BILL (NYSE:BILL) Shares Gap Up – What’s Next?

Shares of BILL Holdings, Inc. (NYSE:BILL) gapped up before the market opened on Thursday . The stock had previously closed at $83.69, but opened at $89.10. BILL shares last traded at $88.35, with a volume of 672,357 shares traded.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on BILL shares. Evercore ISI reduced their price objective on BILL from $70.00 to $60.00 and set an “in-line” rating for the company in a research report on Friday, August 23rd. Oppenheimer upped their price target on shares of BILL from $70.00 to $83.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. The Goldman Sachs Group increased their price objective on shares of BILL from $77.00 to $96.00 and gave the stock a “neutral” rating in a report on Monday, December 2nd. Canaccord Genuity Group reissued a “buy” rating and set a $100.00 target price on shares of BILL in a research note on Friday, August 23rd. Finally, Mizuho upped their target price on shares of BILL from $64.00 to $75.00 and gave the stock a “neutral” rating in a research report on Friday, December 13th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $83.79.

BILL Trading Up 1.2 %

The company’s 50 day simple moving average is $77.11 and its two-hundred day simple moving average is $60.31. The stock has a market cap of $9.27 billion, a price-to-earnings ratio of -271.27 and a beta of 1.72. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.53 and a current ratio of 1.53.

Insider Activity at BILL

In other BILL news, SVP Germaine Cota sold 1,525 shares of BILL 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 completion of the sale, the senior vice president now directly owns 5,348 shares in the company, valued at $417,090.52. The trade was a 22.19 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Alison Wagonfeld sold 779 shares of the stock in a transaction 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 transaction, the director now owns 259 shares in the company, valued at approximately $23,310. This trade represents a 75.05 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,823 shares of company stock valued at $218,887. Insiders own 4.20% of the company’s stock.

Hedge Funds Weigh In On BILL

Several institutional investors have recently bought and sold shares of BILL. Aigen Investment Management LP grew its stake in BILL by 612.3% in the 3rd quarter. Aigen Investment Management LP now owns 55,561 shares of the company’s stock valued at $2,931,000 after buying an additional 47,761 shares during the last quarter. WoodTrust Financial Corp bought a new stake in BILL during the third quarter valued at about $422,000. WCM Investment Management LLC grew its position in shares of BILL by 26.4% in the third quarter. WCM Investment Management LLC now owns 294,229 shares of the company’s stock valued at $15,647,000 after purchasing an additional 61,471 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of BILL in the third quarter worth about $820,000. Finally, Algert Global LLC lifted its position in shares of BILL by 602.3% during the 2nd quarter. Algert Global LLC now owns 61,518 shares of the company’s stock worth $3,237,000 after purchasing an additional 52,758 shares during the last quarter. 97.99% of the stock is currently owned by institutional investors.

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.