BILL (NYSE:BILL) Shares Gap Down After Earnings Miss

BILL Holdings, Inc. (NYSE:BILL) gapped down before the market opened on Friday following a weaker than expected earnings announcement. The stock had previously closed at $96.35, but opened at $64.88. BILL shares last traded at $66.45, with a volume of 11,451,030 shares changing hands.

The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.38). BILL had a return on equity of 1.54% and a net margin of 0.59%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on BILL. Mizuho boosted their price objective on shares of BILL from $64.00 to $75.00 and gave the stock a “neutral” rating in a report on Friday, December 13th. Susquehanna boosted their target price on BILL from $91.00 to $100.00 and gave the company a “positive” rating in a research note on Tuesday, January 7th. Wells Fargo & Company dropped their target price on BILL from $65.00 to $57.00 and set an “underweight” rating for the company in a report on Friday. The Goldman Sachs Group lowered their price objective on BILL from $104.00 to $90.00 and set a “buy” rating for the company in a research report on Friday. Finally, Canaccord Genuity Group restated a “buy” rating and issued a $105.00 target price on shares of BILL in a report on Friday. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, BILL has an average rating of “Moderate Buy” and an average price target of $81.95.

Insider Activity at BILL

In related news, Director Alison Wagonfeld sold 779 shares of the company’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $90.00, for a total transaction of $70,110.00. Following the completion of the transaction, the director now owns 259 shares in the company, valued at approximately $23,310. This represents a 75.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On BILL

Large investors have recently made changes to their positions in the company. Handelsbanken Fonder AB boosted its position in shares of BILL by 27.8% during the 3rd quarter. Handelsbanken Fonder AB now owns 27,156 shares of the company’s stock valued at $1,433,000 after acquiring an additional 5,900 shares during the last quarter. Private Advisory Group LLC bought a new position in shares of BILL during the 3rd quarter valued at approximately $3,344,000. Washington Capital Management Inc. bought a new position in shares of BILL during the 3rd quarter valued at approximately $274,000. Aaron Wealth Advisors LLC bought a new position in shares of BILL during the 3rd quarter valued at approximately $220,000. Finally, Blue Trust Inc. increased its holdings in shares of BILL by 1,167.5% in the 3rd quarter. Blue Trust Inc. now owns 1,914 shares of the company’s stock worth $101,000 after buying an additional 1,763 shares during the last quarter. 97.99% of the stock is owned by institutional investors.

BILL Stock Performance

The business’s fifty day moving average price is $89.50 and its two-hundred day moving average price is $69.34. 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 stock has a market capitalization of $6.46 billion, a P/E ratio of -189.08, a P/E/G ratio of 164.86 and a beta of 1.76.

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.