TTAN
Servicetitan, INC
NASDAQ
Form 4: ServiceTitan Director's Affiliated Funds Divest Over 225,000 Class A Common Shares
Sentiment:
Insider Transaction Report
1 July 2025 5:36 PM
Funds affiliated with ServiceTitan, Inc. Director and 10% Owner Byron B. Deeter sold a total of 225,277 shares of Class A Common Stock across two transactions in late June 2025.
Worse than expected
Funds affiliated with a Director and 10% Owner, Byron B. Deeter, divested a substantial number of shares (225,277 shares) of ServiceTitan Class A Common Stock across two transactions. While the sales were by the funds and not directly by the individual, such significant sales by an affiliated entity of a major shareholder can be interpreted as a negative signal by the market.
Summary
- Bessemer Venture Partners VIII L.P. (BVP VIII), Bessemer Venture Partners VIII Institutional L.P. (BVP VIII Inst), and 15 Angels II LLC (collectively, the "Bessemer Funds") sold 118,125 shares of ServiceTitan Class A Common Stock on June 27, 2025.
- The Bessemer Funds sold an additional 107,152 shares of ServiceTitan Class A Common Stock on June 30, 2025.
- The reporting person, Byron B. Deeter, is a partner at Bessemer Venture Partners and holds an indirect, passive economic interest in the shares held by the Bessemer Funds.
- Mr. Deeter disclaims beneficial ownership of the securities held by the Bessemer Funds, except to the extent of his pecuniary interest.
- The reported price for these sales was $0 per share, which is typical for indirect sales by funds where the reporting person disclaims direct beneficial ownership and the actual sale price would be reported by the funds themselves or in other filings.
- Following these transactions, the Bessemer Funds' reported beneficial ownership through the reporting person's indirect interest is 0 shares.
- Mr. Deeter directly holds 1,891 shares of Class A Common Stock received from equity grants issued by ServiceTitan, though he has agreed to assign the rights to these shares or their proceeds to Deer Management Co, LLC.
Sentiment
Score: 4
Explanation: The sentiment is slightly negative due to the significant sale of shares by funds affiliated with a director and 10% owner. While the sales are indirect and the reporting person disclaims full beneficial ownership, large insider-affiliated sales can be perceived as a lack of confidence or a strategic reduction in exposure, outweighing the minor positive of the equity grant.
Positives
- Byron B. Deeter received 1,891 shares of Class A Common Stock from equity grants issued by ServiceTitan, indicating continued compensation from the Issuer.
Negatives
- Funds affiliated with Director and 10% Owner Byron B. Deeter sold a significant aggregate of 225,277 shares of Class A Common Stock, which could be perceived as a negative signal regarding institutional confidence or a strategic reduction in exposure.
Future Outlook
The document does not provide any forward-looking statements or guidance regarding ServiceTitan's future performance.
Industry Context
This Form 4 filing details an insider transaction, specifically the sale of shares by funds affiliated with a director and significant shareholder. Such filings are routine disclosures and do not inherently provide broader industry context or trends, but they can reflect the sentiment of key stakeholders within the industry.
Stakeholder Impact
- Shareholders may view the significant sales by funds affiliated with a director and 10% owner as a potential signal of reduced confidence or a strategic portfolio adjustment, which could influence market perception and share price.
Related Party Transactions
- The sales of 225,277 shares of Class A Common Stock were conducted by Bessemer Venture Partners VIII L.P., Bessemer Venture Partners VIII Institutional L.P., and 15 Angels II LLC (the "Bessemer Funds"). The reporting person, Byron B. Deeter, is a partner at Bessemer Venture Partners and holds an indirect economic interest in these funds, making these transactions related party dealings.
Key Dates
- 06/27/2025: Bessemer Funds sold 118,125 shares of ServiceTitan Class A Common Stock.
- 06/30/2025: Bessemer Funds sold 107,152 shares of ServiceTitan Class A Common Stock.
- 07/01/2025: Date of Form 4 filing by Byron B. Deeter.
Keywords
ServiceTitan, TTAN, SEC Form 4, Insider Trading, Stock Sale, Bessemer Venture Partners, Director, 10% Owner, Equity Grant
TTAN
Servicetitan, INC
NASDAQ
Sector: TBD
Filings with Classifications
Worse than expected
1 July 2025 5:42 PM
Insider Trading Report
- A 10% owner and director, Bessemer Venture Partners, sold a substantial number of shares (225,277 shares) of ServiceTitan Class A Common Stock.
- Insider selling, especially by a significant holder, is generally perceived as a negative signal by the market, suggesting that the insider may believe the stock is fully valued or that better investment opportunities exist elsewhere.
Worse than expected
1 July 2025 5:36 PM
Insider Transaction Report
- Funds affiliated with a Director and 10% Owner, Byron B. Deeter, divested a substantial number of shares (225,277 shares) of ServiceTitan Class A Common Stock across two transactions. While the sales were by the funds and not directly by the individual, such significant sales by an affiliated entity of a major shareholder can be interpreted as a negative signal by the market.
