BILL Holdings, Inc. (NYSE:BILL) Sees Significant Increase in Short Interest

BILL Holdings, Inc. (NYSE:BILL) was the target of a large increase in short interest during the month of December. As of December 31st, there was short interest totalling 7,050,000 shares, an increase of 31.3% from the December 15th total of 5,370,000 shares. Based on an average daily volume of 2,270,000 shares, the days-to-cover ratio is presently 3.1 days.

Wall Street Analyst Weigh In

A number of brokerages recently commented on BILL. The Goldman Sachs Group upgraded shares of BILL from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $96.00 to $104.00 in a report on Thursday, January 9th. Morgan Stanley raised shares of BILL from an “equal weight” rating to an “overweight” rating and set a $95.00 price target for the company in a research note on Thursday. KeyCorp upgraded shares of BILL from a “sector weight” rating to an “overweight” rating and set a $115.00 price target on the stock in a research note on Wednesday, December 18th. Piper Sandler lifted their target price on BILL from $60.00 to $85.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. Finally, Keefe, Bruyette & Woods decreased their price target on BILL from $100.00 to $95.00 and set a “market perform” rating for the company in a research note on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $85.00.

BILL Price Performance

Shares of NYSE:BILL traded up $0.74 during midday trading on Friday, hitting $88.98. The stock had a trading volume of 1,783,539 shares, compared to its average volume of 2,587,056. The company’s 50-day moving average price is $87.92 and its 200-day moving average price is $65.30. The company has a market capitalization of $9.21 billion, a P/E ratio of -269.63, a price-to-earnings-growth ratio of 83.30 and a beta of 1.72. BILL has a fifty-two week low of $43.11 and a fifty-two week high of $97.86. The company has a quick ratio of 1.53, a current ratio of 1.53 and a debt-to-equity ratio of 0.23.

Insider Transactions at BILL

In related news, SVP Germaine Cota sold 1,525 shares of the firm’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 transaction, the senior vice president now owns 5,348 shares in the company, valued at $417,090.52. This trade represents a 22.19 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Alison Wagonfeld sold 779 shares of the firm’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $90.00, for a total value of $70,110.00. Following the completion of the transaction, the director now owns 259 shares in the company, valued at $23,310. This represents a 75.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,823 shares of company stock valued at $218,887. 4.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Atomi Financial Group Inc. bought a new stake in shares of BILL in the 4th quarter valued at $275,000. Crossmark Global Holdings Inc. bought a new stake in BILL during the fourth quarter valued at $398,000. UMB Bank n.a. acquired a new stake in BILL during the 4th quarter worth about $35,000. Aaron Wealth Advisors LLC raised its position in shares of BILL by 10.9% in the 4th quarter. Aaron Wealth Advisors LLC now owns 4,618 shares of the company’s stock worth $391,000 after acquiring an additional 455 shares in the last quarter. Finally, Kera Capital Partners Inc. acquired a new position in shares of BILL in the 4th quarter valued at about $259,000. 97.99% of the stock is owned by institutional investors.

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.