Bessemer Venture Partners Viii Sells 28,245 Shares of ServiceTitan (NASDAQ:TTAN) Stock

Key Points

• Bessemer Venture Partners Viii sold 28,245 shares of ServiceTitan Inc. at an average price of $118.21, totaling approximately $3.34 million, reducing their ownership by 0.39% to 7,131,050 shares.
• ServiceTitan's stock fell 2.6% to $107.95, with a high of $131.33 and a low of $79.81 in the past twelve months, reflecting volatility in its performance.
• Several analysts have raised their price targets for ServiceTitan, with updates indicating targets ranging from $130.00 to $140.00 and a consensus rating of "Moderate Buy."

ServiceTitan Inc. (NASDAQ:TTAN - Get Free Report) major shareholder Bessemer Venture Partners Viii sold 28,245 shares of the company's stock in a transaction dated Friday, September 19th. The shares were sold at an average price of $118.21, for a total transaction of $3,338,841.45. Following the completion of the sale, the insider directly owned 7,131,050 shares of the company's stock, valued at $842,961,420.50. This represents a 0.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Major 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 Wednesday, September 17th, Bessemer Venture Partners Viii sold 7,039 shares of ServiceTitan stock. The stock was sold at an average price of $117.32, for a total transaction of $825,815.48.
• On Tuesday, September 16th, Bessemer Venture Partners Viii sold 57,688 shares of ServiceTitan stock. The shares were sold at an average price of $117.18, for a total transaction of $6,759,879.84.
• On Friday, September 12th, Bessemer Venture Partners Viii sold 9,495 shares of ServiceTitan stock. The shares were sold at an average price of $117.13, for a total transaction of $1,112,149.35.
• On Thursday, September 11th, Bessemer Venture Partners Viii sold 7,048 shares of ServiceTitan stock. The shares were sold at an average price of $117.10, for a total transaction of $825,320.80.
• On Wednesday, September 10th, Bessemer Venture Partners Viii sold 14,579 shares of ServiceTitan stock. The shares were sold at an average price of $117.53, for a total value of $1,713,469.87.
• On Tuesday, September 9th, Bessemer Venture Partners Viii sold 340,633 shares of ServiceTitan stock. The shares were sold at an average price of $118.89, for a total transaction of $40,497,857.37.
• On Monday, September 8th, Bessemer Venture Partners Viii sold 370,557 shares of ServiceTitan stock. The stock was sold at an average price of $117.79, for a total value of $43,647,909.03.
• On Friday, July 11th, Bessemer Venture Partners Viii sold 8,706 shares of ServiceTitan stock. The shares were sold at an average price of $110.24, for a total value of $959,749.44.
• On Thursday, July 10th, Bessemer Venture Partners Viii sold 84,942 shares of ServiceTitan stock. The shares were sold at an average price of $111.41, for a total value of $9,463,388.22.
• 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 value of $1,255,434.90.

ServiceTitan Stock Down 2.6%

Shares of ServiceTitan stock traded down $2.83 during trading on Tuesday, hitting $107.95. 1,916,764 shares of the stock traded hands, compared to its average volume of 845,138. The company has a fifty day moving average price of $110.44 and a two-hundred day moving average price of $108.85. ServiceTitan Inc. has a twelve month low of $79.81 and a twelve month high of $131.33. The company has a debt-to-equity ratio of 0.07, a quick ratio of 4.49 and a current ratio of 4.49. The stock has a market cap of $10.03 billion and a P/E ratio of -19.99.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Harbor Investment Advisory LLC acquired a new position in shares of ServiceTitan during the first quarter worth approximately $31,000. Northwestern Mutual Wealth Management Co. grew its stake 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 worth $46,000 after acquiring an additional 392 shares in the last quarter. LRI Investments LLC bought a new stake in shares of ServiceTitan in the 1st quarter worth $58,000. PNC Financial Services Group Inc. bought a new stake in shares of ServiceTitan in the 2nd quarter worth $79,000. Finally, Assetmark Inc. boosted its stake in shares of ServiceTitan by 47.2% in the 1st quarter. Assetmark Inc. now owns 960 shares of the company's stock worth $91,000 after buying an additional 308 shares during the last quarter.

Analyst Ratings Changes

A number of research analysts have commented on TTAN shares. Robert W. Baird raised their price target on shares of ServiceTitan from $124.00 to $130.00 and gave the stock an "outperform" rating in a research note on Friday, September 5th. Wells Fargo & Company increased their target price on ServiceTitan from $130.00 to $140.00 and gave the company an "overweight" rating in a research note on Friday. KeyCorp set a $140.00 price target on ServiceTitan and gave the stock an "overweight" rating in a report on Wednesday, July 16th. BMO Capital Markets assumed coverage on ServiceTitan in a report on Thursday, August 28th. They issued an "outperform" rating and a $129.00 price target for the company. Finally, Loop Capital upgraded ServiceTitan from a "hold" rating to a "buy" rating and increased their price objective for the stock from $100.00 to $140.00 in a report on Monday, August 18th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $132.67.

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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