Point72 Hong Kong Ltd Cuts Stake in BILL Holdings, Inc. (NYSE:BILL)

Point72 Hong Kong Ltd decreased its position in BILL Holdings, Inc. (NYSE:BILL) by 64.3% during the 3rd quarter, Holdings Channel reports. The fund owned 1,712 shares of the company’s stock after selling 3,088 shares during the quarter. Point72 Hong Kong Ltd’s holdings in BILL were worth $90,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Aigen Investment Management LP lifted its holdings in BILL by 612.3% in the third quarter. Aigen Investment Management LP now owns 55,561 shares of the company’s stock valued at $2,931,000 after acquiring an additional 47,761 shares during the period. WoodTrust Financial Corp purchased a new stake in BILL during the third quarter worth about $422,000. WCM Investment Management LLC grew its position in BILL by 26.4% during the third quarter. WCM Investment Management LLC now owns 294,229 shares of the company’s stock worth $15,647,000 after buying an additional 61,471 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in BILL in the third quarter valued at about $820,000. Finally, Algert Global LLC lifted its position in shares of BILL by 602.3% during the 2nd quarter. Algert Global LLC now owns 61,518 shares of the company’s stock valued at $3,237,000 after acquiring an additional 52,758 shares during the period. 97.99% of the stock is currently owned by institutional investors and hedge funds.

BILL Price Performance

BILL opened at $88.48 on Wednesday. BILL Holdings, Inc. has a 1 year low of $43.11 and a 1 year high of $94.28. The company’s 50 day simple moving average is $67.58 and its 200 day simple moving average is $57.03. The stock has a market capitalization of $9.16 billion, a PE ratio of -268.12 and a beta of 1.72. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.53 and a current ratio of 1.53.

Wall Street Analysts Forecast Growth

BILL has been the topic of a number of research reports. Keefe, Bruyette & Woods lowered their price target on BILL from $60.00 to $55.00 and set a “market perform” rating on the stock in a report on Friday, August 23rd. Canaccord Genuity Group reaffirmed a “buy” rating and set a $100.00 price target on shares of BILL in a research note on Friday, August 23rd. Wells Fargo & Company lowered their price objective on shares of BILL from $60.00 to $45.00 and set an “underweight” rating on the stock in a research note on Tuesday, August 20th. Susquehanna restated a “positive” rating and set a $100.00 target price on shares of BILL in a report on Monday, August 19th. Finally, Oppenheimer upped their price target on shares of BILL from $70.00 to $83.00 and gave the company an “outperform” rating in a report on Friday, November 8th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $78.28.

Insider Buying and Selling at BILL

In other news, Director Alison Wagonfeld sold 519 shares of the firm’s stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $57.50, for a total value of $29,842.50. Following the transaction, the director now directly owns 1,038 shares in the company, valued at $59,685. This trade represents a 33.33 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Germaine Cota sold 1,525 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $77.99, for a total value of $118,934.75. Following the sale, the senior vice president now owns 5,348 shares of the company’s stock, valued at $417,090.52. The trade was a 22.19 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,823 shares of company stock worth $218,887 in the last quarter. 4.20% of the stock is owned by insiders.

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.