Algert Global LLC Reduces Stake in BILL Holdings, Inc. $BILL

Key Points

• Algert Global LLC reduced its stake in BILL Holdings, Inc. by 55%, selling 28,450 shares, resulting in 23,262 shares valued at over $1 million.
• Institutional investors now own 97.99% of BILL's stock, indicating strong institutional backing.
• BILL's stock rating reflects a consensus of "Moderate Buy" from 11 analysts, with a target price averaging $62.32, despite mixed adjustments from various research firms.

Algert Global LLC lessened its position in shares of BILL Holdings, Inc. (NYSE:BILL - Free Report) by 55.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 23,262 shares of the company's stock after selling 28,450 shares during the period. Algert Global LLC's holdings in BILL were worth $1,067,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Dimensional Fund Advisors LP lifted its holdings in BILL by 110.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,489,918 shares of the company's stock worth $114,265,000 after purchasing an additional 1,309,337 shares in the last quarter. Massachusetts Financial Services Co. MA purchased a new stake in BILL during the 1st quarter worth about $32,460,000. Frontier Capital Management Co. LLC lifted its holdings in BILL by 86.9% during the 4th quarter. Frontier Capital Management Co. LLC now owns 1,145,931 shares of the company's stock worth $97,072,000 after purchasing an additional 532,726 shares in the last quarter. Two Sigma Advisers LP lifted its holdings in BILL by 61.0% during the 4th quarter. Two Sigma Advisers LP now owns 1,112,500 shares of the company's stock worth $94,240,000 after purchasing an additional 421,700 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in BILL by 84.9% during the 4th quarter. Northern Trust Corp now owns 828,586 shares of the company's stock worth $70,190,000 after purchasing an additional 380,509 shares in the last quarter. Hedge funds and other institutional investors own 97.99% of the company's stock.

Insider Activity

In other news, SVP Germaine Cota sold 1,718 shares of the stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $42.55, for a total transaction of $73,100.90. Following the transaction, the senior vice president directly owned 9,512 shares in the company, valued at approximately $404,735.60. This 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 this link. Also, insider Rajesh A. Aji sold 1,780 shares of the stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $45.25, for a total value of $80,545.00. Following the transaction, the insider owned 9,298 shares in the company, valued at $420,734.50. This trade represents a 16.07% 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 corporate insiders.

BILL Price Performance

Shares of BILL stock traded up $0.85 during trading on Wednesday, hitting $41.48. 3,809,071 shares of the stock traded hands, compared to its average volume of 2,660,211. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 0.43. The stock has a market cap of $4.27 billion, a price-to-earnings ratio of -345.02, a PEG ratio of 9.11 and a beta of 1.35. The firm's fifty day moving average is $44.04 and its 200-day moving average is $45.95. BILL Holdings, Inc. has a 52 week low of $36.55 and a 52 week high of $100.19.

Analysts Set New Price Targets

A number of brokerages recently issued reports on BILL. Canaccord Genuity Group dropped their price objective on BILL from $105.00 to $75.00 and set a "buy" rating on the stock in a report on Tuesday, May 13th. Mizuho lowered their price target on BILL from $53.00 to $50.00 and set a "neutral" rating on the stock in a report on Monday, May 12th. Citigroup lowered their price target on BILL from $88.00 to $67.00 and set a "buy" rating on the stock in a report on Thursday, May 22nd. Needham & Company LLC reaffirmed a "buy" rating and issued a $75.00 price target on shares of BILL in a report on Thursday, June 26th. Finally, Oppenheimer raised their price target on BILL from $50.00 to $55.00 and gave the company an "outperform" rating in a report on Friday, May 9th. Eleven investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $62.61.

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.