Institute for Wealth Management LLC. Cuts Stake in BILL Holdings, Inc. (NYSE:BILL)

Institute for Wealth Management LLC. lessened its holdings in shares of BILL Holdings, Inc. (NYSE:BILL) by 5.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,984 shares of the company’s stock after selling 386 shares during the period. Institute for Wealth Management LLC.’s holdings in BILL were worth $592,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of BILL. Abdiel Capital Advisors LP grew its stake in BILL by 48.2% during the 3rd quarter. Abdiel Capital Advisors LP now owns 5,121,139 shares of the company’s stock valued at $270,191,000 after acquiring an additional 1,666,316 shares in the last quarter. Two Sigma Advisers LP grew its stake in BILL by 87.0% during the 3rd quarter. Two Sigma Advisers LP now owns 690,800 shares of the company’s stock valued at $36,447,000 after acquiring an additional 321,400 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in shares of BILL by 297.7% in the 3rd quarter. Assenagon Asset Management S.A. now owns 380,640 shares of the company’s stock valued at $20,083,000 after buying an additional 284,935 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of BILL by 45.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 895,833 shares of the company’s stock valued at $47,264,000 after buying an additional 279,256 shares during the period. Finally, Invenomic Capital Management LP grew its stake in shares of BILL by 204.1% in the 3rd quarter. Invenomic Capital Management LP now owns 287,245 shares of the company’s stock valued at $15,155,000 after buying an additional 192,776 shares during the period. Hedge funds and other institutional investors own 97.99% of the company’s stock.

Insiders Place Their Bets

In other BILL news, SVP Germaine Cota sold 1,525 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $77.99, for a total value of $118,934.75. Following the sale, the senior vice president now directly owns 5,348 shares of the company’s stock, valued at approximately $417,090.52. This represents a 22.19 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Alison Wagonfeld sold 779 shares of the stock in a transaction that occurred on Tuesday, November 12th. The shares were 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 in the company, valued at approximately $23,310. This represents a 75.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.20% of the stock is owned by company insiders.

BILL Price Performance

BILL stock opened at $96.95 on Friday. The firm has a market cap of $10.03 billion, a PE ratio of -293.78, a price-to-earnings-growth ratio of 162.34 and a beta of 1.72. BILL Holdings, Inc. has a 52-week low of $43.11 and a 52-week high of $100.19. 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 company’s 50 day moving average is $89.01 and its two-hundred day moving average is $67.88.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Susquehanna increased their price target on shares of BILL from $91.00 to $100.00 and gave the company a “positive” rating in a research note on Tuesday, January 7th. The Goldman Sachs Group raised shares of BILL from a “neutral” rating to a “buy” rating and increased their price target for the company from $96.00 to $104.00 in a research note on Thursday, January 9th. Morgan Stanley raised shares of BILL from an “equal weight” rating to an “overweight” rating and set a $95.00 price target for the company in a research note on Thursday, January 16th. Oppenheimer increased their price target on shares of BILL from $70.00 to $83.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Finally, Keefe, Bruyette & Woods decreased their price objective on shares of BILL from $100.00 to $95.00 and set a “market perform” rating on the stock in a report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, BILL has a consensus rating of “Moderate Buy” and an average target price of $85.00.

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.