ServiceTitan (NASDAQ:TTAN) Major Shareholder Sells $1,112,149.35 in Stock

Key Points

• Bessemer Venture Partners Viii sold 9,495 shares of ServiceTitan (NASDAQ:TTAN) at an average price of $117.13, resulting in a total value of approximately $1.11 million.
• Following recent transactions, Bessemer now directly owns 7,224,022 shares of ServiceTitan, with a total value of about $846.15 million.
• ServiceTitan's shares have experienced positive momentum, trading up 1.3% recently, with a current market cap of $10.63 billion.

ServiceTitan Inc. (NASDAQ:TTAN - Get Free Report) major shareholder Bessemer Venture Partners Viii sold 9,495 shares of the company's stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $117.13, for a total transaction of $1,112,149.35. Following the completion of the sale, the insider directly owned 7,224,022 shares of the company's stock, valued at $846,149,696.86. The trade was a 0.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Large shareholders that own at least 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 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 value of $6,759,879.84.
• 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 value 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 shares were sold at an average price of $117.79, for a total transaction 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 transaction 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 transaction of $9,463,388.22.
• On Wednesday, July 9th, Bessemer Venture Partners Viii sold 11,346 shares of ServiceTitan stock. The shares were sold at an average price of $110.65, for a total value 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.

ServiceTitan Stock Performance

TTAN traded down $1.37 on Friday, hitting $115.79. The company's stock had a trading volume of 836,160 shares, compared to its average volume of 802,476. The company's 50 day simple moving average is $110.22 and its 200-day simple moving average is $108.26. The firm has a market cap of $10.50 billion and a P/E ratio of -21.44. ServiceTitan Inc. has a 12 month low of $79.81 and a 12 month high of $131.33. The company has a quick ratio of 4.49, a current ratio of 4.49 and a debt-to-equity ratio of 0.07.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. KeyCorp set a $140.00 target price on ServiceTitan and gave the stock an "overweight" rating in a research note on Wednesday, July 16th. Needham & Company LLC reaffirmed a "buy" rating and set a $140.00 price objective on shares of ServiceTitan in a report on Friday, September 5th. Citigroup boosted their price objective on shares of ServiceTitan from $111.00 to $123.00 and gave the stock a "neutral" rating in a report on Tuesday, September 9th. Morgan Stanley boosted their target price on ServiceTitan from $109.00 to $118.00 and gave the company an "equal weight" rating in a research note on Friday, September 5th. Finally, Truist Financial upped their price target on shares of ServiceTitan from $120.00 to $130.00 and gave the company a "buy" rating in a report on Friday, September 5th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $132.67.

Institutional Investors Weigh In On ServiceTitan

Several large investors have recently bought and sold shares of TTAN. Woodline Partners LP lifted its position in ServiceTitan by 4.6% during the first quarter. Woodline Partners LP now owns 2,141 shares of the company's stock valued at $204,000 after purchasing an additional 95 shares during the period. Assetmark Inc. grew its position in ServiceTitan by 47.2% in the 1st quarter. Assetmark Inc. now owns 960 shares of the company's stock worth $91,000 after purchasing an additional 308 shares during the period. Harbor Investment Advisory LLC bought a new stake in ServiceTitan in the 1st quarter worth approximately $31,000. Northwestern Mutual Wealth Management Co. grew its holdings in shares of ServiceTitan by 1,005.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 431 shares of the company's stock worth $46,000 after acquiring an additional 392 shares during the period. Finally, LRI Investments LLC bought a new stake in shares of ServiceTitan in the first quarter worth $58,000.

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.