BILL (NYSE:BILL) Trading Down 2.7% – Here’s Why

BILL Holdings, Inc. (NYSE:BILL) dropped 2.7% on Tuesday . The company traded as low as $87.04 and last traded at $87.04. Approximately 1,479,986 shares were traded during trading, a decline of 27% from the average daily volume of 2,025,952 shares. The stock had previously closed at $89.45.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on BILL shares. Keefe, Bruyette & Woods upped their price target on BILL from $75.00 to $100.00 and gave the stock a “market perform” rating in a research note on Monday, December 9th. KeyCorp upgraded BILL from a “sector weight” rating to an “overweight” rating and set a $115.00 target price for the company in a report on Wednesday, December 18th. The Goldman Sachs Group increased their price target on shares of BILL from $77.00 to $96.00 and gave the stock a “neutral” rating in a research report on Monday, December 2nd. Piper Sandler lifted their price objective on shares of BILL from $60.00 to $85.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Finally, Mizuho increased their target price on shares of BILL from $64.00 to $75.00 and gave the stock a “neutral” rating in a report on Friday, December 13th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $83.79.

BILL Stock Down 2.7 %

The firm has a market cap of $9.01 billion, a PE ratio of -263.76 and a beta of 1.71. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.53 and a current ratio of 1.53. The firm’s 50-day moving average price is $77.78 and its two-hundred day moving average price is $60.72.

Insider Buying and Selling

In other BILL news, Director Alison Wagonfeld sold 779 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $90.00, for a total transaction of $70,110.00. Following the completion of the sale, the director now directly owns 259 shares of the company’s stock, valued at $23,310. This represents a 75.05 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Germaine Cota sold 1,525 shares of BILL stock in a transaction on Friday, November 8th. The shares were sold at an average price of $77.99, for a total transaction of $118,934.75. Following the completion of the transaction, the senior vice president now owns 5,348 shares in the company, valued at approximately $417,090.52. This trade represents a 22.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,823 shares of company stock worth $218,887 in the last quarter. 4.20% of the stock is owned by insiders.

Hedge Funds Weigh In On BILL

A number of large investors have recently made changes to their positions in BILL. Brooklyn Investment Group acquired a new stake in BILL in the 3rd quarter valued at about $28,000. Advisors Asset Management Inc. lifted its position in shares of BILL by 30.8% in the third quarter. Advisors Asset Management Inc. now owns 1,101 shares of the company’s stock valued at $58,000 after acquiring an additional 259 shares in the last quarter. Venturi Wealth Management LLC increased its position in BILL by 377.8% during the 3rd quarter. Venturi Wealth Management LLC now owns 1,290 shares of the company’s stock worth $68,000 after purchasing an additional 1,020 shares in the last quarter. Covestor Ltd boosted its stake in shares of BILL by 15.1% during the 3rd quarter. Covestor Ltd now owns 1,897 shares of the company’s stock worth $100,000 after purchasing an additional 249 shares during the last quarter. Finally, Blue Trust Inc. raised its position in shares of BILL by 1,167.5% in the third quarter. Blue Trust Inc. now owns 1,914 shares of the company’s stock valued at $101,000 after buying an additional 1,763 shares during the last quarter. Hedge funds and other institutional investors own 97.99% of the company’s stock.

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.