BILL Holdings, Inc. (NYSE:BILL) Sees Significant Drop in Short Interest

BILL Holdings, Inc. (NYSE:BILL) was the recipient of a significant decline in short interest during the month of July. As of July 15th, there was short interest totalling 2,770,000 shares, a decline of 7.7% from the June 30th total of 3,000,000 shares. Based on an average daily volume of 1,730,000 shares, the days-to-cover ratio is presently 1.6 days.

Insider Buying and Selling

In other BILL news, insider Rajesh A. Aji sold 2,616 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $51.60, for a total value of $134,985.60. Following the completion of the sale, the insider now owns 9,126 shares in the company, valued at $470,901.60. The sale was disclosed in a document filed with the SEC, which is available through this link. In other BILL news, insider Rajesh A. Aji sold 2,616 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $51.60, for a total value of $134,985.60. Following the completion of the sale, the insider now owns 9,126 shares in the company, valued at $470,901.60. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Germaine Cota sold 642 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $51.59, for a total value of $33,120.78. Following the completion of the sale, the senior vice president now owns 6,057 shares of the company’s stock, valued at approximately $312,480.63. The disclosure for this sale can be found here. 3.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On BILL

Hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its position in shares of BILL by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 9,976,318 shares of the company’s stock worth $685,573,000 after acquiring an additional 94,786 shares in the last quarter. Coatue Management LLC acquired a new position in shares of BILL in the 4th quarter worth approximately $163,218,000. Abdiel Capital Advisors LP grew its position in shares of BILL by 16.6% in the 4th quarter. Abdiel Capital Advisors LP now owns 1,711,392 shares of the company’s stock worth $139,632,000 after acquiring an additional 243,788 shares in the last quarter. Norges Bank acquired a new position in shares of BILL in the 4th quarter worth approximately $95,702,000. Finally, Jackson Square Partners LLC grew its position in shares of BILL by 92.1% in the 4th quarter. Jackson Square Partners LLC now owns 974,045 shares of the company’s stock worth $79,472,000 after acquiring an additional 467,111 shares in the last quarter. Institutional investors and hedge funds own 97.99% of the company’s stock.

BILL Stock Down 3.8 %

Shares of BILL stock traded down $1.88 during trading hours on Thursday, reaching $48.08. The company had a trading volume of 2,012,488 shares, compared to its average volume of 1,949,950. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.63 and a current ratio of 1.63. BILL has a twelve month low of $45.90 and a twelve month high of $121.64. The company has a market capitalization of $5.10 billion, a P/E ratio of -60.86 and a beta of 1.61. The stock’s fifty day simple moving average is $51.26 and its 200 day simple moving average is $60.51.

BILL (NYSE:BILL) last issued its quarterly earnings data on Thursday, May 2nd. The company reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.17. BILL had a positive return on equity of 0.98% and a negative net margin of 4.21%. The firm had revenue of $323.03 million during the quarter, compared to analyst estimates of $305.23 million. As a group, sell-side analysts expect that BILL will post -0.19 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

BILL has been the topic of a number of recent analyst reports. William Blair reaffirmed a “market perform” rating on shares of BILL in a report on Friday, May 3rd. Keefe, Bruyette & Woods reduced their price objective on BILL from $70.00 to $60.00 and set a “market perform” rating on the stock in a research report on Monday, July 8th. Canaccord Genuity Group restated a “buy” rating and issued a $100.00 price objective on shares of BILL in a research report on Friday, May 3rd. Piper Sandler reduced their target price on BILL from $95.00 to $77.00 and set an “overweight” rating on the stock in a research report on Friday, April 12th. Finally, The Goldman Sachs Group reduced their target price on BILL from $98.00 to $86.00 and set a “buy” rating on the stock in a research report on Thursday, July 11th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $87.94.

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.