ServiceTitan (NASDAQ:TTAN) Major Shareholder Sells $6,759,879.84 in Stock

Key Points

• Bessemer Venture Partners Viii sold 57,688 shares of ServiceTitan at an average price of $117.18 for a total of approximately $6.76 million, reducing their ownership stake by 0.80% to 7,166,334 shares.
• ServiceTitan stock has recently seen an increase in trading, reaching a price of $117.16, with analyst forecasts varying from a "Hold" to a "Buy," with a consensus target price of $130.67.
• Institutional investors like Northwestern Mutual Wealth Management Co. and others have significantly increased their stakes in ServiceTitan, indicating growing confidence in the company's prospects.

ServiceTitan Inc. (NASDAQ:TTAN - Get Free Report) major shareholder Bessemer Venture Partners Viii sold 57,688 shares of the business's stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $117.18, for a total value of $6,759,879.84. Following the transaction, the insider owned 7,166,334 shares in the company, valued at approximately $839,751,018.12. This trade represents a 0.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own 10% or more 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 Wednesday, September 17th, Bessemer Venture Partners Viii sold 7,039 shares of ServiceTitan stock. The shares were sold at an average price of $117.32, for a total transaction of $825,815.48.
• On Friday, September 12th, Bessemer Venture Partners Viii sold 9,495 shares of ServiceTitan stock. The stock was sold at an average price of $117.13, for a total value of $1,112,149.35.
• On Thursday, September 11th, Bessemer Venture Partners Viii sold 7,048 shares of ServiceTitan stock. The stock was sold at an average price of $117.10, for a total transaction of $825,320.80.
• On Wednesday, September 10th, Bessemer Venture Partners Viii sold 14,579 shares of ServiceTitan stock. The stock was sold at an average price of $117.53, for a total value of $1,713,469.87.
• On Tuesday, September 9th, Bessemer Venture Partners Viii sold 340,633 shares of ServiceTitan stock. The shares were sold at an average price of $118.89, for a total value of $40,497,857.37.
• On Monday, September 8th, Bessemer Venture Partners Viii sold 370,557 shares of ServiceTitan stock. The shares were sold at an average price of $117.79, for a total value of $43,647,909.03.
• On Friday, July 11th, Bessemer Venture Partners Viii sold 8,706 shares of ServiceTitan stock. The stock was sold at an average price of $110.24, for a total value of $959,749.44.
• 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 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 shares were sold at an average price of $110.54, for a total transaction of $97,164.66.

ServiceTitan Price Performance

Shares of TTAN stock traded down $4.70 on Monday, reaching $110.78. 1,917,597 shares of the company were exchanged, compared to its average volume of 1,687,479. 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 4.49 and a current ratio of 4.49. The business has a 50-day moving average price of $110.44 and a 200 day moving average price of $108.85. The company has a market cap of $10.30 billion and a price-to-earnings ratio of -20.51.

Analyst Upgrades and Downgrades

TTAN has been the topic of a number of research analyst reports. Loop Capital raised ServiceTitan from a "hold" rating to a "buy" rating and lifted their price target for the stock from $100.00 to $140.00 in a research note on Monday, August 18th. Stifel Nicolaus upped their price target on ServiceTitan from $135.00 to $145.00 and gave the company a "buy" rating in a research report on Friday. Citigroup lifted their target price on shares of ServiceTitan from $111.00 to $123.00 and gave the stock a "neutral" rating in a research note on Tuesday, September 9th. Truist Financial increased their price target on shares of ServiceTitan from $120.00 to $130.00 and gave the company a "buy" rating in a research note on Friday, September 5th. Finally, BMO Capital Markets assumed coverage on shares of ServiceTitan in a research report on Thursday, August 28th. They set an "outperform" rating and a $129.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $132.67.

Institutional Investors Weigh In On ServiceTitan

A number of institutional investors have recently modified their holdings of the company. Kayne Anderson Rudnick Investment Management LLC boosted its stake in shares of ServiceTitan by 1,545.2% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,055,736 shares of the company's stock valued at $195,521,000 after purchasing an additional 1,930,779 shares during the period. Invesco Ltd. lifted its holdings in ServiceTitan by 1,388.2% during the 2nd quarter. Invesco Ltd. now owns 1,477,369 shares of the company's stock worth $158,344,000 after buying an additional 1,378,100 shares in the last quarter. JPMorgan Chase & Co. boosted its position in ServiceTitan by 300,996.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,324,823 shares of the company's stock valued at $141,995,000 after buying an additional 1,324,383 shares during the period. Franklin Resources Inc. boosted its position in ServiceTitan by 148.4% in the 2nd quarter. Franklin Resources Inc. now owns 1,893,237 shares of the company's stock valued at $202,917,000 after buying an additional 1,131,062 shares during the period. Finally, Atreides Management LP purchased a new stake in shares of ServiceTitan during the second quarter worth $68,679,000.

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.