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

BILL Holdings, Inc. (NYSE:BILL) shares gapped up prior to trading 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 trading hands.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on BILL shares. 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. KeyCorp upgraded BILL from a “sector weight” rating to an “overweight” rating and set a $115.00 price objective for the company in a research note on Wednesday. Mizuho raised their price target 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. Needham & Company LLC reissued a “buy” rating and set a $100.00 price objective on shares of BILL in a report on Friday, August 23rd. Finally, Keefe, Bruyette & Woods lifted their price target on BILL from $75.00 to $100.00 and gave the stock a “market perform” rating in a research note on Monday, December 9th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $83.79.

BILL Trading Up 5.1 %

The company has a debt-to-equity ratio of 0.23, a current ratio of 1.53 and a quick ratio of 1.53. The firm’s fifty day moving average is $75.78 and its two-hundred day moving average is $59.84. The firm has a market capitalization of $9.10 billion, a PE ratio of -266.45 and a beta of 1.72.

Insiders Place Their Bets

In other news, SVP Germaine Cota sold 1,525 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $77.99, for a total value of $118,934.75. Following the completion of the transaction, the senior vice president now 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Alison Wagonfeld sold 779 shares of the company’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $90.00, for a total value 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. The trade was a 75.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,823 shares of company stock worth $218,887 in the last three months. 4.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On BILL

Hedge funds and other institutional investors have recently modified their holdings of the company. Y Intercept Hong Kong Ltd boosted its stake in shares of BILL by 62.1% in the third quarter. Y Intercept Hong Kong Ltd now owns 16,587 shares of the company’s stock worth $875,000 after acquiring an additional 6,355 shares during the period. Pier Capital LLC bought a new stake in shares of BILL in the third quarter worth about $5,400,000. National Bank of Canada FI bought a new stake in BILL in the 3rd quarter worth approximately $1,535,000. Washington Harbour Partners LP purchased a new stake in BILL during the third quarter valued at $533,000. Finally, Weiss Asset Management LP boosted its holdings in shares of BILL by 156.0% in the 3rd quarter. Weiss Asset Management LP now owns 158,405 shares of the company’s stock worth $8,357,000 after purchasing an additional 96,540 shares during the period. 97.99% of the stock is 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.