Insider Selling: ServiceTitan Inc. (NASDAQ:TTAN) Major Shareholder Sells 58,133 Shares of Stock

ServiceTitan Inc. (NASDAQ:TTAN - Get Free Report) major shareholder Bessemer Venture Partners Viii sold 58,133 shares of the stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $111.00, for a total value of $6,452,763.00. Following the sale, the insider directly owned 8,072,207 shares of the company's stock, valued at approximately $896,014,977. This represents a 0.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own more than 10% 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 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 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 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 value 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 value 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 0.3%

ServiceTitan stock traded up $0.29 during midday trading on Tuesday, reaching $109.79. 1,332,434 shares of the company traded hands, compared to its average volume of 720,407. The company has a quick ratio of 4.82, a current ratio of 4.82 and a debt-to-equity ratio of 0.07. The company's 50 day simple moving average is $113.52. ServiceTitan Inc. has a 12 month low of $79.81 and a 12 month high of $131.33.

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

Institutional Trading of ServiceTitan

Institutional investors have recently bought and sold shares of the stock. SBI Securities Co. Ltd. acquired a new position in ServiceTitan in the 4th quarter worth about $26,000. Harbor Investment Advisory LLC purchased a new position in ServiceTitan during the first quarter worth about $31,000. LRI Investments LLC acquired a new stake in ServiceTitan during the first quarter worth $58,000. Assetmark Inc. purchased a new stake in ServiceTitan in the 4th quarter valued at about $67,000. Finally, FIL Ltd acquired a new position in shares of ServiceTitan in the 4th quarter worth approximately $67,000.

Analysts Set New Price Targets

Several research analysts have recently weighed in on TTAN shares. TD Cowen assumed coverage on shares of ServiceTitan in a research report on Tuesday, April 8th. They issued a "buy" rating and a $120.00 target price on the stock. Canaccord Genuity Group increased their price target on shares of ServiceTitan from $120.00 to $130.00 and gave the company a "buy" rating in a report on Thursday, April 17th. Piper Sandler reaffirmed an "overweight" rating and set a $125.00 price objective on shares of ServiceTitan in a report on Friday, March 14th. Robert W. Baird upped their price objective 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. Finally, KeyCorp upped their price target on shares of ServiceTitan from $120.00 to $140.00 and gave the stock an "overweight" rating in a research report 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 data from MarketBeat, ServiceTitan has a consensus rating of "Moderate Buy" and a consensus target price of $122.21.

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.