BILL (NYSE:BILL) Stock Price Down 2.6% After Analyst Downgrade

BILL Holdings, Inc. (NYSE:BILL - Get Free Report) was down 2.6% on Friday after Robert W. Baird lowered their price target on the stock from $55.00 to $52.00. Robert W. Baird currently has a neutral rating on the stock. BILL traded as low as $45.88 and last traded at $46.20. Approximately 204,595 shares traded hands during mid-day trading, a decline of 91% from the average daily volume of 2,350,011 shares. The stock had previously closed at $47.41.

A number of other research analysts have also commented on the company. Needham & Company LLC reissued a "buy" rating and set a $75.00 price target on shares of BILL in a report on Thursday, June 26th. Keefe, Bruyette & Woods lowered their price target on BILL from $77.00 to $54.00 and set a "market perform" rating on the stock in a report on Monday, March 31st. UBS Group raised their price target on BILL from $60.00 to $65.00 and gave the company a "buy" rating in a report on Friday, May 9th. Piper Sandler lowered their price target on BILL from $85.00 to $70.00 and set an "overweight" rating on the stock in a report on Thursday, April 10th. Finally, Deutsche Bank Aktiengesellschaft started coverage on BILL in a report on Thursday. They set a "hold" rating and a $49.00 price target on the stock. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $62.10.

Insider Activity at BILL

In other news, SVP Germaine Cota sold 1,718 shares of BILL stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $42.55, for a total transaction of $73,100.90. Following the sale, the senior vice president owned 9,512 shares of the company's stock, valued at approximately $404,735.60. This trade represents a 15.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Rajesh A. Aji sold 1,780 shares of BILL stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $45.25, for a total value of $80,545.00. Following the sale, the insider directly owned 9,298 shares in the company, valued at $420,734.50. The trade was a 16.07% decrease in their position. The disclosure for this sale can be found here. 4.20% of the stock is currently owned by company insiders.

Institutional Trading of BILL

Several institutional investors have recently modified their holdings of the company. Price T Rowe Associates Inc. MD grew its holdings in shares of BILL by 10.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 12,879,448 shares of the company's stock worth $1,091,019,000 after purchasing an additional 1,241,432 shares in the last quarter. Groupama Asset Managment boosted its stake in BILL by 162.8% in the 4th quarter. Groupama Asset Managment now owns 5,650,000 shares of the company's stock valued at $478,611,000 after buying an additional 3,500,000 shares in the last quarter. Temasek Holdings Private Ltd boosted its stake in BILL by 36.4% in the 1st quarter. Temasek Holdings Private Ltd now owns 3,719,895 shares of the company's stock valued at $170,706,000 after buying an additional 992,591 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in BILL by 23.6% in the 1st quarter. Ameriprise Financial Inc. now owns 2,490,921 shares of the company's stock valued at $114,308,000 after buying an additional 475,100 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in BILL by 110.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,489,918 shares of the company's stock valued at $114,265,000 after buying an additional 1,309,337 shares in the last quarter. Institutional investors and hedge funds own 97.99% of the company's stock.

BILL Trading Down 2.8%

The company has a 50 day moving average of $45.33 and a 200 day moving average of $55.14. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 0.43. The firm has a market cap of $4.75 billion, a price-to-earnings ratio of -384.42, a price-to-earnings-growth ratio of 9.72 and a beta of 1.35.

BILL (NYSE:BILL - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported $0.50 earnings per share for the quarter, topping analysts' consensus estimates of $0.37 by $0.13. BILL had a return on equity of 1.21% and a net margin of 2.70%. The company had revenue of $358.22 million during the quarter, compared to the consensus estimate of $355.85 million. During the same quarter in the previous year, the company posted $0.60 earnings per share. The firm's quarterly revenue was up 10.9% on a year-over-year basis. As a group, research analysts anticipate that BILL Holdings, Inc. will post 0.12 EPS for the current 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.

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