Bessemer Venture Partners Viii Sells 8,706 Shares of ServiceTitan Inc. (NASDAQ:TTAN) Stock

ServiceTitan Inc. (NASDAQ:TTANGet Free Report) major shareholder Bessemer Venture Partners Viii sold 8,706 shares of ServiceTitan stock in a transaction dated Friday, July 11th. The stock was sold at an average price of $110.24, for a total value of $959,749.44. Following the sale, the insider directly owned 7,966,334 shares of the company’s stock, valued at $878,208,660.16. This trade represents a 0.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Major 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 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 shares were 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 shares were 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 shares were 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 Trading Up 3.5%

NASDAQ TTAN opened at $111.94 on Wednesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 4.82 and a current ratio of 4.82. The stock’s 50 day simple moving average is $112.69. ServiceTitan Inc. has a 12-month low of $79.81 and a 12-month high of $131.33.

ServiceTitan (NASDAQ:TTANGet Free Report) last released its earnings results on Thursday, June 5th. The company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.06. The business had revenue of $215.69 million for the quarter, compared to analyst estimates of $208.61 million. The company’s revenue for the quarter was up 26.6% on a year-over-year basis. Research analysts anticipate that ServiceTitan Inc. will post -1.98 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have commented on TTAN shares. Morgan Stanley upped their price objective on ServiceTitan from $107.00 to $109.00 and gave the company an “equal weight” rating in a research note on Friday, June 6th. Cowen reaffirmed a “buy” rating on shares of ServiceTitan in a research note on Wednesday, May 21st. Stifel Nicolaus upped their price objective on ServiceTitan from $110.00 to $125.00 and gave the company a “buy” rating in a research note on Friday, May 30th. Canaccord Genuity Group upped their price objective on ServiceTitan from $120.00 to $130.00 and gave the company a “buy” rating in a research note on Thursday, April 17th. Finally, TD Securities upped their price objective on ServiceTitan from $120.00 to $140.00 and gave the company a “buy” rating in a research note on Wednesday, May 21st. Four equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $122.21.

Check Out Our Latest Report on ServiceTitan

Institutional Investors Weigh In On ServiceTitan

Institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. acquired a new stake in shares of ServiceTitan in the 4th quarter worth approximately $57,349,000. Jane Street Group LLC acquired a new stake in shares of ServiceTitan in the 4th quarter worth approximately $529,000. Bank of America Corp DE acquired a new stake in shares of ServiceTitan in the 4th quarter worth approximately $540,000. Nuveen Asset Management LLC acquired a new stake in shares of ServiceTitan in the 4th quarter worth approximately $7,793,000. Finally, D. E. Shaw & Co. Inc. acquired a new stake in shares of ServiceTitan in the 4th quarter worth approximately $1,543,000.

About ServiceTitan

(Get Free Report)

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.

See Also

Insider Buying and Selling by Quarter for ServiceTitan (NASDAQ:TTAN)

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