Abdiel Capital Advisors LP Boosts Position in BILL Holdings, Inc. (NYSE:BILL)

Abdiel Capital Advisors LP lifted its stake in shares of BILL Holdings, Inc. (NYSE:BILLFree Report) by 16.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,711,392 shares of the company’s stock after purchasing an additional 243,788 shares during the quarter. BILL comprises about 7.3% of Abdiel Capital Advisors LP’s investment portfolio, making the stock its 6th largest holding. Abdiel Capital Advisors LP owned 1.63% of BILL worth $139,632,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Prudential PLC raised its position in BILL by 81.6% in the fourth quarter. Prudential PLC now owns 5,541 shares of the company’s stock worth $452,000 after acquiring an additional 2,490 shares in the last quarter. Hel Ved Capital Management Ltd bought a new stake in BILL in the fourth quarter worth about $687,000. Tairen Capital Ltd bought a new stake in BILL in the fourth quarter worth about $2,025,000. Armistice Capital LLC purchased a new position in BILL in the 4th quarter worth about $9,311,000. Finally, Royal London Asset Management Ltd. increased its stake in BILL by 4.2% in the 4th quarter. Royal London Asset Management Ltd. now owns 39,827 shares of the company’s stock worth $3,249,000 after purchasing an additional 1,618 shares in the last quarter. 97.99% of the stock is currently owned by institutional investors.

BILL Trading Down 0.2 %

BILL traded down $0.11 on Tuesday, hitting $51.94. The company had a trading volume of 432,359 shares, compared to its average volume of 2,109,791. The company’s fifty day moving average price is $58.26 and its 200 day moving average price is $66.66. BILL Holdings, Inc. has a 1-year low of $49.06 and a 1-year high of $139.50. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 0.28.

BILL (NYSE:BILLGet Free Report) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.17. BILL had a positive return on equity of 0.98% and a negative net margin of 4.21%. The company had revenue of $323.03 million during the quarter, compared to analyst estimates of $305.23 million. Equities analysts anticipate that BILL Holdings, Inc. will post -0.16 earnings per share for the current year.

Insider Transactions at BILL

In other news, insider Rajesh A. Aji sold 2,616 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $51.60, for a total transaction of $134,985.60. Following the completion of the transaction, the insider now directly owns 9,126 shares in the company, valued at $470,901.60. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, insider Rajesh A. Aji sold 2,616 shares of the stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $51.60, for a total transaction of $134,985.60. Following the sale, the insider now owns 9,126 shares in the company, valued at $470,901.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Germaine Cota sold 642 shares of the stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $51.59, for a total value of $33,120.78. Following the sale, the senior vice president now owns 6,057 shares in the company, valued at approximately $312,480.63. The disclosure for this sale can be found here. Corporate insiders own 3.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on BILL shares. Mizuho dropped their price target on BILL from $65.00 to $60.00 and set a “neutral” rating on the stock in a research note on Monday, May 6th. Robert W. Baird dropped their price target on BILL from $74.00 to $60.00 and set a “neutral” rating on the stock in a research note on Friday, May 31st. Canaccord Genuity Group reissued a “buy” rating and issued a $100.00 price target on shares of BILL in a research note on Friday, May 3rd. BMO Capital Markets lowered their target price on BILL from $82.00 to $75.00 and set a “market perform” rating on the stock in a research note on Friday, May 3rd. Finally, Jefferies Financial Group lowered their target price on BILL from $95.00 to $80.00 and set a “buy” rating on the stock in a research note on Monday, April 29th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $96.65.

View Our Latest Report on BILL

BILL Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for BILL (NYSE:BILL)

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