Arizona State Retirement System Has $1.30 Million Stake in BILL Holdings, Inc. (NYSE:BILL)

Arizona State Retirement System trimmed its position in shares of BILL Holdings, Inc. (NYSE:BILL) by 4.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,234 shares of the company’s stock after selling 1,180 shares during the period. Arizona State Retirement System’s holdings in BILL were worth $1,296,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Xponance Inc. lifted its stake in shares of BILL by 1.6% in the first quarter. Xponance Inc. now owns 13,902 shares of the company’s stock valued at $638,000 after buying an additional 222 shares during the period. Coppell Advisory Solutions LLC increased its holdings in shares of BILL by 202.5% in the fourth quarter. Coppell Advisory Solutions LLC now owns 369 shares of the company’s stock valued at $32,000 after purchasing an additional 247 shares in the last quarter. CoreCap Advisors LLC bought a new position in BILL in the 4th quarter worth approximately $30,000. GeoWealth Management LLC bought a new position in BILL in the 4th quarter worth approximately $32,000. Finally, AXA S.A. grew its holdings in BILL by 0.5% during the 4th quarter. AXA S.A. now owns 81,690 shares of the company’s stock worth $6,920,000 after acquiring an additional 429 shares during the period. 97.99% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on BILL shares. Canaccord Genuity Group cut their price objective on shares of BILL from $105.00 to $75.00 and set a “buy” rating on the stock in a research report on Tuesday, May 13th. Oppenheimer upped their price target on shares of BILL from $50.00 to $55.00 and gave the company an “outperform” rating in a research note on Friday, May 9th. Citigroup cut their price objective on shares of BILL from $88.00 to $67.00 and set a “buy” rating for the company in a report on Thursday, May 22nd. The Goldman Sachs Group cut their price objective on shares of BILL from $90.00 to $60.00 and set a “buy” rating for the company in a report on Wednesday, April 2nd. Finally, Piper Sandler cut their price target on shares of BILL from $85.00 to $70.00 and set an “overweight” rating for the company in a report on Thursday, April 10th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $62.10.

BILL Stock Down 3.3%

Shares of NYSE BILL opened at $45.86 on Friday. The firm has a market cap of $4.72 billion, a PE ratio of -382.13, a P/E/G ratio of 9.71 and a beta of 1.35. BILL Holdings, Inc. has a 12-month low of $36.55 and a 12-month high of $100.19. The company’s fifty day simple moving average is $45.35 and its 200 day simple moving average is $54.67. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 0.43.

BILL (NYSE:BILL) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.13. BILL had a net margin of 2.70% and a return on equity of 1.21%. The firm had revenue of $358.22 million for the quarter, compared to analyst estimates of $355.85 million. During the same period last year, the firm earned $0.60 earnings per share. The business’s quarterly revenue was up 10.9% compared to the same quarter last year. As a group, sell-side analysts forecast that BILL Holdings, Inc. will post 0.12 earnings per share for the current fiscal year.

Insider Activity

In other BILL news, SVP Germaine Cota sold 1,718 shares of BILL stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $42.55, for a total value of $73,100.90. Following the sale, the senior vice president owned 9,512 shares of the company’s stock, valued at approximately $404,735.60. The trade was a 15.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Rajesh A. Aji sold 1,780 shares of BILL stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $45.25, for a total transaction of $80,545.00. Following the completion of the transaction, the insider owned 9,298 shares of the company’s stock, valued at $420,734.50. The trade was a 16.07% decrease in their position. The disclosure for this sale can be found here. Insiders own 4.20% of the company’s stock.

BILL 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.