Pier Capital LLC Takes Position in BILL Holdings, Inc. (NYSE:BILL)

Pier Capital LLC acquired a new position in BILL Holdings, Inc. (NYSE:BILL) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 102,353 shares of the company’s stock, valued at approximately $5,400,000.

A number of other institutional investors also recently bought and sold shares of the stock. Abdiel Capital Advisors LP lifted its holdings in BILL by 48.2% during the third quarter. Abdiel Capital Advisors LP now owns 5,121,139 shares of the company’s stock valued at $270,191,000 after purchasing an additional 1,666,316 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of BILL by 70.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,388,441 shares of the company’s stock valued at $73,049,000 after purchasing an additional 575,084 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of BILL by 45.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 895,833 shares of the company’s stock valued at $47,264,000 after buying an additional 279,256 shares in the last quarter. Two Sigma Advisers LP boosted its holdings in BILL by 87.0% in the 3rd quarter. Two Sigma Advisers LP now owns 690,800 shares of the company’s stock worth $36,447,000 after buying an additional 321,400 shares during the period. Finally, Marshall Wace LLP boosted its holdings in BILL by 13.9% in the 2nd quarter. Marshall Wace LLP now owns 635,937 shares of the company’s stock worth $33,463,000 after buying an additional 77,508 shares during the period. 97.99% of the stock is owned by institutional investors.

Insider Buying and Selling at BILL

In other news, Director Alison Wagonfeld sold 519 shares of the firm’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $57.50, for a total value of $29,842.50. Following the completion of the sale, the director now owns 1,038 shares in the company, valued at approximately $59,685. This trade represents a 33.33 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Germaine Cota sold 1,525 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $77.99, for a total transaction of $118,934.75. Following the transaction, the senior vice president now owns 5,348 shares in the company, valued at $417,090.52. The trade was a 22.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,823 shares of company stock worth $218,887 over the last ninety days. Company insiders own 4.20% of the company’s stock.

BILL Stock Up 2.0 %

Shares of NYSE BILL opened at $97.41 on Friday. The stock has a market capitalization of $10.08 billion, a price-to-earnings ratio of -295.18 and a beta of 1.72. BILL Holdings, Inc. has a 12-month low of $43.11 and a 12-month high of $97.86. 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 firm’s 50-day moving average price is $70.12 and its 200-day moving average price is $57.81.

Analysts Set New Price Targets

A number of research firms have commented on BILL. Needham & Company LLC reissued a “buy” rating and set a $100.00 price target on shares of BILL in a report on Friday, August 23rd. Wells Fargo & Company decreased their target price on BILL from $60.00 to $45.00 and set an “underweight” rating on the stock in a research note on Tuesday, August 20th. UBS Group dropped their price target on BILL from $85.00 to $65.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. Robert W. Baird lifted their price objective on shares of BILL from $74.00 to $100.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Finally, Oppenheimer upped their target price on shares of BILL from $70.00 to $83.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $78.28.

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.