BILL Holdings, Inc. (NYSE:BILL) Sees Large Drop in Short Interest

BILL Holdings, Inc. (NYSE:BILL) saw a significant drop in short interest in July. As of July 15th, there was short interest totalling 2,770,000 shares, a drop of 7.7% from the June 30th total of 3,000,000 shares. Based on an average daily trading volume, of 1,730,000 shares, the short-interest ratio is presently 1.6 days.

Insider Buying and Selling at BILL

In related news, SVP Germaine Cota sold 642 shares of BILL stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $51.59, for a total transaction of $33,120.78. Following the completion of the transaction, the senior vice president now directly owns 6,057 shares of the company’s stock, valued at $312,480.63. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, SVP Germaine Cota sold 642 shares of the stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $51.59, for a total value of $33,120.78. Following the sale, the senior vice president now directly owns 6,057 shares of the company’s stock, valued at approximately $312,480.63. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Rajesh A. Aji sold 2,616 shares of the company’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $51.60, for a total transaction of $134,985.60. Following the completion of the sale, the insider now directly owns 9,126 shares in the company, valued at approximately $470,901.60. The disclosure for this sale can be found here. 3.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On BILL

A number of institutional investors have recently made changes to their positions in the business. Coatue Management LLC acquired a new stake in BILL during the fourth quarter valued at approximately $163,218,000. Norges Bank acquired a new stake in shares of BILL during the 4th quarter valued at approximately $95,702,000. Kodai Capital Management LP bought a new position in BILL during the first quarter worth $59,341,000. Contour Asset Management LLC acquired a new position in BILL in the fourth quarter worth $49,509,000. Finally, Gotham Asset Management LLC increased its stake in BILL by 14,421.8% during the fourth quarter. Gotham Asset Management LLC now owns 508,408 shares of the company’s stock valued at $41,481,000 after purchasing an additional 504,907 shares during the last quarter. 97.99% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BILL has been the subject of a number of recent research reports. Jefferies Financial Group dropped their price objective on BILL from $95.00 to $80.00 and set a “buy” rating for the company in a research report on Monday, April 29th. William Blair reaffirmed a “market perform” rating on shares of BILL in a research note on Friday, May 3rd. Oppenheimer decreased their price objective on BILL from $95.00 to $70.00 and set an “outperform” rating on the stock in a report on Monday, July 22nd. Keefe, Bruyette & Woods dropped their target price on BILL from $70.00 to $60.00 and set a “market perform” rating for the company in a research note on Monday, July 8th. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a $100.00 price target on shares of BILL in a research note on Friday, May 3rd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $87.94.

BILL Stock Performance

Shares of BILL traded down $1.88 during mid-day trading on Thursday, reaching $48.08. 2,012,488 shares of the stock traded hands, compared to its average volume of 1,949,950. The stock has a fifty day simple moving average of $51.35 and a 200 day simple moving average of $60.60. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 0.28. BILL has a 12-month low of $45.90 and a 12-month high of $121.64.

BILL (NYSE:BILL) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.17. BILL had a negative net margin of 4.21% and a positive return on equity of 0.98%. The company had revenue of $323.03 million during the quarter, compared to analysts’ expectations of $305.23 million. On average, equities research analysts predict that BILL will post -0.19 EPS for the current fiscal year.

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.