ServiceTitan Inc. (NASDAQ:TTAN) Major Shareholder Sells $959,749.44 in Stock

ServiceTitan Inc. (NASDAQ:TTAN - Get Free Report) major shareholder Bessemer Venture Partners Viii sold 8,706 shares of the stock in a transaction that occurred on Friday, July 11th. The shares were sold at an average price of $110.24, for a total transaction of $959,749.44. Following the sale, the insider directly owned 7,966,334 shares of the company's stock, valued at approximately $878,208,660.16. This represents a 0.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 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 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.
• 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 Wednesday, July 2nd, Bessemer Venture Partners Viii sold 10,411 shares of ServiceTitan stock. The stock was sold at an average price of $110.60, for a total transaction of $1,151,456.60.
• On Monday, June 30th, Bessemer Venture Partners Viii sold 107,152 shares of ServiceTitan stock. The stock was 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 transaction 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 transaction 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 transaction 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

NASDAQ:TTAN traded down $0.59 during midday trading on Wednesday, reaching $111.35. The stock had a trading volume of 219,961 shares, compared to its average volume of 725,377. ServiceTitan Inc. has a 1-year low of $79.81 and a 1-year high of $131.33. The business has a fifty day moving average price of $112.69. The company has a current ratio of 4.82, a quick ratio of 4.82 and a debt-to-equity ratio of 0.07.

ServiceTitan (NASDAQ:TTAN - Get Free Report) last posted its earnings results on Thursday, June 5th. The company reported $0.18 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.12 by $0.06. The firm had revenue of $215.69 million during the quarter, compared to analyst estimates of $208.61 million. The company's revenue was up 26.6% on a year-over-year basis. On average, sell-side analysts anticipate that ServiceTitan Inc. will post -1.98 EPS for the current year.

Institutional Inflows and Outflows

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

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Robert W. Baird raised their price objective on shares of ServiceTitan from $106.00 to $124.00 and gave the company an "outperform" rating in a research report on Wednesday, June 4th. TD Securities increased their price target on shares of ServiceTitan from $120.00 to $140.00 and gave the stock a "buy" rating in a research note on Wednesday, May 21st. Loop Capital restated a "hold" rating and set a $100.00 price target (up previously from $90.00) on shares of ServiceTitan in a research note on Friday, June 6th. TD Cowen assumed coverage on shares of ServiceTitan in a research note on Tuesday, April 8th. They set a "buy" rating and a $120.00 price target on the stock. Finally, KeyCorp increased their price target on shares of ServiceTitan from $120.00 to $140.00 and gave the stock an "overweight" rating in a research note on Friday, April 25th. Four research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, ServiceTitan 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.