Virtu Financial LLC Acquires New Stake in BILL Holdings, Inc. (NYSE:BILL)

Key Points

• Virtu Financial LLC acquired 23,305 shares of BILL Holdings, valued at approximately $1,069,000, marking an expansion of institutional investment in the company.
• BILL's stock has seen **analyst adjustments** with Truist Financial raising its price target to **$50.00** and Needham & Company maintaining a **buy rating** with a target of **$75.00**, while the stock currently trades at around **$39.11**.
• The company has a **high institutional ownership** percentage of **97.99%**, highlighting significant trust and investment from hedge funds and other institutions.

Virtu Financial LLC acquired a new position in shares of BILL Holdings, Inc. (NYSE:BILL - Free Report) in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 23,305 shares of the company's stock, valued at approximately $1,069,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. CoreCap Advisors LLC purchased a new stake in BILL during the 4th quarter worth $30,000. Coppell Advisory Solutions LLC boosted its position in BILL by 202.5% during the 4th quarter. Coppell Advisory Solutions LLC now owns 369 shares of the company's stock worth $32,000 after purchasing an additional 247 shares during the period. GeoWealth Management LLC purchased a new stake in BILL during the 4th quarter worth $32,000. Fifth Third Bancorp boosted its position in BILL by 134.1% during the 1st quarter. Fifth Third Bancorp now owns 749 shares of the company's stock worth $34,000 after purchasing an additional 429 shares during the period. Finally, Farther Finance Advisors LLC boosted its position in BILL by 2,189.1% during the 1st quarter. Farther Finance Advisors LLC now owns 1,053 shares of the company's stock worth $48,000 after purchasing an additional 1,007 shares during the period. 97.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, SVP Germaine Cota sold 1,718 shares of the stock in a transaction dated Friday, May 30th. The shares were 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 in the company, valued at $404,735.60. This represents a 15.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Rajesh A. Aji sold 1,780 shares of the stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $45.25, for a total transaction of $80,545.00. Following the sale, the insider owned 9,298 shares in the company, valued at approximately $420,734.50. This trade represents a 16.07% decrease in their position. The disclosure for this sale can be found here. 4.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages recently weighed in on BILL. Mizuho decreased their price target on shares of BILL from $53.00 to $50.00 and set a "neutral" rating for the company in a research report on Monday, May 12th. KeyCorp decreased their price objective on shares of BILL from $70.00 to $60.00 and set an "overweight" rating for the company in a research report on Wednesday, April 30th. BTIG Research initiated coverage on shares of BILL in a research report on Wednesday, April 30th. They issued a "buy" rating and a $60.00 price objective for the company. Oppenheimer upped their price objective on shares of BILL from $50.00 to $55.00 and gave the company an "outperform" rating in a research report on Friday, May 9th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $75.00 price objective on shares of BILL in a research report on Thursday, June 26th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, BILL presently has an average rating of "Moderate Buy" and an average price target of $62.10.

BILL Stock Performance

BILL traded up $0.92 on Friday, hitting $40.40. 3,086,234 shares of the company's stock were exchanged, compared to its average volume of 2,325,186. The firm has a market cap of $4.16 billion, a PE ratio of -336.64, a P/E/G ratio of 8.73 and a beta of 1.35. BILL Holdings, Inc. has a twelve month low of $36.55 and a twelve month high of $100.19. The stock has a fifty day moving average of $44.33 and a two-hundred day moving average of $48.71. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 0.43.

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.