Maxi Investments CY Ltd Purchases 40,415 Shares of BILL Holdings, Inc. (NYSE:BILL)

Key Points

• Maxi Investments CY Ltd significantly increased its stake in BILL Holdings, Inc. by 277.1% in the first quarter, acquiring an additional 40,415 shares, bringing its total ownership to about 55,000 shares valued at approximately $2.5 million.
• BILL stock is currently priced at $42.36, with a recent 1.5% increase, while analysts have set target prices ranging from $40.00 to $75.00.
• The company reported a 10.9% year-over-year revenue increase for the last quarter, achieving revenues of $358.22 million, with earnings per share of $0.50, exceeding analysts' expectations.

Maxi Investments CY Ltd increased its holdings in shares of BILL Holdings, Inc. (NYSE:BILL - Free Report) by 277.1% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 55,000 shares of the company's stock after purchasing an additional 40,415 shares during the quarter. Maxi Investments CY Ltd owned 0.05% of BILL worth $2,524,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of BILL. CoreCap Advisors LLC bought a new position in shares of BILL during the fourth quarter worth about $30,000. Coppell Advisory Solutions LLC boosted its position in 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 during the last quarter. GeoWealth Management LLC bought a new position in shares of BILL during the 4th quarter worth approximately $32,000. Fifth Third Bancorp raised its holdings in shares of BILL by 134.1% in the first quarter. Fifth Third Bancorp now owns 749 shares of the company's stock valued at $34,000 after purchasing an additional 429 shares during the last quarter. Finally, Farther Finance Advisors LLC lifted its position in shares of BILL by 2,189.1% in the first quarter. Farther Finance Advisors LLC now owns 1,053 shares of the company's stock worth $48,000 after purchasing an additional 1,007 shares in the last quarter. 97.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at BILL

In other BILL news, insider Rajesh A. Aji sold 1,780 shares of BILL 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 sale, the insider owned 9,298 shares in the company, valued at $420,734.50. The trade was a 16.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Germaine Cota sold 1,718 shares of the stock in a transaction that occurred on 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 owned 9,512 shares in the company, valued at approximately $404,735.60. The trade was a 15.30% decrease in their position. The disclosure for this sale can be found here. 4.20% of the stock is owned by company insiders.

BILL Stock Performance

BILL stock traded down $0.71 during trading hours on Thursday, hitting $41.51. The company had a trading volume of 2,127,455 shares, compared to its average volume of 1,756,587. The firm has a 50-day moving average of $44.92 and a 200 day moving average of $50.91. 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 firm has a market cap of $4.28 billion, a PE ratio of -345.91, a PEG ratio of 11.96 and a beta of 1.35. BILL Holdings, Inc. has a one year low of $36.55 and a one 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 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 return on equity of 1.21% and a net margin of 2.70%. The firm's quarterly revenue was up 10.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.60 earnings per share. On average, sell-side analysts expect that BILL Holdings, Inc. will post 0.12 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Mizuho lowered 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. Morgan Stanley lowered BILL from an "overweight" rating to an "equal weight" rating and dropped their target price for the stock from $60.00 to $55.00 in a report on Wednesday, June 11th. Needham & Company LLC reissued a "buy" rating and set a $75.00 price target on shares of BILL in a research report on Thursday, June 26th. Canaccord Genuity Group lowered 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. Finally, Truist Financial upped their price objective on BILL from $47.00 to $50.00 and gave the stock a "hold" rating in a research note on Thursday, July 17th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $62.10.

About BILL

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.