Stock Traders Buy High Volume of Put Options on BILL (NYSE:BILL)

Key Points

• Investors significantly increased their positions in BILL by acquiring 7,023 put options, marking a 30% rise from the usual volume.
• Insider Rajesh A. Aji sold 1,780 shares of BILL stock, resulting in a 16.07% decrease in his ownership, reflecting a broader trend of insider selling within the company.
• Several large institutional investors have recently boosted their stakes in BILL, with 97.99% of the company's stock now held by institutional investors after significant growth from firms like Temasek Holdings and Ameriprise Financial.

BILL Holdings, Inc. (NYSE:BILL - Get Free Report) was the target of some unusual options trading on Wednesday. Stock investors acquired 7,023 put options on the company. Thisrepresentsanincreaseofapproximately30% compared to the average volume of 5,393 put options.

Insiders Place Their Bets

In other news, insider Rajesh A. Aji sold 1,780 shares of BILL stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $45.25, for a total transaction of $80,545.00. Following the transaction, the insider owned 9,298 shares in the company, valued at approximately $420,734.50. The trade was a 16.07% decrease in their ownership of the stock. 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 BILL stock in a transaction on Friday, May 30th. The shares were sold at an average price of $42.55, for a total value of $73,100.90. Following the transaction, the senior vice president owned 9,512 shares in the company, valued at $404,735.60. This represents a 15.30% decrease in their position. The disclosure for this sale can be found here. Insiders own 4.20% of the company's stock.

Institutional Investors Weigh In On BILL

Several large investors have recently modified their holdings of the stock. Temasek Holdings Private Ltd grew its stake in shares of BILL by 36.4% in the 1st quarter. Temasek Holdings Private Ltd now owns 3,719,895 shares of the company's stock valued at $170,706,000 after purchasing an additional 992,591 shares during the period. Greenhouse Funds LLLP grew its position in BILL by 23.0% during the 2nd quarter. Greenhouse Funds LLLP now owns 2,889,979 shares of the company's stock worth $133,690,000 after acquiring an additional 541,213 shares during the last quarter. Ameriprise Financial Inc. grew its position in BILL by 23.6% during the 1st quarter. Ameriprise Financial Inc. now owns 2,490,921 shares of the company's stock worth $114,308,000 after acquiring an additional 475,100 shares during the last quarter. Dimensional Fund Advisors LP grew its position in BILL by 110.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,489,918 shares of the company's stock worth $114,265,000 after acquiring an additional 1,309,337 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in BILL by 133.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,038,609 shares of the company's stock worth $93,552,000 after acquiring an additional 1,165,398 shares during the last quarter. 97.99% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

BILL has been the subject of a number of research reports. Canaccord Genuity Group reduced their price objective on BILL from $105.00 to $75.00 and set a "buy" rating for the company in a research report on Tuesday, May 13th. BTIG Research began coverage on BILL in a research report on Wednesday, April 30th. They issued a "buy" rating and a $60.00 price target for the company. Truist Financial boosted their price target on BILL from $47.00 to $50.00 and gave the stock a "hold" rating in a research report on Thursday, July 17th. Morgan Stanley cut BILL from an "overweight" rating to an "equal weight" rating and reduced their price target for the stock from $60.00 to $55.00 in a research report on Wednesday, June 11th. Finally, KeyCorp reduced their price target on BILL from $70.00 to $60.00 and set an "overweight" rating for the company in a research report on Wednesday, April 30th. Eleven analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, BILL currently has an average rating of "Moderate Buy" and an average price target of $62.61.

BILL Stock Performance

BILL traded up $0.86 on Wednesday, hitting $41.49. 759,285 shares of the stock traded hands, compared to its average volume of 2,640,723. BILL has a 52 week low of $36.55 and a 52 week high of $100.19. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $4.27 billion, a PE ratio of -345.64, a P/E/G ratio of 9.11 and a beta of 1.35. The business has a fifty day moving average price of $44.04 and a two-hundred day moving average price of $45.95.

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.

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