ARK Investment Management LLC Sells 18,293 Shares of BILL Holdings, Inc. (NYSE:BILL)

ARK Investment Management LLC cut its position in BILL Holdings, Inc. (NYSE:BILL) by 9.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 181,319 shares of the company’s stock after selling 18,293 shares during the quarter. ARK Investment Management LLC owned about 0.18% of BILL worth $9,566,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Advisors Asset Management Inc. boosted its position in shares of BILL by 75.0% in the first quarter. Advisors Asset Management Inc. now owns 658 shares of the company’s stock valued at $45,000 after acquiring an additional 282 shares during the period. Versant Capital Management Inc bought a new stake in BILL in the 2nd quarter valued at about $46,000. UniSuper Management Pty Ltd boosted its holdings in BILL by 100.0% in the 1st quarter. UniSuper Management Pty Ltd now owns 1,400 shares of the company’s stock valued at $96,000 after purchasing an additional 700 shares during the period. Blue Trust Inc. grew its position in shares of BILL by 1,167.5% during the 3rd quarter. Blue Trust Inc. now owns 1,914 shares of the company’s stock worth $101,000 after purchasing an additional 1,763 shares in the last quarter. Finally, Covestor Ltd increased its holdings in shares of BILL by 1,742.7% during the first quarter. Covestor Ltd now owns 1,640 shares of the company’s stock worth $113,000 after purchasing an additional 1,551 shares during the period. 97.99% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. BMO Capital Markets reduced their price target on BILL from $75.00 to $57.00 and set a “market perform” rating on the stock in a research report on Monday, August 26th. Needham & Company LLC restated a “buy” rating and issued a $100.00 price target on shares of BILL in a research report on Friday, August 23rd. UBS Group cut their price objective on shares of BILL from $85.00 to $65.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. Susquehanna reissued a “positive” rating and issued a $100.00 target price on shares of BILL in a report on Monday, August 19th. Finally, Keefe, Bruyette & Woods decreased their price objective on shares of BILL from $60.00 to $55.00 and set a “market perform” rating on the stock in a research note on Friday, August 23rd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $70.71.

BILL Trading Up 1.8 %

BILL stock opened at $65.88 on Friday. The business has a 50 day moving average of $54.78 and a 200-day moving average of $53.43. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.22. BILL Holdings, Inc. has a 1 year low of $43.11 and a 1 year high of $87.05.

BILL (NYSE:BILL) last announced its quarterly earnings results on Thursday, August 22nd. The company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.11. The firm had revenue of $343.67 million during the quarter, compared to analysts’ expectations of $328.27 million. BILL had a negative net margin of 2.24% and a positive return on equity of 1.13%. The company’s revenue was up 16.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.10 EPS. On average, analysts anticipate that BILL Holdings, Inc. will post -0.58 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO John R. Rettig purchased 21,124 shares of BILL stock in a transaction on Monday, August 26th. The shares were purchased at an average price of $49.40 per share, for a total transaction of $1,043,525.60. Following the transaction, the chief financial officer now owns 80,474 shares of the company’s stock, valued at approximately $3,975,415.60. This represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CFO John R. Rettig purchased 21,124 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were purchased at an average price of $49.40 per share, for a total transaction of $1,043,525.60. Following the transaction, the chief financial officer now owns 80,474 shares of the company’s stock, valued at approximately $3,975,415.60. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, 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 completion of the purchase, the chief executive officer now owns 184,249 shares in the company, valued at approximately $9,138,750.40. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders purchased 68,372 shares of company stock valued at $3,404,826 and sold 3,808 shares valued at $209,866. 4.20% of the stock is owned by corporate insiders.

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.