Form 4: Bessemer Venture Partners Divests Over 93,000 ServiceTitan Shares in Scheduled Transactions

Bessemer Venture Partners, a 10% owner and director of ServiceTitan, Inc., reported the sale of 93,648 shares of Class A Common Stock over two days in July 2025, executed under a Rule 10b5-1 trading plan.

Summary

• Bessemer Venture Partners VIII L.P. and its affiliated entities, including Bessemer Venture Partners VIII Institutional L.P. and 15 Angels II LLC, reported sales of ServiceTitan, Inc. (TTAN) Class A Common Stock.
• On July 10, 2025, a total of 84,942 shares were sold at weighted average prices ranging from $111.05 to $112.59.
• On July 11, 2025, an additional 8,706 shares were sold at a weighted average price of $110.24.
• The total number of shares sold across both dates was 93,648.
• These transactions were conducted pursuant to a Rule 10b5-1(c) trading plan.
• Following these sales, the primary reporting person, Bessemer Venture Partners VIII L.P., beneficially owns 7,966,334 shares of Class A Common Stock. Footnote details indicate that Bessemer Venture Partners VIII L.P., Bessemer Venture Partners VIII Institutional L.P., 15 Angels II LLC, and Cloud All Star Fund, L.P. collectively own 8,155,494 shares.

Sentiment

Score: 4

Explanation: The sale of a significant number of shares by a 10% owner and director is generally viewed as a negative signal. However, the fact that it was executed under a Rule 10b5-1 plan mitigates the negative impact, suggesting a pre-planned divestment rather than a reactive sale based on new adverse information.

Positives

• Transactions were executed under a Rule 10b5-1(c) trading plan, indicating pre-scheduled sales rather than reactive market timing based on new, non-public information.

Negatives

• Significant insider selling by a 10% owner and director, with a total of 93,648 shares of Class A Common Stock divested.
• The sales occurred at prices ranging from $110.00 to $112.70, potentially signaling a belief that the stock price is at an opportune level for divestment by the selling entity.

Risks

• Insider selling, even if pre-scheduled, can be interpreted by the market as a signal of reduced confidence in the company's near-term growth prospects or valuation by a significant shareholder.
• The divestment by a major institutional investor and director could lead to negative market sentiment or increased selling pressure on ServiceTitan's stock.

Future Outlook

The document does not provide any forward-looking statements or guidance regarding ServiceTitan's future performance or strategic direction.

Industry Context

This Form 4 filing reflects a routine insider transaction by a significant institutional investor and director. Such transactions are common for venture capital firms managing their portfolio exits or rebalancing, and do not inherently indicate broader industry trends or competitive shifts unless accompanied by other strategic announcements.

Comparison to Industry Standards

• As a standard Form 4 filing detailing insider stock sales, direct comparisons to specific industry benchmarks or competitor results are not applicable. The transaction is specific to the reporting person's portfolio management strategy rather than ServiceTitan's operational performance against peers.

Related Party Transactions

• Bessemer Venture Partners VIII L.P. and its affiliates (Bessemer Venture Partners VIII Institutional L.P., 15 Angels II LLC, Cloud All Star Fund, LP, Deer VIII & Co. Ltd., Deer VIII & Co. L.P.) are identified as 10% owners and directors of ServiceTitan, Inc., making these stock sales related party transactions.

Stakeholder Impact

• Shareholders may perceive the insider selling as a negative signal, potentially leading to a decrease in investor confidence or increased selling pressure on the stock.
• The pre-scheduled nature of the sales via a 10b5-1 plan may alleviate some concerns by indicating a planned portfolio adjustment rather than a reaction to adverse company-specific news.

Next Steps

• The reporting person undertakes to provide full information regarding the number of shares sold at each separate price within the reported ranges upon request to the Issuer, any security holder, or the SEC staff.

Key Dates

Recommendation

Keywords

ServiceTitan, TTAN, SEC Form 4, Insider Selling, Beneficial Ownership, Bessemer Venture Partners, Class A Common Stock, Rule 10b5-1, Institutional Investor