ServiceTitan (NASDAQ:TTAN) Major Shareholder Sells 7,039 Shares

Key Points

• Bessemer Venture Partners Viii sold 7,039 shares of ServiceTitan stock at an average price of $117.32, resulting in a total transaction of approximately $825,815.48.
• Following this sale, Bessemer Venture Partners Viii retains ownership of 7,159,295 shares, valued at nearly $840 million, despite a minor decrease in their position of 0.10%.
• Recent gains in ServiceTitan's stock price included a rise of $3.17 on Thursday, bringing the trading price to $117.16, with significant trading volumes achieved compared to its average.

ServiceTitan Inc. (NASDAQ:TTAN - Get Free Report) major shareholder Bessemer Venture Partners Viii sold 7,039 shares of ServiceTitan stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $117.32, for a total transaction of $825,815.48. Following the completion of the sale, the insider owned 7,159,295 shares of the company's stock, valued at $839,928,489.40. This trade represents a 0.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through 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 Tuesday, September 16th, Bessemer Venture Partners Viii sold 57,688 shares of ServiceTitan stock. The stock was sold at an average price of $117.18, for a total transaction of $6,759,879.84.
• On Friday, September 12th, Bessemer Venture Partners Viii sold 9,495 shares of ServiceTitan stock. The shares were sold at an average price of $117.13, for a total transaction of $1,112,149.35.
• On Thursday, September 11th, Bessemer Venture Partners Viii sold 7,048 shares of ServiceTitan stock. The stock was sold at an average price of $117.10, for a total transaction of $825,320.80.
• On Wednesday, September 10th, Bessemer Venture Partners Viii sold 14,579 shares of ServiceTitan stock. The shares were sold at an average price of $117.53, for a total transaction of $1,713,469.87.
• 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 transaction of $40,497,857.37.
• On Monday, September 8th, Bessemer Venture Partners Viii sold 370,557 shares of ServiceTitan stock. The shares were sold at an average price of $117.79, for a total transaction of $43,647,909.03.
• 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 transaction 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 transaction of $9,463,388.22.
• 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 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 transaction of $97,164.66.

ServiceTitan Price Performance

TTAN traded up $3.17 on Thursday, reaching $117.16. The company had a trading volume of 3,007,966 shares, compared to its average volume of 1,278,345. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.49 and a quick ratio of 4.49. ServiceTitan Inc. has a 1 year low of $79.81 and a 1 year high of $131.33. The stock has a 50-day moving average price of $110.09 and a 200-day moving average price of $108.09.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Kayne Anderson Rudnick Investment Management LLC lifted its holdings 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 acquiring an additional 1,930,779 shares during the period. Invesco Ltd. increased its position in 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 purchasing an additional 1,378,100 shares during the last quarter. JPMorgan Chase & Co. raised its stake in ServiceTitan by 300,996.1% during the second quarter. JPMorgan Chase & Co. now owns 1,324,823 shares of the company's stock worth $141,995,000 after purchasing an additional 1,324,383 shares during the period. Franklin Resources Inc. raised its stake in 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 purchasing an additional 1,131,062 shares during the period. Finally, Atreides Management LP purchased a new stake in shares of ServiceTitan during the 2nd quarter valued at $68,679,000.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. TD Securities boosted their price objective on shares of ServiceTitan from $120.00 to $140.00 and gave the company a "buy" rating in a research note on Wednesday, May 21st. Piper Sandler lifted their target price on shares of ServiceTitan from $150.00 to $155.00 and gave the company an "overweight" rating in a report on Friday, September 5th. Truist Financial boosted their price target on shares of ServiceTitan from $120.00 to $130.00 and gave the stock a "buy" rating in a research note on Friday, September 5th. Raymond James Financial initiated coverage on shares of ServiceTitan in a research report on Friday, August 29th. They issued a "market perform" rating for the company. Finally, Robert W. Baird lifted their price objective on ServiceTitan from $124.00 to $130.00 and gave the company an "outperform" rating in a report on Friday, September 5th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $130.67.

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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