ServiceTitan Inc. (NASDAQ:TTAN) Major Shareholder Sells $9,463,388.22 in Stock

ServiceTitan Inc. (NASDAQ:TTAN - Get Free Report) major shareholder Bessemer Venture Partners Viii sold 84,942 shares of ServiceTitan stock in a transaction that occurred on Thursday, July 10th. The shares were sold at an average price of $111.41, for a total transaction of $9,463,388.22. Following the completion of the transaction, the insider owned 7,975,040 shares of the company's stock, valued at $888,499,206.40. This represents a 1.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Large shareholders that own at least 10% of a company's stock are required to disclose their transactions with the SEC.

Bessemer Venture Partners Viii also recently made the following trade(s):

• On Friday, July 11th, Bessemer Venture Partners Viii sold 8,706 shares of ServiceTitan stock. The shares were sold at an average price of $110.24, for a total transaction of $959,749.44.
• 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 stock was sold at an average price of $110.54, for a total value 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 shares were sold at an average price of $110.60, for a total value of $1,151,456.60.
• 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 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 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 value of $51,000,000.00.

ServiceTitan Trading Up 3.3%

TTAN stock traded up $3.61 during mid-day trading on Tuesday, hitting $111.76. 427,950 shares of the company were exchanged, compared to its average volume of 725,733. 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 Inc. has a 12-month low of $79.81 and a 12-month high of $131.33. The firm's fifty day simple moving average is $112.90.

ServiceTitan (NASDAQ:TTAN - Get Free Report) last released its quarterly earnings data on Thursday, June 5th. The company reported $0.18 EPS for the quarter, beating the consensus estimate of $0.12 by $0.06. The business had revenue of $215.69 million for the quarter, compared to analysts' expectations of $208.61 million. The firm's revenue was up 26.6% compared to the same quarter last year. On average, analysts predict that ServiceTitan Inc. will post -1.98 EPS for the current year.

Hedge Funds Weigh In On ServiceTitan

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

Wall Street Analyst Weigh In

TTAN has been the subject of a number of recent research reports. Robert W. Baird boosted their price target on shares of ServiceTitan from $106.00 to $124.00 and gave the company an "outperform" rating in a research note on Wednesday, June 4th. Needham & Company LLC reaffirmed a "buy" rating and set a $140.00 price objective on shares of ServiceTitan in a research report on Friday, June 6th. Loop Capital reissued a "hold" rating and issued a $100.00 target price (up from $90.00) on shares of ServiceTitan in a report on Friday, June 6th. Cowen reaffirmed a "buy" rating on shares of ServiceTitan in a report on Wednesday, May 21st. Finally, Stifel Nicolaus raised their price target on shares of ServiceTitan from $110.00 to $125.00 and gave the company a "buy" rating in a research note on Friday, May 30th. Four analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target 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.