BILL (NYSE:BILL) Sees Unusually-High Trading Volume Following Analyst Upgrade

BILL Holdings, Inc. (NYSE:BILL) shares saw strong trading volume on Wednesday after Robert W. Baird raised their price target on the stock from $74.00 to $100.00. Robert W. Baird currently has a neutral rating on the stock. 3,124,588 shares traded hands during mid-day trading, an increase of 62% from the previous session’s volume of 1,923,970 shares.The stock last traded at $90.16 and had previously closed at $88.48.

Other research analysts also recently issued research reports about the stock. BNP Paribas upgraded shares of BILL from a “neutral” rating to an “outperform” rating and set a $90.00 target price on the stock in a research report on Thursday, September 12th. JPMorgan Chase & Co. cut their price objective on shares of BILL from $80.00 to $60.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 20th. UBS Group decreased their target price on BILL from $85.00 to $65.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. Piper Sandler increased their price target on BILL from $60.00 to $85.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. Finally, Susquehanna reissued a “positive” rating and issued a $100.00 price objective on shares of BILL in a research note on Monday, August 19th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $78.28.

Insider Buying and Selling

In related news, Director Alison Wagonfeld sold 519 shares of BILL stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $57.50, for a total value of $29,842.50. Following the completion of the sale, the director now owns 1,038 shares of the company’s stock, valued at approximately $59,685. This trade represents a 33.33 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Germaine Cota sold 1,525 shares of the stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $77.99, for a total transaction of $118,934.75. Following the transaction, the senior vice president now owns 5,348 shares of the company’s stock, valued at $417,090.52. This represents a 22.19 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,823 shares of company stock valued at $218,887. 4.20% of the stock is owned by insiders.

Institutional Investors Weigh In On BILL

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Brooklyn Investment Group purchased a new stake in shares of BILL in the third quarter worth $28,000. Advisors Asset Management Inc. increased its stake in BILL by 30.8% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,101 shares of the company’s stock worth $58,000 after acquiring an additional 259 shares during the last quarter. Venturi Wealth Management LLC raised its holdings in shares of BILL by 377.8% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,290 shares of the company’s stock valued at $68,000 after acquiring an additional 1,020 shares in the last quarter. Covestor Ltd boosted its position in shares of BILL by 15.1% during the 3rd quarter. Covestor Ltd now owns 1,897 shares of the company’s stock valued at $100,000 after acquiring an additional 249 shares during the last quarter. Finally, Blue Trust Inc. increased its position in shares of BILL by 1,167.5% in the third quarter. Blue Trust Inc. now owns 1,914 shares of the company’s stock worth $101,000 after purchasing an additional 1,763 shares during the last quarter. 97.99% of the stock is currently owned by institutional investors.

BILL Price Performance

The firm has a market capitalization of $9.90 billion, a PE ratio of -289.73 and a beta of 1.72. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.53 and a quick ratio of 1.53. The business’s 50 day moving average is $69.24 and its two-hundred day moving average is $57.54.

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.