BILL Holdings, Inc. (NYSE:BILL) Shares Bought by Envestnet Asset Management Inc.

Key Points

• Envestnet Asset Management Inc. increased its stake in BILL Holdings, Inc. by 24.4% during the 1st quarter, owning approximately 0.10% of the company valued at $4.54 million.
• BILL Holdings, Inc. reported $0.50 earnings per share for the quarter, surpassing the consensus estimate of $0.37, with a 10.9% year-over-year revenue growth.
• Analysts have mixed ratings on BILL, with an average rating of "Hold" and a consensus price target of $62.10, indicating varied market expectations.

Envestnet Asset Management Inc. boosted its position in shares of BILL Holdings, Inc. (NYSE:BILL - Free Report) by 24.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 98,875 shares of the company's stock after acquiring an additional 19,378 shares during the quarter. Envestnet Asset Management Inc. owned 0.10% of BILL worth $4,537,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. CoreCap Advisors LLC acquired a new stake in shares of BILL during the 4th quarter worth about $30,000. GeoWealth Management LLC acquired a new stake in shares of BILL during the 4th quarter worth about $32,000. Coppell Advisory Solutions LLC raised its position in shares of 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 acquiring an additional 247 shares in the last quarter. Fifth Third Bancorp raised its position in shares of BILL by 134.1% during the 1st quarter. Fifth Third Bancorp now owns 749 shares of the company's stock worth $34,000 after acquiring an additional 429 shares in the last quarter. Finally, Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of BILL during the 4th quarter worth about $39,000. 97.99% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BILL has been the topic of several research analyst reports. Canaccord Genuity Group cut their price target on BILL from $105.00 to $75.00 and set a "buy" rating on the stock in a research report on Tuesday, May 13th. KeyCorp cut their price target on BILL from $70.00 to $60.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 30th. The Goldman Sachs Group cut their price target on BILL from $90.00 to $60.00 and set a "buy" rating on the stock in a research report on Wednesday, April 2nd. Mizuho cut their price target on BILL from $53.00 to $50.00 and set a "neutral" rating on the stock in a research report on Monday, May 12th. Finally, Piper Sandler cut their price target on BILL from $85.00 to $70.00 and set an "overweight" rating on the stock in a research report on Thursday, April 10th. One 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. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $62.10.

Insiders Place Their Bets

In related news, SVP Germaine Cota sold 1,718 shares of the company's stock in a transaction 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 completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Rajesh A. Aji sold 1,780 shares of the company's stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $45.25, for a total value of $80,545.00. Following the completion of the transaction, the insider owned 9,298 shares of the company's stock, valued at $420,734.50. The trade was a 16.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 4.20% of the company's stock.

BILL Price Performance

BILL traded down $0.66 during trading on Tuesday, reaching $45.42. 112,044 shares of the stock were exchanged, compared to its average volume of 2,567,539. The business's 50 day moving average price is $45.20 and its two-hundred day moving average price is $52.84. 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 capitalization of $4.68 billion, a price-to-earnings ratio of -377.78, a P/E/G ratio of 13.01 and a beta of 1.35. 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 released its quarterly 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 analysts' expectations of $355.85 million. During the same period in the previous year, the firm posted $0.60 earnings per share. The business's revenue for the quarter was up 10.9% compared to the same quarter last year. As a group, equities research analysts anticipate that BILL Holdings, Inc. will post 0.12 earnings per share for the current year.

BILL 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.