ARK Investment Management LLC Reduces Holdings in BILL Holdings, Inc. (NYSE:BILL)

Key Points

• ARK Investment Management LLC reduced its holdings in BILL Holdings, Inc. by 9.7%, now owning approximately 0.16% of the company, valued at $7.4 million.
• Other institutional investors have increased their stakes in BILL, with Groupama Asset Management boosting its holdings by 162.8% during the fourth quarter.
• BILL reported earnings of $0.50 per share, exceeding expectations, and had a revenue increase of 10.9% year-over-year.

ARK Investment Management LLC decreased its holdings in shares of BILL Holdings, Inc. (NYSE:BILL - Free Report) by 9.7% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 161,212 shares of the company's stock after selling 17,353 shares during the period. ARK Investment Management LLC owned approximately 0.16% of BILL worth $7,398,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of BILL. Groupama Asset Managment lifted its holdings in shares of BILL by 162.8% during the fourth quarter. Groupama Asset Managment now owns 5,650,000 shares of the company's stock worth $478,611,000 after purchasing an additional 3,500,000 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of BILL by 10.7% during the fourth 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 during the period. Norges Bank acquired a new stake in shares of BILL during the fourth quarter worth about $99,906,000. Invesco Ltd. lifted its holdings in shares of BILL by 828.1% during the fourth quarter. Invesco Ltd. now owns 1,301,720 shares of the company's stock worth $110,269,000 after purchasing an additional 1,161,457 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in shares of BILL by 112.6% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,610,447 shares of the company's stock worth $136,421,000 after purchasing an additional 852,863 shares during the period. Hedge funds and other institutional investors own 97.99% of the company's stock.

BILL Trading Up 1.4%

Shares of BILL stock opened at $45.88 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.69 and a quick ratio of 1.69. The company has a market cap of $4.73 billion, a price-to-earnings ratio of -382.26, a PEG ratio of 12.82 and a beta of 1.35. The stock has a 50 day simple moving average of $45.21 and a 200-day simple moving average of $53.50. BILL Holdings, Inc. has a 1-year low of $36.55 and a 1-year high of $100.19.

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

Insider Activity at BILL

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

Analyst Ratings Changes

BILL has been the subject of a number of research reports. Truist Financial lifted their target price on BILL from $47.00 to $50.00 and gave the stock a "hold" rating in a report on Thursday, July 17th. Robert W. Baird decreased their target price on BILL from $55.00 to $52.00 and set a "neutral" rating for the company in a report on Friday, July 18th. BTIG Research initiated coverage on BILL in a report on Wednesday, April 30th. They set a "buy" rating and a $60.00 target price for the company. Deutsche Bank Aktiengesellschaft began coverage on BILL in a report on Thursday, July 17th. They set a "hold" rating and a $49.00 target price for the company. Finally, KeyCorp decreased their price target on BILL from $70.00 to $60.00 and set an "overweight" rating for the company in a report on Wednesday, April 30th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $62.10.

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.

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