ServiceTitan (NASDAQ:TTAN) Major Shareholder Bessemer Venture Partners Viii Sells 370,557 Shares

Key Points

• Bessemer Venture Partners Viii, a major shareholder of ServiceTitan, sold 370,557 shares at an average price of $117.79, totaling approximately $43.65 million, which reflects a 4.65% decrease in their ownership.
• ServiceTitan's shares recently traded down to $114.46, with the company having a market capitalization of $10.38 billion and a price-to-earnings ratio of -21.20.
• Analysts have generally rated ServiceTitan positively, with a consensus rating of "Moderate Buy" and an average price target of $130.67 following several recent upgrades.

ServiceTitan Inc. (NASDAQ:TTAN - Get Free Report) major shareholder Bessemer Venture Partners Viii sold 370,557 shares of ServiceTitan stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $117.79, for a total value of $43,647,909.03. Following the completion of the sale, the insider owned 7,595,777 shares in the company, valued at approximately $894,706,572.83. The trade was a 4.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Large shareholders that own 10% or more 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 Tuesday, September 9th, Bessemer Venture Partners Viii sold 340,633 shares of ServiceTitan stock. The stock was sold at an average price of $118.89, for a total value of $40,497,857.37.
• On Friday, July 11th, Bessemer Venture Partners Viii sold 8,706 shares of ServiceTitan stock. The stock was sold at an average price of $110.24, for a total value of $959,749.44.
• On Thursday, July 10th, Bessemer Venture Partners Viii sold 84,942 shares of ServiceTitan stock. The stock was sold at an average price of $111.41, for a total value of $9,463,388.22.
• 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 value 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 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 value of $13,233,750.00.

ServiceTitan Price Performance

Shares of ServiceTitan stock traded down $5.16 on Wednesday, hitting $114.46. 1,157,806 shares of the company were exchanged, compared to its average volume of 776,081. The stock has a market capitalization of $10.38 billion and a price-to-earnings ratio of -21.20. The company has a 50-day moving average price of $109.41 and a 200 day moving average price of $107.31. ServiceTitan Inc. has a 1-year low of $79.81 and a 1-year high of $131.33. The company has a quick ratio of 4.82, a current ratio of 4.82 and a debt-to-equity ratio of 0.07.

Institutional Trading of ServiceTitan

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TTAN. TPG GP A LLC purchased a new stake in shares of ServiceTitan during the fourth quarter worth $525,405,000. Price T Rowe Associates Inc. MD increased its position in shares of ServiceTitan by 1.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,306,168 shares of the company's stock worth $219,341,000 after acquiring an additional 32,066 shares during the period. Kayne Anderson Rudnick Investment Management LLC increased its position in shares of ServiceTitan by 1,545.2% during 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 acquiring an additional 1,930,779 shares during the period. Franklin Resources Inc. increased its position in shares of ServiceTitan by 148.4% during the second quarter. Franklin Resources Inc. now owns 1,893,237 shares of the company's stock worth $202,917,000 after acquiring an additional 1,131,062 shares during the period. Finally, Invesco Ltd. increased its position in shares of ServiceTitan by 1,388.2% during the second quarter. Invesco Ltd. now owns 1,477,369 shares of the company's stock worth $158,344,000 after acquiring an additional 1,378,100 shares during the period.

Analyst Ratings Changes

TTAN has been the topic of several recent research reports. Loop Capital upgraded ServiceTitan from a "hold" rating to a "buy" rating and boosted their target price for the stock from $100.00 to $140.00 in a report on Monday, August 18th. Stifel Nicolaus lifted their price target on shares of ServiceTitan from $125.00 to $135.00 and gave the company a "buy" rating in a research report on Friday, September 5th. TD Securities lifted their price target on shares of ServiceTitan from $120.00 to $140.00 and gave the company a "buy" rating in a research report on Wednesday, May 21st. KeyCorp set a $140.00 price target on ServiceTitan and gave the stock an "overweight" rating in a report on Wednesday, July 16th. Finally, Robert W. Baird boosted their price objective on shares of ServiceTitan from $124.00 to $130.00 and gave the company an "outperform" rating in a report on Friday, September 5th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $130.67.

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.

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