BILL Holdings, Inc. (NYSE:BILL) Stake Increased by LMR Partners LLP

LMR Partners LLP lifted its stake in BILL Holdings, Inc. (NYSE:BILL) by 728.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 79,608 shares of the company’s stock after acquiring an additional 70,000 shares during the quarter. LMR Partners LLP owned approximately 0.08% of BILL worth $4,200,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of BILL. Abdiel Capital Advisors LP increased its stake in shares of BILL by 46.4% in the second quarter. Abdiel Capital Advisors LP now owns 3,454,823 shares of the company’s stock worth $181,793,000 after acquiring an additional 1,095,396 shares during the last quarter. Kodai Capital Management LP acquired a new stake in shares of BILL in the first quarter valued at about $59,341,000. Dimensional Fund Advisors LP lifted its stake in shares of BILL by 70.7% in the second quarter. Dimensional Fund Advisors LP now owns 1,388,441 shares of the company’s stock valued at $73,049,000 after buying an additional 575,084 shares during the period. Assenagon Asset Management S.A. lifted its stake in shares of BILL by 297.7% in the third 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. Finally, Clearline Capital LP lifted its stake in shares of BILL by 201.6% in the second quarter. Clearline Capital LP now owns 344,751 shares of the company’s stock valued at $18,141,000 after buying an additional 230,435 shares during the period. 97.99% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BILL has been the subject of several research reports. Wolfe Research cut shares of BILL from an “outperform” rating to a “peer perform” rating in a research note on Thursday, August 1st. Keefe, Bruyette & Woods reduced their target price on shares of BILL from $60.00 to $55.00 and set a “market perform” rating for the company in a research note on Friday, August 23rd. Mizuho reduced their target price on shares of BILL from $60.00 to $52.00 and set a “neutral” rating for the company in a research note on Wednesday, August 28th. BMO Capital Markets cut their price target on shares of BILL from $75.00 to $57.00 and set a “market perform” rating for the company in a research note on Monday, August 26th. Finally, Canaccord Genuity Group restated a “buy” rating and set a $100.00 price target on shares of BILL in a research note on Friday, August 23rd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $74.65.

BILL Stock Performance

Shares of BILL stock opened at $84.64 on Tuesday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.53 and a quick ratio of 1.55. The firm has a 50 day simple moving average of $59.32 and a 200 day simple moving average of $54.55. BILL Holdings, Inc. has a fifty-two week low of $43.11 and a fifty-two week high of $91.19. The firm has a market cap of $8.76 billion, a P/E ratio of -256.48 and a beta of 1.59.

BILL (NYSE:BILL) last posted its quarterly earnings data on Thursday, August 22nd. The company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.11. BILL had a net margin of 0.59% and a return on equity of 1.54%. The firm had revenue of $343.67 million during the quarter, compared to analysts’ expectations of $328.27 million. During the same quarter in the previous year, the company posted $0.10 EPS. BILL’s revenue was up 16.1% on a year-over-year basis. Sell-side analysts predict that BILL Holdings, Inc. will post -0.18 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Rene A. Lacerte purchased 42,248 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was bought at an average price of $49.60 per share, with a total value of $2,095,500.80. Following the acquisition, the chief executive officer now directly owns 184,249 shares of the company’s stock, valued at approximately $9,138,750.40. This represents a 29.75 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Germaine Cota sold 803 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $54.75, for a total transaction of $43,964.25. Following the completion of the transaction, the senior vice president now directly owns 6,861 shares of the company’s stock, valued at $375,639.75. This trade represents a 10.48 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders purchased 68,372 shares of company stock worth $3,404,826 and sold 6,112 shares worth $398,910. 4.20% of the stock is currently owned by corporate insiders.

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.