ARK Investment Management LLC Lowers Stake in BILL Holdings, Inc. (NYSE:BILL)

ARK Investment Management LLC reduced its holdings in shares of BILL Holdings, Inc. (NYSE:BILL) by 1.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 262,511 shares of the company’s stock after selling 4,700 shares during the period. ARK Investment Management LLC’s holdings in BILL were worth $21,418,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in BILL by 0.7% during the 3rd quarter. Vanguard Group Inc. now owns 9,719,104 shares of the company’s stock valued at $1,055,203,000 after acquiring an additional 66,951 shares during the period. Newlands Management Operations LLC lifted its position in BILL by 149.1% during the 2nd quarter. Newlands Management Operations LLC now owns 2,620,062 shares of the company’s stock valued at $306,154,000 after acquiring an additional 1,568,188 shares during the period. Lone Pine Capital LLC lifted its position in BILL by 39.7% during the 3rd quarter. Lone Pine Capital LLC now owns 2,546,689 shares of the company’s stock valued at $276,494,000 after acquiring an additional 723,151 shares during the period. Goldman Sachs Group Inc. lifted its position in BILL by 25.1% during the 2nd quarter. Goldman Sachs Group Inc. now owns 1,616,806 shares of the company’s stock valued at $177,752,000 after acquiring an additional 324,354 shares during the period. Finally, T. Rowe Price Investment Management Inc. raised its holdings in BILL by 1.3% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,544,675 shares of the company’s stock worth $168,308,000 after buying an additional 19,378 shares during the last quarter. 97.99% of the stock is owned by hedge funds and other institutional investors.

BILL Stock Performance

Shares of NYSE BILL opened at $67.67 on Thursday. The firm has a 50 day moving average of $68.70 and a 200 day moving average of $79.28. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $7.11 billion, a price-to-earnings ratio of -61.93, a price-to-earnings-growth ratio of 192.47 and a beta of 1.66. BILL Holdings, Inc. has a 12-month low of $51.94 and a 12-month high of $139.50.

BILL (NYSE:BILL) last announced its earnings results on Thursday, February 8th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.26. The company had revenue of $318.50 million during the quarter, compared to analyst estimates of $296.62 million. BILL had a negative net margin of 9.67% and a positive return on equity of 0.29%. On average, research analysts anticipate that BILL Holdings, Inc. will post 0.02 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Wells Fargo & Company decreased their target price on shares of BILL from $75.00 to $70.00 and set an “equal weight” rating for the company in a report on Friday, February 9th. JPMorgan Chase & Co. decreased their target price on shares of BILL from $93.00 to $90.00 and set an “overweight” rating for the company in a report on Friday, February 9th. Needham & Company LLC reaffirmed a “buy” rating and issued a $100.00 target price on shares of BILL in a report on Friday, February 9th. Citigroup lifted their target price on shares of BILL from $85.00 to $86.00 and gave the stock a “buy” rating in a report on Monday, February 12th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $95.00 target price on shares of BILL in a report on Wednesday, February 7th. Eight investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $107.10.

Insider Activity at BILL

In related news, SVP Germaine Cota sold 920 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $65.34, for a total transaction of $60,112.80. Following the completion of the sale, the senior vice president now directly owns 5,093 shares in the company, valued at $332,776.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 3.80% of the stock is currently owned by company insiders.

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.