Worse than expected
27 June 2025 7:08 PM
Insider Trading Report
- The document details significant insider selling by Bessemer Venture Partners, a 10% owner and director of ServiceTitan, Inc. Insider selling is generally perceived as a negative signal by the market, suggesting that a key stakeholder is reducing their exposure to the company's stock.
Worse than expected
27 June 2025 7:05 PM
Insider Transaction Report
- The sale of 137,543 shares by entities affiliated with a director and 10% owner is generally viewed as a negative signal by investors, suggesting a potential lack of confidence or a move to realize gains, which can put downward pressure on the stock price.
Worse than expected
12 June 2025 7:56 PM
Insider Transaction Report
- A significant sale of 500,000 shares by a 10% owner and director, Bessemer Venture Partners, could signal a lack of confidence or a strategic portfolio rebalancing, potentially leading to negative market perception.
Capital raise
12 June 2025 4:49 PM
Quarterly Report
- The company states, "We may be required to seek additional equity or debt financing."
- It notes that future capital requirements will depend on various factors, including business challenges, product enhancements, infrastructure improvements, and potential acquisitions.
- The company evaluates financing opportunities and acknowledges that obtaining additional financing on acceptable terms may not always be possible.
Better than expected
12 June 2025 4:49 PM
Quarterly Report
- Revenue growth of 27% significantly outpaced the prior year's comparable period.
- Net loss decreased by $9.7 million, indicating improved financial performance.
- Gross profit increased by 40%, and gross margins improved across the board, reflecting operational efficiencies.
- Net cash used in operating activities decreased, and non-GAAP free cash flow improved, showing better cash management.
- Gross Transaction Volume (GTV) increased by $3.2 billion, and the net dollar retention rate remained strong at over 110%, indicating robust customer adoption and expansion.
Better than expected
5 June 2025 4:07 PM
Quarterly Financial Results
- Total revenue grew 27% year-over-year to $215.7 million, exceeding the prior year's growth rate.
- Non-GAAP income from operations significantly increased to $16.2 million from $3.3 million in the prior year, indicating substantial improvement in core profitability.
- Non-GAAP operating margin improved to 7.5% from 1.9% year-over-year, reflecting enhanced operational efficiency.
- GAAP loss from operations decreased to $(49.5) million from $(53.4) million, showing a reduction in overall losses.
- Net cash used in operating activities improved to $(14.6) million from $(19.2) million, indicating a reduced cash burn.
Worse than expected
1 April 2025 9:28 PM
Annual Results
- The company's net loss increased from $195.1 million in fiscal year 2024 to $239.1 million in fiscal year 2025.
Better than expected
13 March 2025 4:06 PM
Earnings Release
- The company's revenue growth exceeded expectations, with a 29% increase in Q4 and a 26% increase for the full year.
- Non-GAAP profitability improved significantly, with a shift from a loss to income from operations for both Q4 and the full year.
- Net dollar retention remained high, indicating strong customer satisfaction and upselling opportunities.
Worse than expected
14 January 2025 5:10 PM
Quarterly Report
- The net loss increased from $39.7 million to $46.5 million year-over-year.
Better than expected
13 January 2025 4:05 PM
Earnings Release
- The company's non-GAAP income from operations turned positive, indicating improved profitability.
- Net cash generated from operating activities significantly increased, showcasing better cash management.
- Non-GAAP free cash flow improved, reflecting stronger financial health.
Worse than expected
10 December 2024 6:12 AM
S-1/A Filing
- The company's loss from operations increased by approximately 20% to 26% for the three months ended October 31, 2024 compared to the three months ended October 31, 2023.
Capital raise
10 December 2024 6:12 AM
S-1/A Filing
- ServiceTitan is conducting an initial public offering of its Class A common stock.
- The company intends to use approximately $310.6 million of the net proceeds from this offering to redeem all outstanding shares of its non-convertible preferred stock.
- The remaining net proceeds will be used for general corporate purposes, including working capital, operating expenses, and capital expenditures.
- The company may also use a portion of the net proceeds to acquire or invest in businesses, products, services, or technologies.
Capital raise
3 December 2024 6:06 AM
S-1/A Filing
- The company is conducting an initial public offering of shares of its Class A common stock.
- The company plans to use approximately $310.6 million of the net proceeds from this offering to redeem all outstanding shares of its non-convertible preferred stock.
- The remaining net proceeds will be used for general corporate purposes, including working capital, operating expenses and capital expenditures.
- The company may also use a portion of the net proceeds to acquire or invest in businesses, products, services or technologies.
Worse than expected
3 December 2024 6:06 AM
S-1/A Filing
- The company has a history of losses and may not be able to achieve or sustain profitability in the future.
Worse than expected
18 November 2024 11:01 AM
S-1 Filing
- The company experienced a net loss of $195.1 million for fiscal year 2024, which is worse than expected for a company of this size.
Capital raise
18 November 2024 11:01 AM
S-1 Filing
- ServiceTitan has filed an S-1 registration statement for its initial public offering.
- The company intends to use approximately $ million of the net proceeds from this offering to redeem all outstanding shares of its non-convertible preferred stock.
- The remaining net proceeds will be used for general corporate purposes, including working capital, operating expenses and capital expenditures.
- The company may also use a portion of the net proceeds to acquire or invest in businesses, products, services or technologies.
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