ServiceTitan Inc. (NASDAQ:TTAN) Major Shareholder Sells $1,151,456.60 in Stock

ServiceTitan Inc. (NASDAQ:TTAN - Get Free Report) major shareholder Bessemer Venture Partners Viii sold 10,411 shares of ServiceTitan stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $110.60, for a total transaction of $1,151,456.60. Following the transaction, the insider owned 8,130,340 shares of the company's stock, valued at $899,215,604. The trade was a 0.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Major shareholders that own more than 10% of a company's shares are required to disclose their transactions with the SEC.

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

• On Thursday, July 3rd, Bessemer Venture Partners Viii sold 58,133 shares of ServiceTitan stock. The stock was sold at an average price of $111.00, for a total transaction of $6,452,763.00.
• 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 stock was sold at an average price of $107.45, for a total value 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 value of $1,322,408.49.
• On Tuesday, June 10th, Bessemer Venture Partners Viii sold 500,000 shares of ServiceTitan stock. The stock was sold at an average price of $102.00, for a total transaction of $51,000,000.00.

ServiceTitan Stock Performance

TTAN traded up $0.29 on Tuesday, reaching $109.79. 1,332,434 shares of the company traded hands, compared to its average volume of 720,407. The business has a 50 day moving average price of $113.52. 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 posted its quarterly earnings data on Thursday, June 5th. The company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.06. The firm had revenue of $215.69 million for the quarter, compared to the consensus estimate of $208.61 million. The firm's quarterly revenue was up 26.6% on a year-over-year basis. Research analysts expect that ServiceTitan Inc. will post -1.98 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on TTAN. Piper Sandler reaffirmed an "overweight" rating and issued a $125.00 price objective on shares of ServiceTitan in a report on Friday, March 14th. Needham & Company LLC reaffirmed a "buy" rating and set a $140.00 target price on shares of ServiceTitan in a research note on Friday, June 6th. Loop Capital restated a "hold" rating and issued a $100.00 price target (up from $90.00) on shares of ServiceTitan in a research note on Friday, June 6th. TD Securities upped their price objective on ServiceTitan from $120.00 to $140.00 and gave the company a "buy" rating in a research note on Wednesday, May 21st. Finally, Cowen restated a "buy" rating on shares of ServiceTitan in a report on Wednesday, May 21st. Four research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $122.21.

Institutional Investors Weigh In On ServiceTitan

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. bought a new position in shares of ServiceTitan in the 4th quarter worth $57,349,000. Jane Street Group LLC bought a new stake in shares of ServiceTitan in the fourth quarter worth $529,000. Bank of America Corp DE acquired a new position in ServiceTitan during the fourth quarter valued at approximately $540,000. Nuveen Asset Management LLC bought a new stake in ServiceTitan during the fourth quarter worth $7,793,000. Finally, D. E. Shaw & Co. Inc. bought a new stake in ServiceTitan in the fourth quarter valued at approximately $1,543,000.

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.