BILL Holdings, Inc. (NYSE:BILL) Shares Sold by Jackson Square Partners LLC

Key Points

• Jackson Square Partners LLC reduced its stock position in BILL Holdings, Inc. by 16.8%, now holding approximately $12.27 million worth of shares.
• Two notable analyst actions include Morgan Stanley downgrading BILL from an "overweight" rating to "equal weight" with a revised price target of $55, while Truist Financial raised its target price to $50.
• Insider activity includes Germaine Cota and Rajesh A. Aji each selling shares, resulting in a decrease of 15.3% and 16.07% in their respective ownership stakes.

Jackson Square Partners LLC lowered its stake in BILL Holdings, Inc. (NYSE:BILL - Free Report) by 16.8% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 267,387 shares of the company's stock after selling 53,862 shares during the quarter. Jackson Square Partners LLC owned approximately 0.26% of BILL worth $12,270,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD lifted its stake in shares of BILL by 10.7% during the 4th 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. Invesco Ltd. increased its stake in BILL by 828.1% in the fourth quarter. Invesco Ltd. now owns 1,301,720 shares of the company's stock valued at $110,269,000 after purchasing an additional 1,161,457 shares during the last quarter. Massachusetts Financial Services Co. MA purchased a new position in BILL during the first quarter worth about $32,460,000. Fuller & Thaler Asset Management Inc. acquired a new stake in BILL in the 4th quarter worth about $55,743,000. Finally, Frontier Capital Management Co. LLC boosted its stake in BILL by 86.9% in the 4th quarter. Frontier Capital Management Co. LLC now owns 1,145,931 shares of the company's stock worth $97,072,000 after buying an additional 532,726 shares during the last quarter. Hedge funds and other institutional investors own 97.99% of the company's stock.

Insider Buying and Selling at BILL

In other BILL news, insider Rajesh A. Aji sold 1,780 shares of the company's 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 completion of the transaction, the insider directly owned 9,298 shares of the company's stock, valued at $420,734.50. This represents a 16.07% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Germaine Cota sold 1,718 shares of the firm's stock in a transaction dated Friday, May 30th. The shares were 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. This represents a 15.30% 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.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Needham & Company LLC reaffirmed a "buy" rating and set a $75.00 price objective on shares of BILL in a research note on Thursday, June 26th. Morgan Stanley lowered shares of BILL from an "overweight" rating to an "equal weight" rating and dropped their price target for the stock from $60.00 to $55.00 in a research report on Wednesday, June 11th. Mizuho cut their price target on shares of BILL from $53.00 to $50.00 and set a "neutral" rating on the stock in a research note on Monday, May 12th. KeyCorp lowered their price objective on shares of BILL from $70.00 to $60.00 and set an "overweight" rating for the company in a research note on Wednesday, April 30th. Finally, Robert W. Baird cut their target price on BILL from $55.00 to $52.00 and set a "neutral" rating on the stock in a research report on Friday, July 18th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, BILL currently has an average rating of "Moderate Buy" and a consensus target price of $62.10.

BILL Stock Down 2.0%

BILL stock traded down $0.82 during midday trading on Friday, hitting $40.69. 3,363,899 shares of the company were exchanged, compared to its average volume of 1,780,787. The company has a market cap of $4.19 billion, a PE ratio of -339.06, a price-to-earnings-growth ratio of 11.76 and a beta of 1.35. BILL Holdings, Inc. has a fifty-two week low of $36.55 and a fifty-two week high of $100.19. The company's fifty day moving average price is $44.86 and its 200-day moving average price is $50.57. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.69 and a quick ratio of 1.69.

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