Plato Investment Management Ltd Sells 4,851 Shares of BILL Holdings, Inc. (NYSE:BILL)

Plato Investment Management Ltd trimmed its stake in shares of BILL Holdings, Inc. (NYSE:BILL) by 90.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 488 shares of the company’s stock after selling 4,851 shares during the quarter. Plato Investment Management Ltd’s holdings in BILL were worth $26,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Aigen Investment Management LP increased its holdings in BILL by 612.3% during the 3rd quarter. Aigen Investment Management LP now owns 55,561 shares of the company’s stock valued at $2,931,000 after purchasing an additional 47,761 shares during the period. Vanguard Group Inc. boosted its holdings in BILL by 1.0% in the first quarter. Vanguard Group Inc. now owns 9,976,318 shares of the company’s stock valued at $685,573,000 after acquiring an additional 94,786 shares in the last quarter. WoodTrust Financial Corp purchased a new position in BILL during the 3rd quarter valued at $422,000. WCM Investment Management LLC increased its position in shares of BILL by 26.4% during the third quarter. WCM Investment Management LLC now owns 294,229 shares of the company’s stock valued at $15,647,000 after buying an additional 61,471 shares during the period. Finally, Algert Global LLC lifted its holdings in BILL by 602.3% in the second quarter. Algert Global LLC now owns 61,518 shares of the company’s stock worth $3,237,000 after buying an additional 52,758 shares during the period. Institutional investors own 97.99% of the company’s stock.

Insider Buying and Selling at BILL

In other news, Director Alison Wagonfeld sold 779 shares of the firm’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $90.00, for a total transaction of $70,110.00. Following the sale, the director now directly owns 259 shares in the company, valued at $23,310. This trade represents a 75.05 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Rene A. Lacerte bought 42,248 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was purchased at an average cost of $49.60 per share, with a total value of $2,095,500.80. Following the acquisition, the chief executive officer now directly owns 184,249 shares in the company, valued at $9,138,750.40. This trade represents a 29.75 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 68,372 shares of company stock valued at $3,404,826 and sold 6,112 shares valued at $398,910. 4.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. JPMorgan Chase & Co. reduced their target price on BILL from $80.00 to $60.00 and set an “overweight” rating on the stock in a report on Tuesday, August 20th. Piper Sandler upped their target price on shares of BILL from $60.00 to $85.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Wells Fargo & Company lowered their price target on shares of BILL from $60.00 to $45.00 and set an “underweight” rating for the company in a research report on Tuesday, August 20th. Robert W. Baird boosted their price target on BILL from $62.00 to $74.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Finally, Mizuho lowered their price objective on BILL from $60.00 to $52.00 and set a “neutral” rating for the company in a research note on Wednesday, August 28th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $74.65.

BILL Stock Performance

Shares of NYSE BILL opened at $84.69 on Friday. The company has a quick ratio of 1.55, a current ratio of 1.53 and a debt-to-equity ratio of 0.23. The firm’s 50-day moving average price is $58.11 and its 200-day moving average price is $54.36. BILL Holdings, Inc. has a 52-week low of $43.11 and a 52-week high of $91.19. The company has a market cap of $8.77 billion, a PE ratio of -256.64 and a beta of 1.59.

BILL (NYSE:BILL) last issued its quarterly earnings data on Thursday, August 22nd. The company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.46 by $0.11. BILL had a return on equity of 1.54% and a net margin of 0.59%. The company had revenue of $343.67 million during the quarter, compared to analyst estimates of $328.27 million. During the same quarter in the previous year, the company posted $0.10 earnings per share. BILL’s revenue was up 16.1% compared to the same quarter last year. As a group, analysts anticipate that BILL Holdings, Inc. will post -0.57 EPS for the current year.

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.