ARK Investment Management LLC Trims Holdings in BILL Holdings, Inc. (NYSE:BILL)

ARK Investment Management LLC reduced its holdings in shares of BILL Holdings, Inc. (NYSE:BILL) by 1.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 178,565 shares of the company’s stock after selling 2,754 shares during the quarter. ARK Investment Management LLC’s holdings in BILL were worth $15,126,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in BILL. Blue Trust Inc. boosted its stake in shares of BILL by 1,167.5% during the 3rd quarter. Blue Trust Inc. now owns 1,914 shares of the company’s stock valued at $101,000 after buying an additional 1,763 shares during the last quarter. DekaBank Deutsche Girozentrale purchased a new position in shares of BILL during the 3rd quarter valued at approximately $358,000. Iridian Asset Management LLC CT boosted its stake in shares of BILL by 26.9% during the 3rd quarter. Iridian Asset Management LLC CT now owns 294,668 shares of the company’s stock valued at $15,547,000 after buying an additional 62,499 shares during the last quarter. Chicago Partners Investment Group LLC boosted its stake in shares of BILL by 27.5% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 14,457 shares of the company’s stock valued at $800,000 after buying an additional 3,122 shares during the last quarter. Finally, WoodTrust Financial Corp purchased a new position in shares of BILL during the 3rd quarter valued at approximately $422,000. 97.99% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on BILL shares. Susquehanna increased their target price on BILL from $91.00 to $100.00 and gave the company a “positive” rating in a research note on Tuesday, January 7th. Piper Sandler restated an “overweight” rating and set a $85.00 price objective on shares of BILL in a research note on Friday, February 7th. Mizuho raised their price objective on BILL from $64.00 to $75.00 and gave the stock a “neutral” rating in a research note on Friday, December 13th. Morgan Stanley upgraded BILL from an “equal weight” rating to an “overweight” rating and set a $95.00 price objective on the stock in a research note on Thursday, January 16th. Finally, Keefe, Bruyette & Woods reduced their price objective on BILL from $95.00 to $77.00 and set a “market perform” rating on the stock in a research note on Friday, February 7th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, BILL currently has an average rating of “Moderate Buy” and a consensus price target of $81.72.

BILL Price Performance

Shares of NYSE BILL opened at $53.59 on Wednesday. The firm has a market capitalization of $5.46 billion, a PE ratio of -5,359.20, a P/E/G ratio of 29.46 and a beta of 1.76. 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 Holdings, Inc. has a 1-year low of $43.11 and a 1-year high of $100.19. The business’s fifty day moving average price is $81.21 and its two-hundred day moving average price is $70.49.

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