BILL Holdings, Inc. (NYSE:BILL) Sees Significant Decrease in Short Interest

02 Nov 2024, 05:24 by Scott Moore · The Cerbat Gem

BILL Holdings, Inc. (NYSE:BILL – Get Free Report) was the target of a significant drop in short interest in the month of October. As of October 15th, there was short interest totalling 3,370,000 shares, a drop of 6.4% from the September 30th total of 3,600,000 shares. Based on an average daily volume of 1,760,000 shares, the days-to-cover ratio is presently 1.9 days.

BILL Stock Performance

Shares of NYSE:BILL opened at $58.29 on Friday. The stock has a market capitalization of $6.03 billion, a price-to-earnings ratio of -87.00 and a beta of 1.61. The business’s fifty day moving average price is $54.24 and its two-hundred day moving average price is $53.49. BILL has a fifty-two week low of $43.11 and a fifty-two week high of $93.16. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.55 and a quick ratio of 1.55.

BILL (NYSE:BILL – Get Free Report) last announced its quarterly earnings results on Thursday, August 22nd. The company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.11. The firm had revenue of $343.67 million during the quarter, compared to the consensus estimate of $328.27 million. BILL had a negative net margin of 2.24% and a positive return on equity of 1.13%. The firm’s quarterly revenue was up 16.1% on a year-over-year basis. During the same period last year, the firm posted $0.10 EPS. As a group, analysts predict that BILL will post -0.58 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

BILL has been the subject of several analyst reports. The Goldman Sachs Group lifted their price objective on shares of BILL from $54.00 to $60.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. Evercore ISI decreased their price target on BILL from $70.00 to $60.00 and set an “in-line” rating for the company in a research note on Friday, August 23rd. BMO Capital Markets cut their price objective on BILL from $75.00 to $57.00 and set a “market perform” rating on the stock in a research note on Monday, August 26th. Wells Fargo & Company decreased their target price on BILL from $60.00 to $45.00 and set an “underweight” rating for the company in a research report on Tuesday, August 20th. Finally, UBS Group dropped their price target on shares of BILL from $85.00 to $65.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $70.71.

Read Our Latest Analysis on BILL

Insider Buying and Selling

In related news, CEO Rene A. Lacerte bought 42,248 shares of the business’s stock in a transaction on Monday, August 26th. The stock was bought at an average price of $49.60 per share, for a total transaction of $2,095,500.80. Following the transaction, the chief executive officer now directly owns 184,249 shares in the company, valued at $9,138,750.40. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO John R. Rettig purchased 21,124 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was acquired at an average price of $49.40 per share, with a total value of $1,043,525.60. Following the purchase, the chief financial officer now owns 80,474 shares in the company, valued at $3,975,415.60. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Rene A. Lacerte acquired 42,248 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was purchased at an average price of $49.60 per share, for a total transaction of $2,095,500.80. Following the acquisition, the chief executive officer now directly owns 184,249 shares of the company’s stock, valued at $9,138,750.40. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 68,372 shares of company stock worth $3,404,826 and sold 3,808 shares worth $209,866. 3.80% of the stock is currently owned by corporate insiders.

Institutional Trading of BILL

Several hedge funds have recently modified their holdings of the stock. Principal Financial Group Inc. lifted its holdings in BILL by 32.7% during the 1st quarter. Principal Financial Group Inc. now owns 8,562 shares of the company’s stock worth $588,000 after buying an additional 2,109 shares in the last quarter. Commonwealth Equity Services LLC lifted its stake in shares of BILL by 79.1% during the first quarter. Commonwealth Equity Services LLC now owns 8,992 shares of the company’s stock valued at $618,000 after acquiring an additional 3,972 shares during the period. Diversify Advisory Services LLC bought a new position in BILL in the first quarter valued at about $3,207,000. Iridian Asset Management LLC CT increased its position in BILL by 146.6% in the first quarter. Iridian Asset Management LLC CT now owns 146,199 shares of the company’s stock worth $10,047,000 after purchasing an additional 86,913 shares during the period. Finally, FORA Capital LLC bought a new stake in BILL during the 1st quarter worth about $2,656,000. 97.99% of the stock is owned by institutional investors.

BILL Company Profile

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