BILL Holdings, Inc. $BILL Shares Sold by Invesco Ltd.

Key Points

• Invesco Ltd. has reduced its stake in BILL Holdings, Inc. by 30.9%, selling 402,186 shares in the first quarter, resulting in a total holding of approximately 899,534 shares valued at $41.28 million.
• A significant 97.99% of BILL's stock is owned by institutional investors, with several firms, including Coppell Advisory Solutions LLC and Farther Finance Advisors LLC, increasing their positions dramatically in recent quarters.
• Brokerages maintain a generally positive outlook on BILL, with an average target price of $62.10 and ratings ranging from sell to buy, indicating moderately favorable market sentiment.

Invesco Ltd. cut its holdings in shares of BILL Holdings, Inc. (NYSE:BILL - Free Report) by 30.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 899,534 shares of the company's stock after selling 402,186 shares during the quarter. Invesco Ltd. owned 0.88% of BILL worth $41,280,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of BILL by 3,947.7% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 15,098 shares of the company's stock valued at $693,000 after purchasing an additional 14,725 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in BILL during the 1st quarter worth approximately $570,000. Cetera Investment Advisers acquired a new position in BILL in the 4th quarter valued at $467,000. GAMMA Investing LLC lifted its stake in shares of BILL by 303.9% in the first quarter. GAMMA Investing LLC now owns 1,236 shares of the company's stock worth $57,000 after buying an additional 930 shares in the last quarter. Finally, Asset Management One Co. Ltd. grew its position in shares of BILL by 145.6% in the first quarter. Asset Management One Co. Ltd. now owns 2,203 shares of the company's stock valued at $101,000 after purchasing an additional 1,306 shares in the last quarter. 97.99% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently issued reports on BILL. KeyCorp cut their price target on shares of BILL from $70.00 to $60.00 and set an "overweight" rating for the company in a report on Wednesday, April 30th. BTIG Research began coverage on shares of BILL in a research note on Wednesday, April 30th. They issued a "buy" rating and a $60.00 price target for the company. Needham & Company LLC restated a "buy" rating and set a $75.00 target price on shares of BILL in a research note on Thursday, June 26th. Deutsche Bank Aktiengesellschaft began coverage on BILL in a research note on Thursday, July 17th. They issued a "hold" rating and a $49.00 price target on the stock. Finally, Oppenheimer upped their target price on shares of BILL from $50.00 to $55.00 and gave the company an "outperform" rating in a report on Friday, May 9th. Eleven equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $62.20.

BILL Stock Performance

Shares of BILL stock traded down $0.4370 during midday trading on Thursday, hitting $41.2130. The company had a trading volume of 3,713,962 shares, compared to its average volume of 2,632,692. The stock has a market cap of $4.25 billion, a price-to-earnings ratio of -343.41, a PEG ratio of 9.14 and a beta of 1.35. 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's 50 day simple moving average is $44.12 and its 200 day simple moving average is $47.58. BILL Holdings, Inc. has a 52-week low of $36.55 and a 52-week high of $100.19.

Insiders Place Their Bets

In other BILL news, insider Rajesh A. Aji sold 1,780 shares of the business'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 transaction, the insider directly owned 9,298 shares of the company's stock, valued at approximately $420,734.50. The trade was a 16.07% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 of the company's stock, valued at $404,735.60. This represents a 15.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 4.20% of the company's stock.

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.