Algert Global LLC Raises Stock Holdings in BILL Holdings, Inc. (NYSE:BILL)

Algert Global LLC boosted its stake in shares of BILL Holdings, Inc. (NYSE:BILL) by 602.3% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 61,518 shares of the company’s stock after acquiring an additional 52,758 shares during the quarter. Algert Global LLC’s holdings in BILL were worth $3,237,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in BILL. Vanguard Group Inc. grew its stake in shares of BILL by 1.0% in the first quarter. Vanguard Group Inc. now owns 9,976,318 shares of the company’s stock valued at $685,573,000 after buying an additional 94,786 shares in the last quarter. Abdiel Capital Advisors LP boosted its holdings in BILL by 46.4% during the 2nd quarter. Abdiel Capital Advisors LP now owns 3,454,823 shares of the company’s stock valued at $181,793,000 after acquiring an additional 1,095,396 shares during the period. Coatue Management LLC acquired a new position in BILL in the 4th quarter valued at about $163,218,000. Dimensional Fund Advisors LP increased its stake in BILL by 70.7% during the second quarter. Dimensional Fund Advisors LP now owns 1,388,441 shares of the company’s stock worth $73,049,000 after purchasing an additional 575,084 shares during the period. Finally, Kodai Capital Management LP acquired a new stake in shares of BILL during the first quarter worth about $59,341,000. 97.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other BILL news, CEO Rene A. Lacerte bought 42,248 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were acquired 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 of the company’s stock, valued at approximately $9,138,750.40. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CEO Rene A. Lacerte purchased 42,248 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were purchased at an average price of $49.60 per share, with a total value of $2,095,500.80. Following the completion of the acquisition, the chief executive officer now directly owns 184,249 shares in the company, valued at approximately $9,138,750.40. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Germaine Cota sold 803 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $54.75, for a total value of $43,964.25. Following the completion of the transaction, the senior vice president now owns 6,861 shares in the company, valued at approximately $375,639.75. The disclosure for this sale can be found here. Over the last ninety days, insiders bought 68,372 shares of company stock valued at $3,404,826. 3.80% of the stock is currently owned by company insiders.

BILL Price Performance

Shares of NYSE:BILL opened at $51.23 on Wednesday. BILL Holdings, Inc. has a 12 month low of $43.11 and a 12 month high of $118.69. The firm has a market capitalization of $5.44 billion, a P/E ratio of -64.85 and a beta of 1.61. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.55 and a quick ratio of 1.55. The company’s fifty day moving average price is $51.08 and its 200 day moving average price is $54.88.

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

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Evercore ISI dropped their price objective on shares of BILL from $70.00 to $60.00 and set an “in-line” rating for the company in a report on Friday, August 23rd. BMO Capital Markets dropped their price target on shares of BILL from $75.00 to $57.00 and set a “market perform” rating for the company in a research note on Monday, August 26th. JPMorgan Chase & Co. reduced their price objective on BILL from $80.00 to $60.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 20th. BNP Paribas raised BILL from a “neutral” rating to an “outperform” rating and set a $90.00 target price for the company in a research note on Thursday, September 12th. Finally, Oppenheimer cut their price target on BILL from $95.00 to $70.00 and set an “outperform” rating on the stock in a report on Monday, July 22nd. One analyst has rated the stock with a sell rating, nine have given a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $70.24.

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.