BILL Holdings, Inc. (NYSE:BILL) Short Interest Update

BILL Holdings, Inc. (NYSE:BILL) was the target of a large decline in short interest in the month of September. As of September 30th, there was short interest totalling 3,600,000 shares, a decline of 5.3% from the September 15th total of 3,800,000 shares. Based on an average daily volume of 1,820,000 shares, the days-to-cover ratio is presently 2.0 days.

Insider Buying and Selling at BILL

In other BILL news, CEO Rene A. Lacerte acquired 42,248 shares of the stock in a transaction dated Monday, August 26th. The shares were purchased at an average price of $49.60 per share, for a total transaction of $2,095,500.80. Following the purchase, the chief executive officer now directly owns 184,249 shares of the company’s stock, valued at approximately $9,138,750.40. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. In related news, CEO Rene A. Lacerte acquired 42,248 shares of BILL stock in a transaction dated Monday, August 26th. The stock was purchased at an average cost of $49.60 per share, for a total transaction of $2,095,500.80. Following the purchase, the chief executive officer now directly owns 184,249 shares of the company’s stock, valued at approximately $9,138,750.40. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Rajesh A. Aji sold 2,486 shares of BILL stock in a transaction on Friday, August 30th. The shares were sold at an average price of $54.73, for a total value of $136,058.78. Following the transaction, the insider now owns 7,812 shares in the company, valued at $427,550.76. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders bought a total of 68,372 shares of company stock worth $3,404,826 in the last three months. 3.80% of the stock is currently owned by company insiders.

Institutional Trading of BILL

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Washington Capital Management Inc. bought a new position in BILL during the third quarter valued at $274,000. Private Advisory Group LLC bought a new position in BILL during the 3rd quarter valued at about $3,344,000. Handelsbanken Fonder AB raised its position in BILL by 27.8% in the 3rd quarter. Handelsbanken Fonder AB now owns 27,156 shares of the company’s stock worth $1,433,000 after purchasing an additional 5,900 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new stake in BILL in the second quarter worth about $268,000. Finally, Clearline Capital LP boosted its position in shares of BILL by 201.6% during the second quarter. Clearline Capital LP now owns 344,751 shares of the company’s stock valued at $18,141,000 after buying an additional 230,435 shares during the period. Hedge funds and other institutional investors own 97.99% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on BILL shares. UBS Group lowered their price target on shares of BILL from $85.00 to $65.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. Needham & Company LLC restated a “buy” rating and set a $100.00 target price on shares of BILL in a research note on Friday, August 23rd. JPMorgan Chase & Co. dropped their target price on shares of BILL from $80.00 to $60.00 and set an “overweight” rating for the company in a report on Tuesday, August 20th. Robert W. Baird decreased their price target on BILL from $68.00 to $60.00 and set a “neutral” rating on the stock in a report on Friday, August 23rd. Finally, Keefe, Bruyette & Woods dropped their price objective on BILL from $60.00 to $55.00 and set a “market perform” rating for the company 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 ten have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $70.59.

BILL Stock Performance

BILL stock opened at $55.54 on Thursday. The company’s 50-day moving average price is $52.31 and its 200-day moving average price is $53.98. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.22. The company has a market cap of $5.89 billion, a PE ratio of -70.30 and a beta of 1.61. BILL has a twelve month low of $43.11 and a twelve month high of $113.01.

BILL (NYSE:BILL) last issued its quarterly earnings data 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. The company had revenue of $343.67 million for the quarter, compared to analysts’ expectations of $328.27 million. BILL had a positive return on equity of 1.13% and a negative net margin of 2.24%. The firm’s revenue for the quarter was up 16.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.10 earnings per share. On average, equities research analysts forecast that BILL will post -0.58 EPS for the current fiscal year.

BILL Company Profile

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.