ServiceTitan Inc. (NASDAQ:TTAN - Get Free Report) major shareholder Bessemer Venture Partners Viii sold 107,152 shares of ServiceTitan stock in a transaction dated Monday, June 30th. The stock was sold at an average price of $108.59, for a total value of $11,635,635.68. Following the completion of the transaction, the insider owned 8,140,751 shares of the company's stock, valued at $884,004,151.09. This trade represents a 1.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Large shareholders that own 10% or more 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 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 stock was 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 stock was 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 value of $51,000,000.00.
ServiceTitan Price Performance
NASDAQ:TTAN traded down $0.48 during midday trading on Wednesday, hitting $108.78. 2,603,108 shares of the stock were exchanged, compared to its average volume of 2,111,722. ServiceTitan Inc. has a one year low of $79.81 and a one year high of $131.33. The company's 50-day moving average price is $114.35. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.82 and a quick ratio of 4.82.
ServiceTitan (NASDAQ:TTAN - Get Free Report) last announced its earnings results on Thursday, June 5th. The company reported $0.18 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. ServiceTitan's revenue for the quarter was up 26.6% compared to the same quarter last year. Equities research analysts anticipate that ServiceTitan Inc. will post -1.98 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of equities analysts recently commented on the company. TD Securities lifted their price target on ServiceTitan from $120.00 to $140.00 and gave the stock a "buy" rating in a research note on Wednesday, May 21st. Needham & Company LLC reiterated a "buy" rating and issued a $140.00 price target on shares of ServiceTitan in a research note on Friday, June 6th. KeyCorp lifted 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. Loop Capital restated a "hold" rating and issued a $100.00 target price (up from $90.00) on shares of ServiceTitan in a research note on Friday, June 6th. Finally, Canaccord Genuity Group lifted 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. Four investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $122.21.
View Our Latest Research Report on ServiceTitan
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the business. SBI Securities Co. Ltd. acquired a new position in ServiceTitan in the fourth quarter worth approximately $26,000. Harbor Investment Advisory LLC acquired a new position in ServiceTitan in the first quarter worth approximately $31,000. LRI Investments LLC acquired a new position in ServiceTitan in the first quarter worth approximately $58,000. Assetmark Inc. acquired a new position in ServiceTitan in the fourth quarter worth approximately $67,000. Finally, FIL Ltd acquired a new position in ServiceTitan in the fourth quarter worth approximately $67,000.
About ServiceTitan
(
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.
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