Invenomic Capital Management LP Has $15.16 Million Stake in BILL Holdings, Inc. (NYSE:BILL)

Invenomic Capital Management LP increased its position in BILL Holdings, Inc. (NYSE:BILL) by 204.1% during the third quarter, HoldingsChannel reports. The institutional investor owned 287,245 shares of the company’s stock after acquiring an additional 192,776 shares during the period. Invenomic Capital Management LP’s holdings in BILL were worth $15,155,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in BILL. Brooklyn Investment Group acquired a new position in BILL in the third quarter worth approximately $28,000. Advisors Asset Management Inc. increased its holdings in BILL by 30.8% in the third quarter. Advisors Asset Management Inc. now owns 1,101 shares of the company’s stock worth $58,000 after buying an additional 259 shares during the last quarter. Venturi Wealth Management LLC increased its holdings in BILL by 377.8% in the third quarter. Venturi Wealth Management LLC now owns 1,290 shares of the company’s stock worth $68,000 after buying an additional 1,020 shares during the last quarter. Covestor Ltd increased its holdings in BILL by 15.1% in the third quarter. Covestor Ltd now owns 1,897 shares of the company’s stock worth $100,000 after buying an additional 249 shares during the last quarter. Finally, Blue Trust Inc. increased its holdings in BILL by 1,167.5% in the third quarter. Blue Trust Inc. now owns 1,914 shares of the company’s stock worth $101,000 after buying an additional 1,763 shares during the last quarter. Institutional investors and hedge funds own 97.99% of the company’s stock.

Wall Street Analyst Weigh In

BILL has been the topic of several analyst reports. Keefe, Bruyette & Woods lowered their price target on BILL from $60.00 to $55.00 and set a “market perform” rating on the stock in a report on Friday, August 23rd. BNP Paribas upgraded BILL from a “neutral” rating to an “outperform” rating and set a $90.00 price target on the stock in a report on Thursday, September 12th. BMO Capital Markets lowered their price target on BILL from $75.00 to $57.00 and set a “market perform” rating on the stock in a report on Monday, August 26th. Robert W. Baird increased their price target on BILL from $74.00 to $100.00 and gave the company a “neutral” rating in a report on Tuesday. Finally, Mizuho lowered their price target on BILL from $60.00 to $52.00 and set a “neutral” rating on the stock in a report on Wednesday, August 28th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $78.28.

BILL Price Performance

Shares of BILL stock opened at $89.72 on Tuesday. The stock has a 50-day moving average price of $66.13 and a 200 day moving average price of $56.61. The company has a quick ratio of 1.53, a current ratio of 1.53 and a debt-to-equity ratio of 0.23. The firm has a market cap of $9.29 billion, a price-to-earnings ratio of -271.24 and a beta of 1.71. BILL Holdings, Inc. has a 12 month low of $43.11 and a 12 month high of $94.28.

Insider Buying and Selling

In other news, SVP Germaine Cota sold 1,525 shares of BILL stock in a transaction dated Friday, November 8th. The stock was 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. The trade was a 22.19 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Alison Wagonfeld sold 519 shares of the business’s stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $57.50, for a total value of $29,842.50. Following the completion of the sale, the director now owns 1,038 shares in the company, valued at $59,685. The trade was a 33.33 % 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 over the last three months. 4.20% of the stock is currently owned by company 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.