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ServiceTitan (NASDAQ:TTAN) Major Shareholder Bessemer Venture Partners Viii Sells 9,495 Shares

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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.
  • Interested in ServiceTitan? Here are five stocks we like better.

ServiceTitan Inc. (NASDAQ:TTAN - Get Free Report) major shareholder Bessemer Venture Partners Viii sold 9,495 shares of the firm's stock in a transaction that occurred on 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 transaction, the insider directly owned 7,224,022 shares of the company's stock, valued at approximately $846,149,696.86. This trade represents a 0.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Major shareholders that own at least 10% 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, 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 stock was sold at an average price of $117.18, for a total transaction of $6,759,879.84.
  • On Thursday, September 11th, Bessemer Venture Partners Viii sold 7,048 shares of ServiceTitan stock. The stock was 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 transaction 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 transaction of $1,255,434.90.
  • On Tuesday, July 8th, Bessemer Venture Partners Viii sold 879 shares of ServiceTitan stock. The shares were sold at an average price of $110.54, for a total transaction of $97,164.66.

ServiceTitan Price Performance

NASDAQ:TTAN traded down $1.68 during trading hours on Friday, hitting $115.48. The stock had a trading volume of 6,291,540 shares, compared to its average volume of 1,397,605. The company has a 50 day simple moving average of $110.39 and a two-hundred day simple moving average of $108.56. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.49 and a quick ratio of 4.49. ServiceTitan Inc. has a one year low of $79.81 and a one year high of $131.33. The firm has a market capitalization of $10.47 billion and a price-to-earnings ratio of -21.39.

Analyst Ratings Changes

Several brokerages have commented on TTAN. Citigroup raised their price target on shares of ServiceTitan from $111.00 to $123.00 and gave the company a "neutral" rating in a report on Tuesday, September 9th. Canaccord Genuity Group raised their price target on shares of ServiceTitan from $130.00 to $140.00 and gave the company a "buy" rating in a report on Friday. Wells Fargo & Company raised their price objective on shares of ServiceTitan from $130.00 to $140.00 and gave the company an "overweight" rating in a research report on Friday. Raymond James Financial initiated coverage on shares of ServiceTitan in a research report on Friday, August 29th. They set a "market perform" rating on the stock. Finally, Piper Sandler restated an "overweight" rating and set a $155.00 price objective on shares of ServiceTitan in a research report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $132.67.

Check Out Our Latest Research Report on TTAN

Hedge Funds Weigh In On ServiceTitan

Several hedge funds and other institutional investors have recently modified their holdings of the company. Osaic Holdings Inc. raised its stake in shares of ServiceTitan by 251.5% during the second quarter. Osaic Holdings Inc. now owns 1,195 shares of the company's stock valued at $128,000 after acquiring an additional 855 shares during the last quarter. Daventry Group LP bought a new position in shares of ServiceTitan during the second quarter valued at about $6,216,000. Squarepoint Ops LLC raised its stake in shares of ServiceTitan by 1,015.4% during the second quarter. Squarepoint Ops LLC now owns 36,451 shares of the company's stock valued at $3,907,000 after acquiring an additional 33,183 shares during the last quarter. Liontrust Investment Partners LLP bought a new position in shares of ServiceTitan during the second quarter valued at about $2,935,000. Finally, Hudson Bay Capital Management LP bought a new position in shares of ServiceTitan during the second quarter valued at about $2,144,000.

ServiceTitan Company Profile

(Get Free Report)

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.

See Also

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