Form 4: Bessemer Venture Partners Reduces Stake in ServiceTitan, Selling Over 137,000 Shares

Bessemer Venture Partners, a 10% owner and director of ServiceTitan, Inc. (TTAN), has reported the sale of 137,543 shares of Class A Common Stock across multiple transactions in late June 2025.

Summary

• Bessemer Venture Partners VIII L.P., Bessemer Venture Partners VIII Institutional L.P., and 15 Angels II LLC, all affiliated entities, collectively sold 137,543 shares of ServiceTitan, Inc. Class A Common Stock.
• On June 25, 2025, 12,543 shares were sold at a weighted average price of $105.43, with prices ranging from $105.02 to $105.59.
• On June 26, 2025, an additional 60,631 shares were sold at a weighted average price of $105.51, with prices ranging from $105.00 to $105.99.
• Also on June 26, 2025, a further 64,369 shares were sold at a weighted average price of $106.20, with prices ranging from $106.00 to $106.59.
• Following these sales, the combined beneficial ownership of Bessemer Venture Partners VIII L.P., Bessemer Venture Partners VIII Institutional L.P., 15 Angels II LLC, and Cloud All Star Fund, L.P. in ServiceTitan, Inc. Class A Common Stock stands at 8,366,028 shares.
• The sales were executed pursuant to a Rule 10b5-1 trading plan.

Sentiment

Score: 3

Explanation: The sentiment is negative due to significant insider selling by a major institutional investor and director, which can signal a lack of confidence or a strategic portfolio rebalancing away from the company.

Negatives

• A significant institutional investor and 10% owner, Bessemer Venture Partners, has reduced its stake in ServiceTitan, Inc. by selling 137,543 shares.
• Insider selling, especially by a major shareholder and director, can be perceived negatively by the market as it may signal a lack of confidence in the company's near-term prospects.

Risks

• Potential negative market reaction and downward pressure on ServiceTitan's stock price due to the reported insider selling.
• Investor sentiment may be impacted by a major institutional investor reducing its position.

Future Outlook

This Form 4 filing does not contain any forward-looking statements or guidance regarding the company's future outlook.

Industry Context

This filing reports specific insider trading activity by a major institutional investor in ServiceTitan, Inc. and does not provide broader industry trends or context.

Related Party Transactions

• The filing details sales of Class A Common Stock by multiple affiliated entities: Bessemer Venture Partners VIII L.P., Bessemer Venture Partners VIII Institutional L.P., and 15 Angels II LLC. These entities are all part of the broader Bessemer Venture Partners group, with common general partners and directors (e.g., Deer VIII & Co. Ltd. and its directors) holding voting and dispositive power over the shares.

Stakeholder Impact

• Shareholders: May interpret the insider selling as a negative signal, potentially leading to decreased investor confidence and downward pressure on the stock price.

Key Dates

Recommendation

Keywords

ServiceTitan, TTAN, SEC Form 4, insider trading, beneficial ownership, stock sale, Bessemer Venture Partners, institutional investor, Class A Common Stock