Bessemer Venture Partners Viii Sells 14,579 Shares of ServiceTitan (NASDAQ:TTAN) Stock

ServiceTitan Inc. (NASDAQ:TTAN) major shareholder Bessemer Venture Partners Viii sold 14,579 shares of the company’s stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $117.53, for a total value of $1,713,469.87. Following the completion of the transaction, the insider directly owned 7,240,565 shares of the company’s stock, valued at $850,983,604.45. This represents a 0.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large 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 Thursday, September 11th, Bessemer Venture Partners Viii sold 7,048 shares of ServiceTitan stock. The shares were sold at an average price of $117.10, for a total value of $825,320.80.
• On Tuesday, September 9th, Bessemer Venture Partners Viii sold 340,633 shares of ServiceTitan stock. The shares were sold at an average price of $118.89, for a total value 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 value of $43,647,909.03.
• On Friday, July 11th, Bessemer Venture Partners Viii sold 8,706 shares of ServiceTitan stock. The shares were 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 shares were 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 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 shares were 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 shares were 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.

ServiceTitan Stock Performance

Shares of TTAN stock opened at $113.37 on Friday. The business’s 50 day simple moving average is $109.74 and its 200 day simple moving average is $107.73. ServiceTitan Inc. has a one year low of $79.81 and a one year high of $131.33. The stock has a market capitalization of $10.28 billion and a PE ratio of -20.99. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.49 and a quick ratio of 4.82.

Hedge Funds Weigh In On ServiceTitan

A number of large investors have recently modified their holdings of the company. Osaic Holdings Inc. lifted its holdings in shares of ServiceTitan by 251.5% in the 2nd quarter. Osaic Holdings Inc. now owns 1,195 shares of the company’s stock worth $128,000 after purchasing an additional 855 shares in the last quarter. Daventry Group LP bought a new position in shares of ServiceTitan in the 2nd quarter worth $6,216,000. Squarepoint Ops LLC lifted its holdings in shares of ServiceTitan by 1,015.4% in the 2nd quarter. Squarepoint Ops LLC now owns 36,451 shares of the company’s stock worth $3,907,000 after purchasing an additional 33,183 shares in the last quarter. Liontrust Investment Partners LLP bought a new position in shares of ServiceTitan in the 2nd quarter worth $2,935,000. Finally, Hudson Bay Capital Management LP bought a new position in shares of ServiceTitan in the 2nd quarter worth $2,144,000.

Analysts Set New Price Targets

TTAN has been the topic of several analyst reports. Citigroup upped their target price on ServiceTitan from $111.00 to $123.00 and gave the company a “neutral” rating in a report on Tuesday, September 9th. TD Securities upped their target price on ServiceTitan from $120.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday, May 21st. Needham & Company LLC reiterated a “buy” rating and issued a $140.00 target price on shares of ServiceTitan in a report on Friday, September 5th. Cowen restated a “buy” rating on shares of ServiceTitan in a report on Wednesday, May 21st. Finally, Raymond James Financial initiated coverage on ServiceTitan in a report on Friday, August 29th. They set a “market perform” rating on the stock. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, ServiceTitan has a consensus rating of “Moderate Buy” and an average 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.