Insider Selling: ServiceTitan (NASDAQ:TTAN) Major Shareholder Sells 7,048 Shares of Stock

ServiceTitan Inc. (NASDAQ:TTAN) major shareholder Bessemer Venture Partners Viii sold 7,048 shares of the stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $117.10, for a total transaction of $825,320.80. Following the transaction, the insider owned 7,233,517 shares in the company, valued at approximately $847,044,840.70. The trade was a 0.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Major 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 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 stock was 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 stock was sold at an average price of $117.79, for a total transaction 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 transaction 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 transaction 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 transaction 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 transaction 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 transaction 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 transaction 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 transaction of $11,635,635.68.

ServiceTitan Stock Down 3.2%

NASDAQ:TTAN opened at $113.37 on Friday. ServiceTitan Inc. has a fifty-two week low of $79.81 and a fifty-two week high of $131.33. The stock has a market capitalization of $10.28 billion and a P/E ratio of -20.99. The company has a debt-to-equity ratio of 0.07, a quick ratio of 4.82 and a current ratio of 4.49. The company’s 50-day simple moving average is $109.74 and its 200-day simple moving average is $107.63.

Hedge Funds Weigh In On ServiceTitan

Several hedge funds and other institutional investors have recently modified their holdings of TTAN. Jane Street Group LLC purchased a new position in shares of ServiceTitan in the 4th quarter valued at approximately $529,000. Bank of America Corp DE purchased a new position in shares of ServiceTitan in the 4th quarter valued at approximately $540,000. D. E. Shaw & Co. Inc. purchased a new position in shares of ServiceTitan in the 4th quarter valued at approximately $1,543,000. Janus Henderson Group PLC purchased a new position in ServiceTitan during the 4th quarter worth approximately $2,816,000. Finally, Millennium Management LLC purchased a new position in ServiceTitan during the 4th quarter worth approximately $11,111,000.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on TTAN shares. KeyCorp set a $140.00 price target on shares of ServiceTitan and gave the company an “overweight” rating in a report on Wednesday, July 16th. Stifel Nicolaus raised their price target on shares of ServiceTitan from $125.00 to $135.00 and gave the company a “buy” rating in a report on Friday, September 5th. Citigroup raised their price target on shares of ServiceTitan from $111.00 to $123.00 and gave the company a “neutral” rating in a report on Tuesday. Wells Fargo & Company raised their price target on shares of ServiceTitan from $125.00 to $130.00 and gave the company an “overweight” rating in a report on Friday, September 5th. Finally, BMO Capital Markets started coverage on shares of ServiceTitan in a research report on Thursday, August 28th. They issued an “outperform” rating and a $129.00 price objective 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. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $130.67.

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.