Pictet Asset Management Holding SA Buys 1,337 Shares of BILL Holdings, Inc. (NYSE:BILL)

Pictet Asset Management Holding SA lifted its stake in BILL Holdings, Inc. (NYSE:BILL) by 10.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,708 shares of the company’s stock after acquiring an additional 1,337 shares during the period. Pictet Asset Management Holding SA’s holdings in BILL were worth $1,246,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Norges Bank bought a new position in BILL in the fourth quarter worth about $99,906,000. Bank of New York Mellon Corp lifted its position in BILL by 51.5% during the fourth quarter. Bank of New York Mellon Corp now owns 807,614 shares of the company’s stock valued at $68,413,000 after acquiring an additional 274,701 shares during the last quarter. Two Sigma Advisers LP boosted its stake in BILL by 87.0% in the third quarter. Two Sigma Advisers LP now owns 690,800 shares of the company’s stock valued at $36,447,000 after acquiring an additional 321,400 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of BILL by 5,201.3% during the fourth quarter. Principal Financial Group Inc. now owns 391,604 shares of the company’s stock worth $33,173,000 after purchasing an additional 384,217 shares in the last quarter. Finally, Telemark Asset Management LLC lifted its holdings in shares of BILL by 100.0% during the 4th quarter. Telemark Asset Management LLC now owns 300,000 shares of the company’s stock valued at $25,413,000 after purchasing an additional 150,000 shares during the last quarter. 97.99% of the stock is currently owned by hedge funds and other institutional investors.

BILL Price Performance

NYSE:BILL opened at $39.53 on Friday. The company has a 50 day moving average price of $59.30 and a 200-day moving average price of $69.60. BILL Holdings, Inc. has a 1-year low of $38.03 and a 1-year high of $100.19. The firm has a market cap of $4.03 billion, a price-to-earnings ratio of -3,953.00, a price-to-earnings-growth ratio of 29.46 and a beta of 1.88. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.66 and a quick ratio of 1.66.

BILL (NYSE:BILL) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.38). BILL had a return on equity of 1.53% and a net margin of 5.90%. Equities research analysts forecast that BILL Holdings, Inc. will post 0.12 EPS for the current year.

Wall Street Analyst Weigh In

BILL has been the topic of several recent analyst reports. Wells Fargo & Company reduced their target price on BILL from $65.00 to $57.00 and set an “underweight” rating on the stock in a research report on Friday, February 7th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $105.00 price objective on shares of BILL in a research report on Friday, February 7th. Morgan Stanley upgraded shares of BILL from an “equal weight” rating to an “overweight” rating and set a $95.00 price target on the stock in a research note on Thursday, January 16th. Oppenheimer lowered their price objective on shares of BILL from $110.00 to $90.00 and set an “outperform” rating for the company in a research note on Friday, February 7th. Finally, Piper Sandler reissued an “overweight” rating and issued a $85.00 target price on shares of BILL in a research report on Friday, February 7th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $75.44.

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.