[144/A] ServiceTitan, Inc. SEC Filing
ServiceTitan, Inc. – Form 144/A (Notice of Proposed Sale of Securities)
On 26 June 2025, 10 % stockholder 15 Angels II LLC filed a Form 144/A with the SEC disclosing its intent to sell 299 Class A common shares of ServiceTitan, Inc. The shares are to be executed through Merrill Lynch Pierce Fenner & Smith on or about 25 June 2025 on the Nasdaq exchange. At the indicated aggregate market value of $31,676.06, the implied sale price is roughly $105.6 per share.
The planned sale represents an immaterial 0.0004 % of the company’s outstanding 77,266,756 Class A shares, suggesting no meaningful dilution or ownership shift. The shares were originally acquired in a private placement dated 15 March 2015 and were purchased for cash.
The filing also lists insider sales completed within the past three months:
- Bessemer Venture Partners VIII, L.P. – 221,596 shares sold for $22.60 million
- Bessemer Venture Partners VIII Institutional L.P. – 266,502 shares sold for $27.18 million
- 15 Angels II LLC – 11,902 shares sold for $1.21 million
The filer certifies that it possesses no undisclosed material adverse information regarding ServiceTitan’s operations. Overall, the notice is routine and primarily signals continued—but small-scale—liquidity activity by a significant holder rather than any fundamental change to the company’s outlook.
- None.
- Continued insider selling by a 10 % stockholder (15 Angels II LLC) could be interpreted as a modest negative signal, even though the volume is tiny.
Insights
TL;DR: 10 % holder plans to sell 299 shares; volume is negligible, impact neutral.
The filing reveals a microscopic disposition—299 shares—against a 77 million-share base, translating to effectively zero dilution. While 15 Angels II LLC recently sold 11,902 shares, the cumulative volume remains immaterial and unlikely to affect liquidity or sentiment. No valuation, earnings or operational data accompany the notice, so there are no fundamentals to reassess. I view the disclosure as routine compliance rather than a directional signal.
TL;DR: Routine Form 144/A shows transparent, minor insider selling; governance implications minimal.
From a governance standpoint, the key point is transparency. Management and large shareholders are following Rule 144 disclosure rules, which is positive. However, continued selling by a 10 % holder may raise mild perception issues, albeit the size (299 shares) makes any inference weak. There is no indication of undisclosed adverse information—explicitly certified in the filing. I classify the event as administratively routine with no governance red flags.