.6% in the 1st quarter. Woodline Partners LP now owns 2,141 shares of the company's stock worth $204,000 after purchasing an additional 95 shares during the last quarter. Alliancebernstein L.P. grew its stake in shares of ServiceTitan by 143.1% in the 1st quarter. Alliancebernstein L.P. now owns 356,490 shares of the company's stock valued at $33,906,000 after buying an additional 209,822 shares in the last quarter. Alyeska Investment Group L.P. grew its stake in shares of ServiceTitan by 20.0% in the 1st quarter. Alyeska Investment Group L.P. now owns 60,000 shares of the company's stock valued at $5,707,000 after buying an additional 10,000 shares in the last quarter. B. Metzler seel. Sohn & Co. AG bought a new position in ServiceTitan during the first quarter valued at approximately $1,221,000. Finally, PEAK6 LLC acquired a new position in shares of ServiceTitan during the 1st quarter worth $451,000.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on TTAN shares. Cowen restated a "buy" rating on shares of ServiceTitan in a research report on Wednesday, May 21st. Needham & Company LLC restated a "buy" rating and issued a $140.00 price objective on shares of ServiceTitan in a report on Friday, June 6th. Robert W. Baird raised their target price on ServiceTitan from $106.00 to $124.00 and gave the company an "outperform" rating in a research note on Wednesday, June 4th. TD Cowen assumed coverage on shares of ServiceTitan in a research report on Tuesday, April 8th. They issued a "buy" rating and a $120.00 price target on the stock. Finally, Piper Sandler restated an "overweight" rating and set a $125.00 price objective on shares of ServiceTitan in a research report on Friday, March 14th. Four analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, ServiceTitan presently has a consensus rating of "Moderate Buy" and an average 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.

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