Insider Selling: ServiceTitan Inc. (NASDAQ:TTAN) Major Shareholder Sells 10,411 Shares of Stock

ServiceTitan Inc. (NASDAQ:TTAN) major shareholder Bessemer Venture Partners Viii sold 10,411 shares of the stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $110.60, for a total value of $1,151,456.60. Following the completion of the transaction, the insider owned 8,130,340 shares of the company’s stock, valued at $899,215,604. This trade represents a 0.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own 10% or more 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 Thursday, July 3rd, Bessemer Venture Partners Viii sold 58,133 shares of ServiceTitan stock. The shares were sold at an average price of $111.00, for a total transaction of $6,452,763.00.
• 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 transaction 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 transaction 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 shares were 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 value of $51,000,000.00.

ServiceTitan Trading Down 0.3%

ServiceTitan stock traded down $0.34 during mid-day trading on Monday, hitting $109.50. 808,440 shares of the company’s stock were exchanged, compared to its average volume of 715,549. ServiceTitan Inc. has a 1-year low of $79.81 and a 1-year high of $131.33. The business has a 50 day moving average price of $113.72. 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 (NASDAQ:TTAN) last issued its quarterly earnings data on Thursday, June 5th. The company reported $0.18 EPS 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 analyst estimates of $208.61 million. ServiceTitan’s revenue for the quarter was up 26.6% on a year-over-year basis. On average, analysts forecast that ServiceTitan Inc. will post -1.98 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ServiceTitan

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Deer Management Co. LLC acquired a new stake in shares of ServiceTitan in the fourth quarter worth $925,943,000. TPG GP A LLC acquired a new stake in shares of ServiceTitan in the fourth quarter valued at about $525,405,000. Price T Rowe Associates Inc. MD grew its position in shares of ServiceTitan by 1.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,306,168 shares of the company’s stock valued at $219,341,000 after purchasing an additional 32,066 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its stake in shares of ServiceTitan by 1,545.2% in 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 purchasing an additional 1,930,779 shares during the period. Finally, Dragoneer Investment Group LLC acquired a new position in shares of ServiceTitan during the 4th quarter worth about $210,777,000.

Analyst Ratings Changes

TTAN has been the subject of several research analyst reports. TD Securities increased their price objective on ServiceTitan from $120.00 to $140.00 and gave the stock a “buy” rating in a research note on Wednesday, May 21st. Cowen reissued a “buy” rating on shares of ServiceTitan in a research report on Wednesday, May 21st. Canaccord Genuity Group upped their price objective on shares of ServiceTitan from $120.00 to $130.00 and gave the company a “buy” rating in a research note on Thursday, April 17th. KeyCorp increased their target price on shares of ServiceTitan from $120.00 to $140.00 and gave the stock an “overweight” rating in a research report on Friday, April 25th. Finally, Stifel Nicolaus boosted their price target on shares of ServiceTitan from $110.00 to $125.00 and gave the company a “buy” rating in a report on Friday, May 30th. Four equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, ServiceTitan 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.