ServiceTitan Inc. (NASDAQ:TTAN) Major Shareholder Bessemer Venture Partners Viii Sells 58,133 Shares

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 shares were sold at an average price of $111.00, for a total value of $6,452,763.00. Following the completion of the transaction, the insider owned 8,072,207 shares in the company, valued at $896,014,977. The trade was a 0.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Large shareholders that own more than 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 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 stock was 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 stock was sold at an average price of $107.45, for a total value 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 value 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 value 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 value of $51,000,000.00.

ServiceTitan Price Performance

NASDAQ TTAN traded up $0.95 during trading on Thursday, reaching $110.94. 1,298,537 shares of the company's stock were exchanged, compared to its average volume of 728,999. ServiceTitan Inc. has a fifty-two week low of $79.81 and a fifty-two week high of $131.33. The firm's 50 day simple moving average is $113.22. The company has a quick ratio of 4.82, a current ratio of 4.82 and a debt-to-equity ratio of 0.07.

ServiceTitan (NASDAQ:TTAN - Get Free Report) last issued 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 company had revenue of $215.69 million during the quarter, compared to the consensus estimate of $208.61 million. The company's quarterly 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.

Institutional Inflows and Outflows

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

Analyst Ratings Changes

TTAN has been the topic of several research analyst reports. Stifel Nicolaus raised their price objective on ServiceTitan from $110.00 to $125.00 and gave the stock a "buy" rating in a research note on Friday, May 30th. Morgan Stanley raised their price objective on ServiceTitan from $107.00 to $109.00 and gave the stock an "equal weight" rating in a research note on Friday, June 6th. TD Securities raised their price objective on ServiceTitan from $120.00 to $140.00 and gave the stock a "buy" rating in a research note on Wednesday, May 21st. TD Cowen began coverage on ServiceTitan in a research note on Tuesday, April 8th. They issued a "buy" rating and a $120.00 price target on the stock. Finally, KeyCorp lifted their price target on ServiceTitan from $120.00 to $140.00 and gave the company 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 stock. Based on data from MarketBeat.com, ServiceTitan presently has a consensus rating of "Moderate Buy" and an average 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.