Short Interest in BILL Holdings, Inc. (NYSE:BILL) Drops By 7.7%

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

Insider Transactions at BILL

In other news, insider Rajesh A. Aji sold 2,616 shares of BILL stock in a transaction dated 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 transaction, the insider now directly owns 9,126 shares of the company’s stock, valued at approximately $470,901.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider Rajesh A. Aji sold 2,616 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $51.60, for a total transaction of $134,985.60. Following the completion of the sale, the insider now owns 9,126 shares of the company’s stock, valued at approximately $470,901.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Germaine Cota sold 642 shares of BILL stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $51.59, for a total transaction 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 currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Quest Partners LLC purchased a new stake in BILL during the 4th quarter valued at $35,000. Advisors Asset Management Inc. boosted its holdings in shares of BILL by 75.0% during the first quarter. Advisors Asset Management Inc. now owns 658 shares of the company’s stock worth $45,000 after purchasing an additional 282 shares during the period. Versant Capital Management Inc bought a new stake in shares of BILL in the second quarter worth about $46,000. Benjamin F. Edwards & Company Inc. increased its holdings in BILL by 57.2% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 811 shares of the company’s stock valued at $56,000 after purchasing an additional 295 shares during the period. Finally, Garner Asset Management Corp bought a new position in BILL during the 4th quarter valued at approximately $90,000. 97.99% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on BILL shares. The Goldman Sachs Group cut their price target on BILL from $98.00 to $86.00 and set a “buy” rating for the company in a research note on Thursday, July 11th. Canaccord Genuity Group reiterated a “buy” rating and set a $100.00 price target on shares of BILL in a report on Friday, May 3rd. Wolfe Research cut BILL from an “outperform” rating to a “peer perform” rating in a research note on Thursday. William Blair reiterated a “market perform” rating on shares of BILL in a research note on Friday, May 3rd. Finally, Piper Sandler dropped their price target on shares of BILL from $95.00 to $77.00 and set an “overweight” rating on the stock in a research report on Friday, April 12th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, BILL presently has a consensus rating of “Moderate Buy” and a consensus target price of $87.94.

BILL Price Performance

Shares of BILL stock traded down $1.88 during trading on Thursday, hitting $48.08. The company had a trading volume of 2,012,488 shares, compared to its average volume of 1,949,950. The stock’s 50-day moving average is $51.26 and its two-hundred day moving average is $60.51. The stock has a market capitalization of $5.10 billion, a price-to-earnings ratio of -60.86 and a beta of 1.61. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 0.28. BILL has a 52 week low of $45.90 and a 52 week high of $121.64.

BILL (NYSE:BILL) last released its quarterly earnings results 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 business had revenue of $323.03 million for the quarter, compared to the consensus estimate of $305.23 million. As a group, analysts predict that BILL will post -0.19 EPS for the current fiscal year.

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.