272 Capital LP Reduces Position in BILL Holdings, Inc. (NYSE:BILL)

272 Capital LP reduced its position in BILL Holdings, Inc. (NYSE:BILL) by 65.6% during the third quarter, HoldingsChannel.com reports. The firm owned 18,566 shares of the company’s stock after selling 35,399 shares during the period. 272 Capital LP’s holdings in BILL were worth $980,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Twenty Acre Capital LP purchased a new stake in shares of BILL in the third quarter worth approximately $3,218,000. PDT Partners LLC grew its position in BILL by 63.3% in the 3rd quarter. PDT Partners LLC now owns 59,264 shares of the company’s stock valued at $3,127,000 after acquiring an additional 22,964 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in BILL in the third quarter worth $1,388,000. Bridgewater Associates LP lifted its position in shares of BILL by 504.0% during the third quarter. Bridgewater Associates LP now owns 127,721 shares of the company’s stock worth $6,739,000 after purchasing an additional 106,576 shares during the last quarter. Finally, Brooklyn Investment Group purchased a new stake in shares of BILL during the third quarter valued at $28,000. Institutional investors own 97.99% of the company’s stock.

BILL Stock Up 0.5 %

Shares of BILL stock opened at $90.22 on Friday. The stock’s fifty day moving average price is $66.13 and its 200 day moving average price is $56.63. BILL Holdings, Inc. has a 1-year low of $43.11 and a 1-year high of $94.28. The company has a market cap of $9.34 billion, a price-to-earnings ratio of -273.39 and a beta of 1.59. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.53 and a quick ratio of 1.53.

Insider Transactions at BILL

In other news, SVP Germaine Cota sold 1,525 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $77.99, for a total value of $118,934.75. Following the completion of the transaction, the senior vice president now directly owns 5,348 shares in the company, valued at $417,090.52. This trade represents a 22.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, 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 sale, the director now directly owns 1,038 shares of the company’s stock, valued at $59,685. This trade represents a 33.33 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,823 shares of company stock worth $218,887. Insiders own 4.20% of the company’s stock.

Wall Street Analyst Weigh In

BILL has been the subject of a number of research analyst reports. Evercore ISI decreased their price objective on shares of BILL from $70.00 to $60.00 and set an “in-line” rating for the company in a report on Friday, August 23rd. JPMorgan Chase & Co. dropped their price objective on BILL from $80.00 to $60.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 20th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $100.00 target price on shares of BILL in a research report on Friday, August 23rd. Mizuho lowered their target price on BILL from $60.00 to $52.00 and set a “neutral” rating for the company in a report on Wednesday, August 28th. Finally, Oppenheimer lifted their price objective on BILL from $70.00 to $83.00 and gave the company an “outperform” rating in a report on Friday, November 8th. One equities 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 company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $75.78.

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.