Insider Selling: ServiceTitan Inc. (NASDAQ:TTAN) Major Shareholder Sells 879 Shares of Stock

ServiceTitan Inc. (NASDAQ:TTAN - Get Free Report) major shareholder Bessemer Venture Partners Viii sold 879 shares of the business's stock in a transaction that occurred on Tuesday, July 8th. The shares were sold at an average price of $110.54, for a total value of $97,164.66. Following the completion of the sale, the insider owned 8,071,328 shares of the company's stock, valued at approximately $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 SEC, which can be accessed through the SEC website. Large shareholders that own more than 10% of a company's shares 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 shares were sold at an average price of $110.65, for a total value of $1,255,434.90.
• 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 value of $6,452,763.00.
• 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 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 Price Performance

Shares of TTAN stock traded down $3.98 on Friday, reaching $106.96. 748,667 shares of the company were exchanged, compared to its average volume of 1,392,689. The firm has a 50-day simple moving average of $112.90. 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 one year low of $79.81 and a one year high of $131.33.

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

Analyst Ratings Changes

Several brokerages have recently issued reports on TTAN. TD Securities upped their price target on shares of ServiceTitan from $120.00 to $140.00 and gave the stock a "buy" rating in a report on Wednesday, May 21st. Loop Capital restated a "hold" rating and issued a $100.00 price objective (up from $90.00) on shares of ServiceTitan in a report on Friday, June 6th. 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. Morgan Stanley increased their price objective on ServiceTitan from $107.00 to $109.00 and gave the company an "equal weight" rating in a report on Friday, June 6th. Finally, Cowen reiterated a "buy" rating on shares of ServiceTitan in a report on Wednesday, May 21st. Four equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, ServiceTitan currently has an average rating of "Moderate Buy" and an average target price of $122.21.

Hedge Funds Weigh In On ServiceTitan

Several large investors have recently added to or reduced their stakes in TTAN. SBI Securities Co. Ltd. bought a new position in ServiceTitan in the 4th quarter valued at about $26,000. Victory Capital Management Inc. purchased a new stake in ServiceTitan in the 4th quarter valued at about $10,450,000. Assetmark Inc. purchased a new stake in ServiceTitan in the 4th quarter valued at about $67,000. Avantax Advisory Services Inc. purchased a new stake in ServiceTitan in the 4th quarter valued at about $227,000. Finally, Burkehill Global Management LP purchased a new stake in ServiceTitan in the 4th quarter valued at about $5,144,000.

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.