Bessemer Venture Partners Viii Sells 11,346 Shares of ServiceTitan Inc. (NASDAQ:TTAN) Stock

ServiceTitan Inc. (NASDAQ:TTAN) major shareholder Bessemer Venture Partners Viii sold 11,346 shares of ServiceTitan stock in a transaction dated Wednesday, July 9th. The stock was sold at an average price of $110.65, for a total value of $1,255,434.90. Following the completion of the transaction, the insider owned 8,059,982 shares in the company, valued at approximately $891,837,008.30. This represents a 0.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Major 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 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 shares were 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 shares were 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 shares were sold at an average price of $102.00, for a total value of $51,000,000.00.

ServiceTitan Stock Performance

TTAN opened at $106.96 on Friday. ServiceTitan Inc. has a 52 week low of $79.81 and a 52 week high of $131.33. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.82 and a quick ratio of 4.82. The company has a 50 day moving average price of $112.90.

ServiceTitan (NASDAQ:TTAN) last posted its quarterly earnings data on Thursday, June 5th. The company reported $0.18 earnings per share 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 the consensus estimate of $208.61 million. The firm’s revenue was up 26.6% on a year-over-year basis. As a group, analysts expect that ServiceTitan Inc. will post -1.98 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Deer Management Co. LLC bought a new position in ServiceTitan during the 4th quarter valued at approximately $925,943,000. TPG GP A LLC bought a new position in ServiceTitan during the 4th quarter valued at approximately $525,405,000. Price T Rowe Associates Inc. MD increased its position in ServiceTitan by 1.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,306,168 shares of the company’s stock valued at $219,341,000 after buying an additional 32,066 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its position in 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 valued at $195,521,000 after buying an additional 1,930,779 shares in the last quarter. Finally, Dragoneer Investment Group LLC bought a new position in ServiceTitan during the 4th quarter valued at approximately $210,777,000.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on TTAN shares. Robert W. Baird upped their price target on ServiceTitan from $106.00 to $124.00 and gave the company an “outperform” rating in a research report on Wednesday, June 4th. TD Cowen started coverage on ServiceTitan in a research report on Tuesday, April 8th. They set a “buy” rating and a $120.00 price target for the company. Stifel Nicolaus upped their price target on ServiceTitan from $110.00 to $125.00 and gave the company a “buy” rating in a research report on Friday, May 30th. Loop Capital reaffirmed a “hold” rating and set a $100.00 price target (up previously from $90.00) on shares of ServiceTitan in a research report on Friday, June 6th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $140.00 price target on shares of ServiceTitan in a research report on Friday, June 6th. Four analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target 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.