ICONIQ Strategic Partners, a key investor in ServiceTitan (TTAN), has disclosed the sale of Class A Common Stock valued at approximately $6,001,191. The transactions were executed across two trading days, June 22 and June 23, 2026, and were reported in a recent Form 4 filing submitted to the U.S. Securities and Exchange Commission. These sales represent a strategic adjustment in holdings as ServiceTitan trades at $65.03, a price point that reflects a roughly 40% decline over the past six months. Despite this market correction, analysis suggests the company remains undervalued, maintaining a "GOOD" financial health rating and a $6.12 billion market capitalization.
The divestment involved two related entities: ICONIQ Strategic Partners V, L.P., and ICONIQ Strategic Partners V-B, L.P., both classified as ten percent owners of ServiceTitan. On June 22, the first tranche of 200 shares was sold at $63.01 per share. The majority of the activity occurred on June 23, with 94,415 shares sold at weighted average prices ranging from $63.00 to $64.275. Specifically, 39,739 shares from ICONIQ Strategic Partners V, L.P. and 53,295 shares from ICONIQ Strategic Partners V-B, L.P. were sold at a weighted average price of $63.4172, with individual transactions occurring between $63.00 and $63.91. Additionally, 590 shares from ICONIQ Strategic Partners V, L.P. and 791 shares from ICONIQ Strategic Partners V-B, L.P. were sold at a weighted average price of $64.1806, with individual transactions between $64.09 and $64.275.
The filing indicates that ICONIQ Strategic Partners V GP, L.P. serves as the general partner for ICONIQ Strategic Partners V, L.P. and ICONIQ Strategic Partners V-B, L.P., among other related funds. ICONIQ Strategic Partners V TT GP, Ltd. is the general partner of ICONIQ V GP. Divesh Makan, William J.G. Griffith, and Matthew Jacobson are noted as the sole equity holders of ICONIQ V Parent GP. These entities and individuals disclaim beneficial ownership of the reported securities, except to the extent of their pecuniary interest. Following these transactions, ICONIQ Strategic Partners V, L.P. holds 443,221 shares of Class A Common Stock, and ICONIQ Strategic Partners V-B, L.P. holds 594,405 shares. Other related ICONIQ entities also maintain significant indirect holdings in ServiceTitan, including ICONIQ Strategic Partners II, L.P. with 3,603,256 shares, and ICONIQ Strategic Partners III, L.P. with 735,893 shares. Separately, Divesh Makan indirectly holds 357,747 shares through trusts, and Matthew Jacobson indirectly holds 112,158 shares through a trust, both disclaiming beneficial ownership except for their pecuniary interest.
Investors seeking deeper insights can access ServiceTitan’s comprehensive Pro Research Report on InvestingPro, one of 1,400+ US equities covered. The platform reveals that analysts maintain a bullish stance with a consensus "Buy" rating, while InvestingPro offers 6 additional exclusive tips beyond the company’s strong 24% revenue growth. In other recent news, ServiceTitan has released performance data for its Max software, indicating significant improvements in call booking and close rates compared to industry peers. The company reports that businesses using Max have seen call booking rates increase by over 500 basis points and close rates by over 1,000 basis points. Additionally, ServiceTitan held its Annual Meeting of Stockholders, where shareholders elected three Class II directors, Michael Brown, Byron Deeter, and Vahe Kuzoyan, to serve until the 2029 Annual Meeting. In analyst updates, Truist Securities reiterated a Buy rating on ServiceTitan, citing positive impressions from a customer site visit and the potential for increased customer engagement. Similarly, KeyBanc maintained its Overweight rating, highlighting the company’s focus on artificial intelligence and the promising opportunity presented by the Max software. Furthermore, a regulatory filing revealed that Michele O’Connor, ServiceTitan’s Chief Accounting Officer, sold 10,000 shares of Class A Common Stock. These developments reflect the company’s ongoing activities and strategic initiatives.