Dark Forest Capital Management LP Purchases 9,543 Shares of BILL Holdings, Inc. (NYSE:BILL)

Dark Forest Capital Management LP increased its position in BILL Holdings, Inc. (NYSE:BILL) by 166.1% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 15,290 shares of the company’s stock after buying an additional 9,543 shares during the quarter. Dark Forest Capital Management LP’s holdings in BILL were worth $805,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Gilbert & Cook Inc. boosted its stake in shares of BILL by 8.4% in the fourth quarter. Gilbert & Cook Inc. now owns 5,524 shares of the company’s stock worth $451,000 after acquiring an additional 429 shares during the period. Dimensional Fund Advisors LP grew its holdings in BILL by 7.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 508,364 shares of the company’s stock valued at $41,484,000 after buying an additional 36,233 shares in the last quarter. Corient Private Wealth LLC raised its position in shares of BILL by 175.5% during the fourth quarter. Corient Private Wealth LLC now owns 6,983 shares of the company’s stock valued at $570,000 after buying an additional 4,448 shares during the last quarter. Quest Partners LLC purchased a new position in shares of BILL in the fourth quarter worth $35,000. Finally, Advisory Services Network LLC boosted its position in shares of BILL by 8.4% during the fourth quarter. Advisory Services Network LLC now owns 2,640 shares of the company’s stock worth $215,000 after acquiring an additional 205 shares during the last quarter. Hedge funds and other institutional investors own 97.99% of the company’s stock.

BILL Price Performance

Shares of BILL opened at $52.97 on Friday. The stock has a market capitalization of $5.65 billion, a PE ratio of -67.05 and a beta of 1.61. The company has a 50 day moving average price of $51.17 and a 200-day moving average price of $55.33. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.55 and a current ratio of 1.55. BILL Holdings, Inc. has a fifty-two week low of $43.11 and a fifty-two week high of $118.69.

BILL (NYSE:BILL) last issued its quarterly earnings data on Thursday, August 22nd. The company reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.11. The firm had revenue of $343.67 million during the quarter, compared to analysts’ expectations of $328.27 million. BILL had a positive return on equity of 1.13% and a negative net margin of 2.24%. The firm’s quarterly revenue was up 16.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.10 EPS. Equities analysts predict that BILL Holdings, Inc. will post -0.58 earnings per share for the current fiscal year.

Insider Activity at BILL

In related news, insider Rajesh A. Aji sold 2,486 shares of the business’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $54.73, for a total transaction of $136,058.78. Following the transaction, the insider now directly owns 7,812 shares in the company, valued at approximately $427,550.76. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other BILL news, insider Rajesh A. Aji sold 2,486 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $54.73, for a total transaction of $136,058.78. Following the sale, the insider now owns 7,812 shares of the company’s stock, valued at approximately $427,550.76. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Germaine Cota sold 803 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was 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 approximately $375,639.75. The disclosure for this sale can be found here. Insiders bought 68,372 shares of company stock valued at $3,404,826 over the last 90 days. Insiders own 3.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on BILL. Robert W. Baird reduced their price target on shares of BILL from $68.00 to $60.00 and set a “neutral” rating on the stock in a report on Friday, August 23rd. BNP Paribas raised BILL from a “neutral” rating to an “outperform” rating and set a $90.00 price objective on the stock in a report on Thursday, September 12th. Susquehanna reiterated a “positive” rating and set a $100.00 price objective on shares of BILL in a research report on Monday, August 19th. Evercore ISI decreased their target price on shares of BILL from $70.00 to $60.00 and set an “in-line” rating on the stock in a research report on Friday, August 23rd. Finally, JPMorgan Chase & Co. lowered their price target 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 research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $70.24.

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.