Westpac Banking Corp raised its holdings in shares of BILL Holdings, Inc. (NYSE:BILL – Free Report) by 62.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,361 shares of the company’s stock after buying an additional 3,975 shares during the period. Westpac Banking Corp’s holdings in BILL were worth $841,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Triatomic Management LP purchased a new stake in shares of BILL in the first quarter valued at approximately $527,000. Nikko Asset Management Americas Inc. boosted its holdings in shares of BILL by 192.3% in the first quarter. Nikko Asset Management Americas Inc. now owns 475,987 shares of the company’s stock valued at $37,651,000 after purchasing an additional 313,168 shares during the period. Rheos Capital Works Inc. boosted its holdings in shares of BILL by 44.1% in the first quarter. Rheos Capital Works Inc. now owns 261,500 shares of the company’s stock valued at $21,218,000 after purchasing an additional 80,000 shares during the period. Valmark Advisers Inc. boosted its holdings in shares of BILL by 56.2% in the first quarter. Valmark Advisers Inc. now owns 4,212 shares of the company’s stock valued at $342,000 after purchasing an additional 1,516 shares during the period. Finally, abrdn plc boosted its holdings in shares of BILL by 84.4% in the first quarter. abrdn plc now owns 18,003 shares of the company’s stock valued at $1,461,000 after purchasing an additional 8,242 shares during the period. Hedge funds and other institutional investors own 98.03% of the company’s stock.
BILL Price Performance
NYSE BILL opened at $117.52 on Thursday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.92 and a quick ratio of 1.92. The stock’s fifty day moving average price is $116.07 and its 200 day moving average price is $98.12. BILL Holdings, Inc. has a 1 year low of $68.30 and a 1 year high of $179.85. The company has a market cap of $12.50 billion, a price-to-earnings ratio of -42.27 and a beta of 1.93.
Insiders Place Their Bets
In other BILL news, Director Brian Jacobs sold 2,000 shares of the stock in a transaction dated Tuesday, May 9th. The stock was sold at an average price of $98.70, for a total transaction of $197,400.00. Following the sale, the director now directly owns 2,826 shares of the company’s stock, valued at approximately $278,926.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other BILL news, Director Brian Jacobs sold 2,000 shares of the stock in a transaction dated Tuesday, May 9th. The stock was sold at an average price of $98.70, for a total transaction of $197,400.00. Following the sale, the director now directly owns 2,826 shares of the company’s stock, valued at approximately $278,926.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Rene A. Lacerte sold 9,102 shares of the stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $99.07, for a total value of $901,735.14. Following the sale, the chief executive officer now directly owns 104,551 shares in the company, valued at $10,357,867.57. The disclosure for this sale can be found here. In the last three months, insiders have sold 67,180 shares of company stock valued at $7,285,709. Company insiders own 5.00% of the company’s stock.
Analyst Ratings Changes
A number of analysts have weighed in on the company. BMO Capital Markets upped their target price on BILL from $90.00 to $98.00 in a report on Monday, May 8th. Morgan Stanley lowered BILL from an “overweight” rating to an “equal weight” rating and set a $105.00 target price for the company. in a report on Monday, June 12th. Wolfe Research upped their target price on BILL from $100.00 to $110.00 in a report on Friday, May 5th. Robert W. Baird upped their target price on BILL from $96.00 to $140.00 in a report on Wednesday, July 26th. Finally, UBS Group upped their target price on BILL from $95.00 to $104.00 in a report on Friday, May 5th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $132.33.
Check Out Our Latest Stock Analysis on BILL
About BILL
BILL Holdings, Inc provides cloud-based software that simplifies, digitizes, and automates back-office financial operations 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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