Vanguard Group Inc. Cuts Stake in BILL Holdings, Inc. $BILL

Key Points

• Vanguard Group Inc. reduced its stake in BILL Holdings, Inc. by 0.6%, owning approximately 10.24% of the company, valued at $479 million after selling 60,971 shares.
• Various institutional investors, including Price T Rowe Associates and Frontier Capital Management, have also adjusted their holdings in BILL, with institutional investors collectively owning 97.99% of the stock.
• BILL’s stock price recently increased by 2.3%, reaching $40.40, while analysts have varied in their ratings, with an average price target of $62.10 and a "Moderate Buy" consensus.

Vanguard Group Inc. reduced its stake in BILL Holdings, Inc. (NYSE:BILL - Free Report) by 0.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,438,550 shares of the company's stock after selling 60,971 shares during the period. Vanguard Group Inc. owned approximately 10.24% of BILL worth $479,025,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of BILL. CoreCap Advisors LLC bought a new stake in BILL during the 4th quarter valued at about $30,000. GeoWealth Management LLC bought a new stake in shares of BILL during the fourth quarter valued at approximately $32,000. Coppell Advisory Solutions LLC raised its holdings in BILL by 202.5% in 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. Fifth Third Bancorp raised its holdings in BILL by 134.1% in the 1st quarter. Fifth Third Bancorp now owns 749 shares of the company's stock worth $34,000 after acquiring an additional 429 shares during the last quarter. Finally, Farther Finance Advisors LLC lifted its position in BILL by 2,189.1% in the 1st quarter. Farther Finance Advisors LLC now owns 1,053 shares of the company's stock valued at $48,000 after acquiring an additional 1,007 shares in the last quarter. 97.99% of the stock is currently owned by institutional investors.

BILL Price Performance

Shares of BILL stock traded up $1.01 during trading on Monday, reaching $41.45. 2,305,133 shares of the stock traded hands, compared to its average volume of 2,592,938. BILL Holdings, Inc. has a 52-week low of $36.55 and a 52-week high of $100.19. 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 business has a fifty day simple moving average of $44.33 and a two-hundred day simple moving average of $48.05. The company has a market capitalization of $4.27 billion, a price-to-earnings ratio of -345.39, a P/E/G ratio of 8.94 and a beta of 1.35.

Insider Buying and Selling

In other BILL news, insider Rajesh A. Aji sold 1,780 shares of BILL stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $45.25, for a total value of $80,545.00. Following the sale, 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Germaine Cota sold 1,718 shares of the company's stock in a transaction that occurred 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 sale, the senior vice president directly owned 9,512 shares in the company, valued at $404,735.60. This trade represents a 15.30% 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.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. KeyCorp decreased their price target on BILL from $70.00 to $60.00 and set an "overweight" rating for the company in a research note on Wednesday, April 30th. Wells Fargo & Company decreased their target price on BILL from $43.00 to $40.00 and set an "underweight" rating for the company in a research report on Friday, May 9th. Citigroup lowered their price objective on shares of BILL from $88.00 to $67.00 and set a "buy" rating on the stock in a research report on Thursday, May 22nd. Canaccord Genuity Group dropped their price target on BILL from $105.00 to $75.00 and set a "buy" rating on the stock in a research note on Tuesday, May 13th. Finally, Morgan Stanley cut BILL from an "overweight" rating to an "equal weight" rating and reduced their price objective for the company from $60.00 to $55.00 in a research report on Wednesday, June 11th. One analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, BILL presently has a consensus rating of "Moderate Buy" and a consensus target price of $62.10.

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.