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 on Wednesday, July 2nd. The shares were sold at an average price of $110.60, for a total value of $1,151,456.60. Following the transaction, the insider owned 8,130,340 shares in the company, valued at $899,215,604. This represents a 0.13% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Large 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 shares were sold at an average price of $111.00, for a total value 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 value of $11,635,635.68.
• On Friday, June 27th, Bessemer Venture Partners Viii sold 118,125 shares of ServiceTitan stock. The shares were 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 value 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 shares were sold at an average price of $102.00, for a total value of $51,000,000.00.

ServiceTitan Price Performance

Shares of NASDAQ TTAN traded up $0.95 during trading hours on Thursday, hitting $110.94. 1,298,537 shares of the company's stock were exchanged, compared to its average volume of 728,999. ServiceTitan Inc. has a 1-year low of $79.81 and a 1-year 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. The firm has a 50-day moving average of $113.22.

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

Institutional Investors Weigh In On ServiceTitan

Several large investors have recently modified their holdings of the stock. SBI Securities Co. Ltd. bought a new position in ServiceTitan in the 4th quarter valued at $26,000. Harbor Investment Advisory LLC acquired a new stake in shares of ServiceTitan during the first quarter worth $31,000. LRI Investments LLC acquired a new stake in shares of ServiceTitan during the first quarter worth $58,000. Assetmark Inc. acquired a new stake in shares of ServiceTitan during the fourth quarter worth $67,000. Finally, FIL Ltd acquired a new stake in shares of ServiceTitan during the fourth quarter worth $67,000.

Analyst Ratings Changes

A number of research analysts have commented on the company. Canaccord Genuity Group boosted their target price on ServiceTitan from $120.00 to $130.00 and gave the company a "buy" rating in a research note on Thursday, April 17th. Needham & Company LLC restated a "buy" rating and issued a $140.00 target price on shares of ServiceTitan in a research note on Friday, June 6th. Morgan Stanley boosted their target price on ServiceTitan from $107.00 to $109.00 and gave the company an "equal weight" rating in a research note on Friday, June 6th. Cowen restated a "buy" rating on shares of ServiceTitan in a research note on Wednesday, May 21st. Finally, KeyCorp boosted their target price on ServiceTitan from $120.00 to $140.00 and gave the company an "overweight" rating in a research note on Friday, April 25th. 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 stock. According to data from MarketBeat, ServiceTitan currently has an average rating of "Moderate Buy" and a consensus target price of $122.21.

ServiceTitan Company Profile

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.