BILL (NYSE:BILL) Sees Strong Trading Volume Following Analyst Upgrade

BILL Holdings, Inc. (NYSE:BILLGet Free Report) shares saw an uptick in trading volume on Monday after Citigroup raised their price target on the stock from $85.00 to $86.00. Citigroup currently has a buy rating on the stock. 2,088,277 shares traded hands during mid-day trading, a decline of 13% from the previous session’s volume of 2,404,290 shares.The stock last traded at $65.57 and had previously closed at $65.46.

BILL has been the topic of several other reports. The Goldman Sachs Group cut their target price on shares of BILL from $137.00 to $84.00 and set a “buy” rating on the stock in a research note on Friday, November 3rd. Oppenheimer upped their price target on shares of BILL from $75.00 to $83.00 and gave the stock an “overweight” rating in a research note on Friday. William Blair downgraded shares of BILL from an “outperform” rating to a “market perform” rating in a research note on Friday, November 3rd. Susquehanna dropped their price target on shares of BILL from $160.00 to $145.00 and set a “positive” rating on the stock in a research note on Tuesday, October 31st. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $95.00 price target on shares of BILL in a research note on Wednesday, February 7th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $108.85.

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Insider Activity

In other news, insider Loren Padelford sold 6,011 shares of BILL stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $67.41, for a total value of $405,201.51. Following the completion of the transaction, the insider now owns 10,573 shares in the company, valued at $712,725.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Rene A. Lacerte sold 12,137 shares of the business’s stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $67.41, for a total value of $818,155.17. Following the completion of the transaction, the chief executive officer now owns 88,517 shares in the company, valued at approximately $5,966,930.97. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Loren Padelford sold 6,011 shares of the business’s stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $67.41, for a total transaction of $405,201.51. Following the completion of the transaction, the insider now owns 10,573 shares of the company’s stock, valued at approximately $712,725.93. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 27,613 shares of company stock worth $1,863,557. Insiders own 3.80% of the company’s stock.

Institutional Trading of BILL

Several institutional investors and hedge funds have recently made changes to their positions in BILL. Lindbrook Capital LLC boosted its stake in BILL by 64.8% in the 2nd quarter. Lindbrook Capital LLC now owns 234 shares of the company’s stock worth $27,000 after purchasing an additional 92 shares during the period. Utah Retirement Systems lifted its position in BILL by 0.6% during the 4th quarter. Utah Retirement Systems now owns 17,610 shares of the company’s stock worth $1,919,000 after buying an additional 100 shares in the last quarter. First Horizon Advisors Inc. lifted its position in BILL by 14.1% during the 1st quarter. First Horizon Advisors Inc. now owns 948 shares of the company’s stock worth $77,000 after buying an additional 117 shares in the last quarter. M&T Bank Corp lifted its position in BILL by 0.9% during the 3rd quarter. M&T Bank Corp now owns 14,453 shares of the company’s stock worth $1,569,000 after buying an additional 128 shares in the last quarter. Finally, Toroso Investments LLC lifted its position in BILL by 15.3% during the 1st quarter. Toroso Investments LLC now owns 1,049 shares of the company’s stock worth $238,000 after buying an additional 139 shares in the last quarter.

BILL Stock Up 0.8 %

The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.81 and a current ratio of 1.81. The firm’s 50-day simple moving average is $76.08 and its 200 day simple moving average is $89.54. The stock has a market capitalization of $7.05 billion, a P/E ratio of -61.11 and a beta of 1.74.

BILL Company Profile

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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.

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