BILL (NYSE:BILL) Shares Gap Up Following Insider Buying Activity

Shares of BILL Holdings, Inc. (NYSE:BILL) gapped up prior to trading on Tuesday following insider buying activity. The stock had previously closed at $49.77, but opened at $51.37. BILL shares last traded at $51.62, with a volume of 544,450 shares traded.

Specifically, CFO John R. Rettig acquired 21,124 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The shares were acquired at an average price of $49.40 per share, with a total value of $1,043,525.60. Following the acquisition, the chief financial officer now owns 80,474 shares of the company’s stock, valued at approximately $3,975,415.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Rene A. Lacerte bought 42,248 shares of BILL stock in a transaction on Monday, August 26th. The shares were bought at an average cost 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 in the company, valued at $9,138,750.40. The disclosure for this purchase can be found here.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Robert W. Baird cut their price objective on shares of BILL from $68.00 to $60.00 and set a “neutral” rating for the company in a research report on Friday, August 23rd. 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 report on Monday. The Goldman Sachs Group cut shares of BILL from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $86.00 to $54.00 in a report on Friday, August 23rd. Piper Sandler increased their price objective on BILL from $59.00 to $60.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. Finally, JPMorgan Chase & Co. reduced their target price on BILL from $80.00 to $60.00 and set an “overweight” rating for the company in a research report on Tuesday, August 20th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $69.65.

BILL Stock Performance

The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.63 and a current ratio of 1.63. The company has a market cap of $5.68 billion, a PE ratio of -67.70 and a beta of 1.61. The business’s 50-day moving average is $50.22 and its 200 day moving average is $56.97.

BILL (NYSE:BILL) last released its quarterly earnings data on Thursday, August 22nd. The company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.46 by $0.11. The firm had revenue of $343.67 million for the quarter, compared to the consensus estimate of $328.27 million. BILL had a positive return on equity of 0.98% and a negative net margin of 4.21%. The company’s quarterly revenue was up 16.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.10 earnings per share. On average, equities research analysts predict that BILL Holdings, Inc. will post -0.19 EPS for the current fiscal year.

Institutional Trading of BILL

Several hedge funds and other institutional investors have recently bought and sold shares of BILL. Quest Partners LLC bought a new position in shares of BILL in the fourth quarter worth approximately $35,000. Advisors Asset Management Inc. increased its position in shares of BILL by 75.0% in the first quarter. Advisors Asset Management Inc. now owns 658 shares of the company’s stock valued at $45,000 after acquiring an additional 282 shares during the period. Versant Capital Management Inc bought a new position in shares of BILL during the second quarter valued at about $46,000. Benjamin F. Edwards & Company Inc. boosted its holdings in shares of BILL by 57.2% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 811 shares of the company’s stock worth $56,000 after purchasing an additional 295 shares during the period. Finally, Garner Asset Management Corp bought a new stake in shares of BILL in the fourth quarter worth about $90,000. Institutional investors own 97.99% of the company’s stock.

About BILL

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.