ServiceTitan Inc. (NASDAQ:TTAN) Major Shareholder Sells $97,164.66 in Stock

ServiceTitan Inc. (NASDAQ:TTAN - Get Free Report) major shareholder Bessemer Venture Partners Viii sold 879 shares of ServiceTitan stock in a transaction that occurred on Tuesday, July 8th. The stock was sold at an average price of $110.54, for a total value of $97,164.66. Following the completion of the transaction, the insider directly owned 8,071,328 shares in the company, valued at $892,204,597.12. This trade represents a 0.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own at least 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 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 Thursday, July 3rd, Bessemer Venture Partners Viii sold 58,133 shares of ServiceTitan stock. The shares were 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 transaction 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 transaction 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 transaction 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 transaction of $51,000,000.00.

ServiceTitan Stock Up 0.9%

NASDAQ:TTAN traded up $0.95 on Thursday, reaching $110.94. 1,298,752 shares of the stock traded hands, compared to its average volume of 729,012. 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 12 month low of $79.81 and a 12 month high of $131.33. The stock's fifty day moving average is $113.22.

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 analysts' consensus estimates of $0.12 by $0.06. The company 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% on a year-over-year basis. Analysts predict that ServiceTitan Inc. will post -1.98 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Needham & Company LLC restated a "buy" rating and issued a $140.00 price objective on shares of ServiceTitan in a report on Friday, June 6th. TD Securities upped their price objective on shares of ServiceTitan from $120.00 to $140.00 and gave the stock a "buy" rating in a report on Wednesday, May 21st. Canaccord Genuity Group upped their price objective on shares of ServiceTitan from $120.00 to $130.00 and gave the stock a "buy" rating in a report on Thursday, April 17th. Morgan Stanley upped their price objective on shares of ServiceTitan from $107.00 to $109.00 and gave the stock an "equal weight" rating in a report on Friday, June 6th. Finally, Stifel Nicolaus upped their price objective on shares of ServiceTitan from $110.00 to $125.00 and gave the stock a "buy" rating in a report on Friday, May 30th. Four investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, ServiceTitan has a consensus rating of "Moderate Buy" and a consensus target price of $122.21.

Institutional Trading of ServiceTitan

A number of institutional investors have recently made changes to their positions in TTAN. Deer Management Co. LLC purchased a new stake in shares of ServiceTitan during the 4th quarter valued at about $925,943,000. TPG GP A LLC purchased a new stake in shares of ServiceTitan during the 4th quarter valued at about $525,405,000. Price T Rowe Associates Inc. MD purchased a new stake in shares of ServiceTitan during the 4th quarter valued at about $233,937,000. Dragoneer Investment Group LLC purchased a new position in shares of ServiceTitan in the fourth quarter worth approximately $210,777,000. Finally, Kayne Anderson Rudnick Investment Management LLC boosted its holdings 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 worth $195,521,000 after buying an additional 1,930,779 shares during the last quarter.

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.

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