Granite Point Capital Management L.P. Has $2.99 Million Stock Holdings in Bill.com Holdings, Inc. (NYSE:BILL)

Granite Point Capital Management L.P. grew its holdings in Bill.com Holdings, Inc. (NYSE:BILLGet Rating) by 50.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 12,000 shares of the company’s stock after buying an additional 4,000 shares during the quarter. Granite Point Capital Management L.P.’s holdings in Bill.com were worth $2,990,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the company. PNC Financial Services Group Inc. raised its stake in shares of Bill.com by 18.5% in the 3rd quarter. PNC Financial Services Group Inc. now owns 218 shares of the company’s stock valued at $59,000 after buying an additional 34 shares in the last quarter. Rafferty Asset Management LLC increased its position in shares of Bill.com by 2.6% during the 4th quarter. Rafferty Asset Management LLC now owns 2,150 shares of the company’s stock worth $536,000 after purchasing an additional 54 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. increased its position in shares of Bill.com by 5.4% during the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,162 shares of the company’s stock worth $292,000 after purchasing an additional 60 shares in the last quarter. Ellevest Inc. increased its position in shares of Bill.com by 13.1% during the 4th quarter. Ellevest Inc. now owns 666 shares of the company’s stock worth $166,000 after purchasing an additional 77 shares in the last quarter. Finally, Baker Tilly Wealth Management LLC increased its position in shares of Bill.com by 0.9% during the 4th quarter. Baker Tilly Wealth Management LLC now owns 9,149 shares of the company’s stock worth $2,279,000 after purchasing an additional 83 shares in the last quarter. Institutional investors own 99.01% of the company’s stock.

Shares of NYSE BILL opened at $118.63 on Friday. The firm has a market capitalization of $12.37 billion, a PE ratio of -41.05 and a beta of 2.32. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.15. Bill.com Holdings, Inc. has a 1 year low of $89.87 and a 1 year high of $348.49. The firm’s 50-day moving average is $182.70 and its 200-day moving average is $218.98.

Bill.com (NYSE:BILLGet Rating) last released its quarterly earnings data on Thursday, May 5th. The company reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.08. Bill.com had a negative net margin of 54.96% and a negative return on equity of 5.05%. The business had revenue of $166.90 million for the quarter, compared to analyst estimates of $157.90 million. During the same quarter last year, the firm earned ($0.15) EPS. Bill.com’s quarterly revenue was up 179.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Bill.com Holdings, Inc. will post -2.27 earnings per share for the current fiscal year.

A number of brokerages recently issued reports on BILL. Wells Fargo & Company began coverage on shares of Bill.com in a research report on Monday, April 4th. They set an “overweight” rating and a $284.00 target price for the company. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Bill.com from $360.00 to $265.00 and set a “buy” rating for the company in a research report on Tuesday, January 25th. Evercore ISI dropped their target price on shares of Bill.com from $300.00 to $200.00 and set an “inline” rating for the company in a research report on Friday, February 4th. Citigroup started coverage on shares of Bill.com in a research report on Tuesday, February 1st. They set a “buy” rating and a $209.00 target price for the company. Finally, JPMorgan Chase & Co. started coverage on shares of Bill.com in a research report on Friday. They issued an “overweight” rating and a $140.00 price objective for the company. Four research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, Bill.com currently has a consensus rating of “Buy” and a consensus price target of $252.18.

In other Bill.com news, CEO Rene A. Lacerte sold 6,429 shares of the firm’s stock in a transaction that occurred on Tuesday, March 1st. The shares were sold at an average price of $238.75, for a total transaction of $1,534,923.75. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Bora Chung sold 1,096 shares of the firm’s stock in a transaction that occurred on Tuesday, March 1st. The stock was sold at an average price of $238.77, for a total transaction of $261,691.92. The disclosure for this sale can be found here. Insiders have sold a total of 88,687 shares of company stock worth $16,094,897 in the last three months. 5.70% of the stock is owned by insiders.

Bill.com Profile (Get Rating)

Bill.com Holdings, Inc provides cloud-based software that simplifies, digitizes, and automates back-office financial operations for small and midsize businesses worldwide. It offers artificial intelligence enabled financial software platform that creates seamless connections among users, suppliers, and the clients.

Further Reading

Institutional Ownership by Quarter for Bill.com (NYSE:BILL)

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