Fmr LLC Decreases Stock Holdings in BILL Holdings, Inc. (NYSE:BILL)

Fmr LLC decreased its stake in shares of BILL Holdings, Inc. (NYSE:BILL) by 43.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,160,371 shares of the company’s stock after selling 2,445,416 shares during the period. Fmr LLC’s holdings in BILL were worth $166,741,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BILL. Abdiel Capital Advisors LP lifted its stake in shares of BILL by 46.4% in the 2nd quarter. Abdiel Capital Advisors LP now owns 3,454,823 shares of the company’s stock worth $181,793,000 after purchasing an additional 1,095,396 shares during the period. Dimensional Fund Advisors LP raised its position in BILL by 70.7% in the second quarter. Dimensional Fund Advisors LP now owns 1,388,441 shares of the company’s stock worth $73,049,000 after acquiring an additional 575,084 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of BILL by 45.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 895,833 shares of the company’s stock worth $47,264,000 after acquiring an additional 279,256 shares during the last quarter. Marshall Wace LLP grew its position in shares of BILL by 13.9% during the 2nd quarter. Marshall Wace LLP now owns 635,937 shares of the company’s stock valued at $33,463,000 after acquiring an additional 77,508 shares during the period. Finally, Railway Pension Investments Ltd increased its stake in shares of BILL by 51.1% in the 2nd quarter. Railway Pension Investments Ltd now owns 549,946 shares of the company’s stock worth $28,938,000 after purchasing an additional 185,900 shares in the last quarter. Hedge funds and other institutional investors own 97.99% of the company’s stock.

Insiders Place Their Bets

In other 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 transaction of $118,934.75. Following the completion of the sale, the senior vice president now owns 5,348 shares of the company’s stock, valued at approximately $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 SEC, which is accessible through this link. Also, Director Alison Wagonfeld sold 779 shares of BILL stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $90.00, for a total value of $70,110.00. Following the sale, the director now directly owns 259 shares of the company’s stock, valued at approximately $23,310. This trade represents a 75.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,823 shares of company stock worth $218,887 over the last quarter. Company insiders own 4.20% of the company’s stock.

BILL Trading Down 1.2 %

BILL opened at $88.48 on Wednesday. BILL Holdings, Inc. has a one year low of $43.11 and a one year high of $94.28. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.53 and a current ratio of 1.53. The stock has a market cap of $9.16 billion, a price-to-earnings ratio of -268.12 and a beta of 1.72. The stock’s 50 day moving average price is $67.58 and its 200-day moving average price is $57.03.

Wall Street Analyst Weigh In

Several research firms have issued reports on BILL. Robert W. Baird boosted their price target on BILL from $74.00 to $100.00 and gave the company a “neutral” rating in a report on Tuesday. Morgan Stanley boosted their price objective on BILL from $58.00 to $95.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 26th. 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. BNP Paribas upgraded shares of BILL from a “neutral” rating to an “outperform” rating and set a $90.00 price objective on the stock in a research report on Thursday, September 12th. Finally, UBS Group dropped their target price on shares of BILL from $85.00 to $65.00 and set a “buy” rating for the company in a report on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $78.28.

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.