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

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

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on BILL shares. Robert W. Baird lifted their target price on shares of BILL from $74.00 to $100.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Keefe, Bruyette & Woods increased their target price on BILL from $75.00 to $100.00 and gave the company a “market perform” rating in a research note on Monday, December 9th. BNP Paribas raised BILL from a “neutral” rating to an “outperform” rating and set a $90.00 price target on the stock in a research report on Thursday, September 12th. Mizuho lifted their price objective on shares of BILL from $64.00 to $75.00 and gave the company a “neutral” rating in a research note on Friday, December 13th. Finally, The Goldman Sachs Group upped their target price on shares of BILL from $77.00 to $96.00 and gave the company a “neutral” rating in a research note on Monday, December 2nd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $83.79.

BILL Price Performance

The stock has a 50-day moving average of $77.78 and a two-hundred day moving average of $60.72. The company has a current ratio of 1.53, a quick ratio of 1.53 and a debt-to-equity ratio of 0.23. The firm has a market cap of $9.01 billion, a price-to-earnings ratio of -263.76 and a beta of 1.71.

Insiders Place Their Bets

In related news, Director Alison Wagonfeld sold 779 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $90.00, for a total value of $70,110.00. Following the completion of the sale, the director now owns 259 shares of the company’s stock, valued at approximately $23,310. The trade was a 75.05 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Germaine Cota sold 1,525 shares of the firm’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $77.99, for a total transaction of $118,934.75. Following the transaction, the senior vice president now owns 5,348 shares in the company, valued at $417,090.52. This represents a 22.19 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,823 shares of company stock worth $218,887 in the last quarter. 4.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Abdiel Capital Advisors LP raised its stake in BILL by 48.2% during the 3rd quarter. Abdiel Capital Advisors LP now owns 5,121,139 shares of the company’s stock valued at $270,191,000 after purchasing an additional 1,666,316 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in BILL by 70.7% during the second quarter. Dimensional Fund Advisors LP now owns 1,388,441 shares of the company’s stock valued at $73,049,000 after acquiring an additional 575,084 shares during the period. Two Sigma Advisers LP lifted its position in shares of BILL by 87.0% in the 3rd quarter. Two Sigma Advisers LP now owns 690,800 shares of the company’s stock worth $36,447,000 after acquiring an additional 321,400 shares during the period. Assenagon Asset Management S.A. grew its holdings in shares of BILL by 297.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 380,640 shares of the company’s stock worth $20,083,000 after purchasing an additional 284,935 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of BILL by 45.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 895,833 shares of the company’s stock valued at $47,264,000 after purchasing an additional 279,256 shares during the period. 97.99% of the stock is currently owned by institutional investors and hedge funds.

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.