BILL (NYSE:BILL) Shares Down 2.7% – Here’s What Happened

BILL Holdings, Inc. (NYSE:BILL)’s share price was down 2.7% during mid-day trading on Tuesday . The company traded as low as $87.04 and last traded at $87.04. Approximately 1,479,986 shares traded hands during mid-day trading, a decline of 27% from the average daily volume of 2,025,952 shares. The stock had previously closed at $89.45.

Wall Street Analysts Forecast Growth

BILL has been the subject of a number of analyst reports. Piper Sandler increased their target price on shares of BILL from $60.00 to $85.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. KeyCorp raised BILL from a “sector weight” rating to an “overweight” rating and set a $115.00 price objective for the company in a research report on Wednesday, December 18th. Robert W. Baird upped their target price on BILL from $74.00 to $100.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. BNP Paribas raised 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. Finally, Oppenheimer boosted their price target on BILL from $70.00 to $83.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, BILL currently has an average rating of “Hold” and an average target price of $83.79.

BILL Stock Down 2.7 %

The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.53 and a current ratio of 1.53. The business’s 50 day moving average price is $79.03 and its 200 day moving average price is $61.16. The firm has a market cap of $9.01 billion, a price-to-earnings ratio of -263.76 and a beta of 1.71.

Insider Activity at BILL

In related news, SVP Germaine Cota sold 1,525 shares of the company’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $77.99, for a total value of $118,934.75. Following the completion of the transaction, the senior vice president now owns 5,348 shares of the company’s stock, valued at approximately $417,090.52. This represents a 22.19 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Alison Wagonfeld sold 519 shares of the firm’s stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $57.50, for a total value of $29,842.50. Following the completion of the sale, the director now directly owns 1,038 shares in the company, valued at approximately $59,685. The trade was a 33.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,823 shares of company stock worth $218,887. 4.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On BILL

A number of large investors have recently added to or reduced their stakes in BILL. Brooklyn Investment Group acquired a new position in shares of BILL during the 3rd quarter worth about $28,000. Advisors Asset Management Inc. increased its stake in BILL by 30.8% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,101 shares of the company’s stock worth $58,000 after buying an additional 259 shares in the last quarter. Venturi Wealth Management LLC raised its holdings in shares of BILL by 377.8% during the third quarter. Venturi Wealth Management LLC now owns 1,290 shares of the company’s stock valued at $68,000 after acquiring an additional 1,020 shares during the last quarter. Covestor Ltd lifted its position in shares of BILL by 15.1% in the third quarter. Covestor Ltd now owns 1,897 shares of the company’s stock valued at $100,000 after acquiring an additional 249 shares in the last quarter. Finally, Blue Trust Inc. boosted its stake in shares of BILL by 1,167.5% in the third quarter. Blue Trust Inc. now owns 1,914 shares of the company’s stock worth $101,000 after acquiring an additional 1,763 shares during the last quarter. 97.99% of the stock is currently owned by institutional investors and hedge funds.

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.