Insider Selling: ServiceTitan (NASDAQ:TTAN) Major Shareholder Sells 28,245 Shares of Stock

ServiceTitan Inc. (NASDAQ:TTAN) major shareholder Bessemer Venture Partners Viii sold 28,245 shares of the firm’s stock in a transaction that occurred on Friday, September 19th. The shares were sold at an average price of $118.21, for a total value of $3,338,841.45. Following the completion of the transaction, the insider owned 7,131,050 shares of the company’s stock, valued at approximately $842,961,420.50. This represents a 0.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Bessemer Venture Partners Viii also recently made the following trade(s):

• On Wednesday, September 17th, Bessemer Venture Partners Viii sold 7,039 shares of ServiceTitan stock. The shares were sold at an average price of $117.32, for a total value of $825,815.48.
• 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 stock was 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 shares were 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 stock was 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 shares were 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 value 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 value 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 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.

ServiceTitan Trading Down 0.3%

Shares of ServiceTitan stock opened at $103.53 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.49 and a quick ratio of 4.49. The business has a fifty day simple moving average of $110.03 and a two-hundred day simple moving average of $108.93. ServiceTitan Inc. has a 1 year low of $79.81 and a 1 year high of $131.33. The company has a market capitalization of $9.62 billion and a price-to-earnings ratio of -19.17.

Analyst Ratings Changes

Several brokerages recently commented on TTAN. Truist Financial lifted their target price on shares of ServiceTitan from $120.00 to $130.00 and gave the stock a “buy” rating in a report on Friday, September 5th. Morgan Stanley boosted their price objective on ServiceTitan from $109.00 to $118.00 and gave the stock an “equal weight” rating in a report on Friday, September 5th. Citigroup increased their target price on ServiceTitan from $111.00 to $123.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 9th. Canaccord Genuity Group lifted their price target on ServiceTitan from $130.00 to $140.00 and gave the stock a “buy” rating in a report on Friday, September 19th. Finally, BMO Capital Markets began coverage on ServiceTitan in a research note on Thursday, August 28th. They issued an “outperform” rating and a $129.00 price target for the company. One investment 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 stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $132.67.

Institutional Investors Weigh In On ServiceTitan

Several institutional investors have recently made changes to their positions in the stock. Jane Street Group LLC acquired a new stake in ServiceTitan during the fourth quarter worth approximately $529,000. Bank of America Corp DE acquired a new stake in shares of ServiceTitan during the 4th quarter worth $540,000. Nuveen Asset Management LLC bought a new position in shares of ServiceTitan in the fourth quarter worth $7,793,000. Squarepoint Ops LLC acquired a new position in ServiceTitan in the fourth quarter valued at about $3,482,000. Finally, Woodline Partners LP bought a new stake in ServiceTitan during the fourth quarter worth about $210,000.

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.