Bessemer Venture Partners Viii Sells 8,706 Shares of ServiceTitan Inc. (NASDAQ:TTAN) Stock

ServiceTitan Inc. (NASDAQ:TTAN - Get Free Report) major shareholder Bessemer Venture Partners Viii sold 8,706 shares of the stock in a transaction dated Friday, July 11th. The stock was sold at an average price of $110.24, for a total transaction of $959,749.44. Following the transaction, the insider owned 7,966,334 shares in the company, valued at approximately $878,208,660.16. The trade was a 0.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own 10% or more 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 Thursday, July 10th, Bessemer Venture Partners Viii sold 84,942 shares of ServiceTitan stock. The stock was 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 stock was 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 stock was 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 shares were 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 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 transaction 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 transaction of $51,000,000.00.

ServiceTitan Stock Up 1.3%

ServiceTitan stock traded up $1.43 during mid-day trading on Thursday, reaching $112.57. The company's stock had a trading volume of 968,285 shares, compared to its average volume of 733,352. The business has a 50 day moving average price of $112.59 and a 200-day moving average price of $104.95. 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 Inc. has a twelve month low of $79.81 and a twelve month high of $131.33.

ServiceTitan (NASDAQ:TTAN - Get Free Report) last announced 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 analyst estimates of $208.61 million. ServiceTitan's revenue for the quarter was up 26.6% compared to the same quarter last year. As a group, analysts expect that ServiceTitan Inc. will post -1.98 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages recently issued reports on TTAN. Cowen restated a "buy" rating on shares of ServiceTitan in a research note on Wednesday, May 21st. KeyCorp set a $140.00 price target on shares of ServiceTitan and gave the stock an "overweight" rating in a research note on Wednesday. Robert W. Baird lifted their price target on shares of ServiceTitan from $106.00 to $124.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 4th. Needham & Company LLC restated a "buy" rating and issued a $140.00 price target on shares of ServiceTitan in a research note on Friday, June 6th. Finally, Morgan Stanley lifted their price target on shares of ServiceTitan from $107.00 to $109.00 and gave the stock an "equal weight" rating in a research note on Friday, June 6th. Four equities research 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's stock. According to MarketBeat.com, ServiceTitan has a consensus rating of "Moderate Buy" and an average target price of $122.21.

Institutional Investors Weigh In On ServiceTitan

Several institutional investors have recently bought and sold shares of the stock. Deer Management Co. LLC bought a new stake in ServiceTitan in the fourth quarter worth about $925,943,000. TPG GP A LLC acquired a new position in shares of ServiceTitan in the 4th quarter valued at about $525,405,000. Price T Rowe Associates Inc. MD acquired a new position in shares of ServiceTitan in the 4th quarter valued at about $233,937,000. Dragoneer Investment Group LLC bought a new stake in shares of ServiceTitan in the 4th quarter valued at approximately $210,777,000. Finally, Kayne Anderson Rudnick Investment Management LLC grew its stake in shares of ServiceTitan by 1,545.2% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,055,736 shares of the company's stock valued at $195,521,000 after buying an additional 1,930,779 shares in the last quarter.

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.