BILL Holdings, Inc. (NYSE:BILL) Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lessened its stake in BILL Holdings, Inc. (NYSE:BILL) by 1.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 266,765 shares of the company’s stock after selling 3,950 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.26% of BILL worth $12,242,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of BILL. Coppell Advisory Solutions LLC raised its holdings in BILL by 202.5% in the 4th quarter. Coppell Advisory Solutions LLC now owns 369 shares of the company’s stock worth $32,000 after purchasing an additional 247 shares during the period. CoreCap Advisors LLC acquired a new position in BILL in the 4th quarter worth about $30,000. Arizona State Retirement System raised its holdings in BILL by 1.3% in the 4th quarter. Arizona State Retirement System now owns 29,414 shares of the company’s stock worth $2,492,000 after purchasing an additional 380 shares during the period. GeoWealth Management LLC acquired a new position in BILL in the 4th quarter worth about $32,000. Finally, AXA S.A. raised its holdings in BILL by 0.5% in the 4th quarter. AXA S.A. now owns 81,690 shares of the company’s stock worth $6,920,000 after purchasing an additional 429 shares during the period. Institutional investors and hedge funds own 97.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Piper Sandler reduced their price target on BILL from $85.00 to $70.00 and set an “overweight” rating for the company in a report on Thursday, April 10th. The Goldman Sachs Group cut their price objective on BILL from $90.00 to $60.00 and set a “buy” rating for the company in a research note on Wednesday, April 2nd. Oppenheimer boosted their price objective on BILL from $50.00 to $55.00 and gave the stock an “outperform” rating in a research note on Friday, May 9th. UBS Group upped their price target on BILL from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Friday, May 9th. Finally, Morgan Stanley lowered BILL from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $60.00 to $55.00 in a research report on Wednesday, June 11th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, BILL has a consensus rating of “Moderate Buy” and an average price target of $62.75.

BILL Stock Up 3.3%

NYSE:BILL opened at $48.11 on Friday. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 0.43. The stock’s fifty day moving average is $45.13 and its two-hundred day moving average is $57.94. BILL Holdings, Inc. has a 52 week low of $36.55 and a 52 week high of $100.19. The stock has a market capitalization of $4.96 billion, a price-to-earnings ratio of -400.88, a price-to-earnings-growth ratio of 9.91 and a beta of 1.35.

BILL (NYSE:BILL) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.13. The business had revenue of $358.22 million for the quarter, compared to analysts’ expectations of $355.85 million. BILL had a return on equity of 1.21% and a net margin of 2.70%. The company’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same period last year, the firm earned $0.60 earnings per share. Research analysts anticipate that BILL Holdings, Inc. will post 0.12 EPS for the current year.

Insider Buying and Selling at BILL

In other news, insider Rajesh A. Aji sold 1,780 shares of the stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $45.25, for a total value of $80,545.00. Following the sale, the insider directly owned 9,298 shares in the company, valued at approximately $420,734.50. This trade represents a 16.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Germaine Cota sold 1,718 shares of the stock in a transaction on Friday, May 30th. The shares were sold at an average price of $42.55, for a total value of $73,100.90. Following the completion of the sale, the senior vice president owned 9,512 shares in the company, valued at approximately $404,735.60. The trade was a 15.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.20% of the stock is currently owned by company insiders.

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.