BILL (NYSE:BILL) Shares Gap Up Following Analyst Upgrade

BILL Holdings, Inc. (NYSE:BILL)’s stock price gapped up prior to trading on Thursday after Wells Fargo & Company raised their price target on the stock from $55.00 to $65.00. The stock had previously closed at $87.09, but opened at $90.50. Wells Fargo & Company currently has an underweight rating on the stock. BILL shares last traded at $88.85, with a volume of 289,583 shares.

Several other equities research analysts have also weighed in on the company. The Goldman Sachs Group upgraded BILL from a “neutral” rating to a “buy” rating and boosted their target price 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 objective for the company in a report on Thursday. Susquehanna lifted their target price on shares of BILL from $91.00 to $100.00 and gave the stock a “positive” rating in a report on Tuesday, January 7th. Mizuho upped their price target on shares of BILL from $64.00 to $75.00 and gave the company a “neutral” rating in a report on Friday, December 13th. Finally, Piper Sandler raised their price target on BILL from $60.00 to $85.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. One analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $85.00.

Insider Buying and Selling at BILL

In other BILL news, SVP Germaine Cota sold 1,525 shares of the company’s stock in a transaction on 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 directly owns 5,348 shares in the company, valued at $417,090.52. This represents a 22.19 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Alison Wagonfeld sold 519 shares of BILL stock in a transaction on Monday, October 21st. The shares were 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 of the company’s stock, valued at approximately $59,685. The trade was a 33.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,823 shares of company stock valued at $218,887 in the last 90 days. 4.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On BILL

A number of hedge funds have recently made changes to their positions in BILL. GAMMA Investing LLC boosted its position in BILL by 74.9% in the fourth quarter. GAMMA Investing LLC now owns 306 shares of the company’s stock valued at $26,000 after buying an additional 131 shares in the last quarter. Brooklyn Investment Group acquired a new position in shares of BILL in the 3rd quarter worth approximately $28,000. Advisors Asset Management Inc. grew its position in BILL by 30.8% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,101 shares of the company’s stock worth $58,000 after acquiring an additional 259 shares during the last quarter. Venturi Wealth Management LLC raised its position in BILL by 377.8% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,290 shares of the company’s stock valued at $68,000 after purchasing an additional 1,020 shares during the last quarter. Finally, Versant Capital Management Inc boosted its stake in BILL by 26.7% in the fourth quarter. Versant Capital Management Inc now owns 1,615 shares of the company’s stock worth $137,000 after purchasing an additional 340 shares in the last quarter. Institutional investors and hedge funds own 97.99% of the company’s stock.

BILL Stock Up 1.2 %

The firm has a fifty day moving average price of $86.79 and a 200 day moving average price of $64.73. The company has a quick ratio of 1.53, a current ratio of 1.53 and a debt-to-equity ratio of 0.23. The company has a market cap of $9.12 billion, a P/E ratio of -267.15, a PEG ratio of 83.30 and a beta of 1.72.

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.