BILL (NYSE:BILL) Shares Gap Down After Earnings Miss

BILL Holdings, Inc. (NYSE:BILL)’s share price gapped down prior to trading on Friday following a dissappointing earnings announcement. The stock had previously closed at $96.35, but opened at $64.88. BILL shares last traded at $66.45, with a volume of 11,451,030 shares traded.

The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.38). BILL had a net margin of 0.59% and a return on equity of 1.54%.

Analysts Set New Price Targets

Several research firms have issued reports on BILL. Robert W. Baird increased their price objective on BILL from $74.00 to $100.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. KeyCorp decreased their price target on BILL from $115.00 to $85.00 and set an “overweight” rating on the stock in a report on Friday. Morgan Stanley raised BILL from an “equal weight” rating to an “overweight” rating and set a $95.00 price objective for the company in a report on Thursday, January 16th. Needham & Company LLC reaffirmed a “buy” rating and issued a $100.00 target price on shares of BILL in a research note on Friday. Finally, The Goldman Sachs Group raised shares of BILL from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $96.00 to $104.00 in a research note on Thursday, January 9th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $83.26.

Insider Buying and Selling at BILL

In other news, Director Alison Wagonfeld sold 779 shares of the business’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $90.00, for a total value of $70,110.00. Following the sale, the director now directly owns 259 shares in the company, valued at $23,310. The trade was a 75.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 4.20% of the company’s stock.

Institutional Investors Weigh In On BILL

Hedge funds and other institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC boosted its stake in shares of BILL by 74.9% during the 4th quarter. GAMMA Investing LLC now owns 306 shares of the company’s stock worth $26,000 after buying an additional 131 shares during the last quarter. Crewe Advisors LLC boosted its position in BILL by 129.1% during the fourth quarter. Crewe Advisors LLC now owns 307 shares of the company’s stock valued at $26,000 after purchasing an additional 173 shares during the last quarter. Empowered Funds LLC grew its stake in BILL by 4.0% in the fourth quarter. Empowered Funds LLC now owns 5,324 shares of the company’s stock valued at $451,000 after purchasing an additional 207 shares in the last quarter. Covestor Ltd increased its position in shares of BILL by 15.1% during the 3rd quarter. Covestor Ltd now owns 1,897 shares of the company’s stock worth $100,000 after purchasing an additional 249 shares during the last quarter. Finally, Advisors Asset Management Inc. increased its position in shares of BILL by 30.8% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,101 shares of the company’s stock worth $58,000 after purchasing an additional 259 shares during the last quarter. Institutional investors and hedge funds own 97.99% of the company’s stock.

BILL Trading Down 30.4 %

The company has a current ratio of 1.53, a quick ratio of 1.53 and a debt-to-equity ratio of 0.23. The business has a 50 day moving average price of $89.50 and a 200-day moving average price of $69.34. The company has a market cap of $6.94 billion, a P/E ratio of -203.10, a PEG ratio of 164.86 and a beta of 1.76.

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.