Short Interest in BILL Holdings, Inc. (NYSE:BILL) Increases By 21.8%

BILL Holdings, Inc. (NYSE:BILL) was the target of a large growth in short interest during the month of September. As of September 15th, there was short interest totalling 3,800,000 shares, a growth of 21.8% from the August 31st total of 3,120,000 shares. Based on an average trading volume of 1,820,000 shares, the days-to-cover ratio is presently 2.1 days.

Analyst Upgrades and Downgrades

BILL has been the subject of a number of analyst reports. BNP Paribas raised shares of BILL from a “neutral” rating to an “outperform” rating and set a $90.00 price target for the company in a report on Thursday, September 12th. Robert W. Baird cut their target price on BILL from $68.00 to $60.00 and set a “neutral” rating on the stock in a research report on Friday, August 23rd. BMO Capital Markets lowered their price target on BILL from $75.00 to $57.00 and set a “market perform” rating for the company in a research report on Monday, August 26th. Keefe, Bruyette & Woods cut their price target on shares of BILL from $60.00 to $55.00 and set a “market perform” rating on the stock in a report on Friday, August 23rd. Finally, The Goldman Sachs Group downgraded shares of BILL from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $86.00 to $54.00 in a research note on Friday, August 23rd. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $70.24.

Insider Transactions at BILL

In other news, CFO John R. Rettig bought 21,124 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were bought at an average price of $49.40 per share, for a total transaction of $1,043,525.60. Following the purchase, the chief financial officer now owns 80,474 shares in the company, valued at $3,975,415.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, SVP Germaine Cota sold 803 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $54.75, for a total transaction of $43,964.25. Following the sale, the senior vice president now directly owns 6,861 shares of the company’s stock, valued at approximately $375,639.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO John R. Rettig purchased 21,124 shares of BILL stock in a transaction that occurred on Monday, August 26th. The stock was acquired at an average price of $49.40 per share, for a total transaction of $1,043,525.60. Following the transaction, the chief financial officer now directly owns 80,474 shares of the company’s stock, valued at approximately $3,975,415.60. The disclosure for this purchase can be found here. Insiders have acquired 68,372 shares of company stock worth $3,404,826 in the last 90 days. 3.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of BILL in the 2nd quarter valued at about $268,000. Clearline Capital LP grew its holdings in BILL by 201.6% in the second quarter. Clearline Capital LP now owns 344,751 shares of the company’s stock valued at $18,141,000 after purchasing an additional 230,435 shares during the period. Algert Global LLC increased its position in shares of BILL by 602.3% in the second quarter. Algert Global LLC now owns 61,518 shares of the company’s stock valued at $3,237,000 after buying an additional 52,758 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in shares of BILL during the 2nd quarter worth approximately $3,440,000. Finally, Scientech Research LLC purchased a new position in shares of BILL during the 2nd quarter valued at approximately $490,000. Hedge funds and other institutional investors own 97.99% of the company’s stock.

BILL Stock Performance

BILL stock traded down $0.43 during midday trading on Monday, reaching $52.75. The stock had a trading volume of 904,078 shares, compared to its average volume of 1,982,344. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.55 and a current ratio of 1.55. The firm has a fifty day simple moving average of $51.16 and a two-hundred day simple moving average of $55.06. The stock has a market cap of $5.60 billion, a PE ratio of -67.32 and a beta of 1.61. BILL has a 52-week low of $43.11 and a 52-week high of $118.69.

BILL (NYSE:BILL) last issued its quarterly earnings results on Thursday, August 22nd. The company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.11. BILL had a negative net margin of 2.24% and a positive return on equity of 1.13%. The company had revenue of $343.67 million for the quarter, compared to the consensus estimate of $328.27 million. During the same quarter in the prior year, the company earned $0.10 EPS. BILL’s quarterly revenue was up 16.1% on a year-over-year basis. As a group, equities research analysts anticipate that BILL will post -0.58 EPS for the current year.

About BILL

BILL Holdings, Inc provides financial automation software for small and midsize businesses worldwide. The company provides software-as-a-service, cloud-based payments, and spend management products, which allow users to automate accounts payable and accounts receivable transactions, as well as enable users to connect with their suppliers and/or customers to do business, eliminate expense reports, manage cash flows, and improve office efficiency.