Readystate Asset Management LP Lowers Stock Holdings in BILL Holdings, Inc. (NYSE:BILL)

Readystate Asset Management LP lowered its holdings in shares of BILL Holdings, Inc. (NYSE:BILL) by 33.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 58,300 shares of the company’s stock after selling 28,862 shares during the quarter. Readystate Asset Management LP owned approximately 0.06% of BILL worth $4,757,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of BILL. Quarry LP boosted its position in BILL by 173.4% during the first quarter. Quarry LP now owns 391 shares of the company’s stock worth $32,000 after purchasing an additional 248 shares in the last quarter. Quest Partners LLC acquired a new position in shares of BILL during the fourth quarter valued at approximately $35,000. Brown Brothers Harriman & Co. acquired a new position in shares of BILL during the first quarter valued at approximately $38,000. Coppell Advisory Solutions Corp. acquired a new position in shares of BILL during the fourth quarter valued at approximately $44,000. Finally, Coppell Advisory Solutions LLC acquired a new position in shares of BILL during the second quarter valued at approximately $52,000. Hedge funds and other institutional investors own 97.99% of the company’s stock.

Insider Transactions at BILL

In related news, SVP Germaine Cota sold 920 shares of the business’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $65.34, for a total transaction of $60,112.80. Following the completion of the transaction, the senior vice president now directly owns 5,093 shares of the company’s stock, valued at approximately $332,776.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 3.80% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on BILL shares. Needham & Company LLC reissued a “buy” rating and set a $100.00 target price on shares of BILL in a report on Friday, February 9th. JPMorgan Chase & Co. reduced their target price on BILL from $93.00 to $90.00 and set an “overweight” rating for the company in a report on Friday, February 9th. Citigroup increased their price target on BILL from $85.00 to $86.00 and gave the company a “buy” rating in a report on Monday, February 12th. Wells Fargo & Company reaffirmed an “underweight” rating and issued a $60.00 price target (down previously from $70.00) on shares of BILL in a report on Monday, April 1st. Finally, BNP Paribas raised BILL from an “underperform” rating to a “neutral” rating and set a $72.00 price target for the company in a report on Wednesday, March 13th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, BILL currently has a consensus rating of “Moderate Buy” and a consensus price target of $105.76.

BILL Trading Down 0.1 %

Shares of BILL traded down $0.07 during midday trading on Wednesday, hitting $62.43. 1,125,245 shares of the stock were exchanged, compared to its average volume of 2,211,225. BILL Holdings, Inc. has a 52-week low of $51.94 and a 52-week high of $139.50. The stock has a fifty day simple moving average of $64.99 and a 200 day simple moving average of $74.79. The firm has a market cap of $6.56 billion, a P/E ratio of -57.81, a P/E/G ratio of 82.01 and a beta of 1.66. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.69 and a current ratio of 1.69.

BILL (NYSE:BILL) last released its quarterly earnings results on Thursday, February 8th. The company reported $0.10 EPS for the quarter, topping the consensus estimate of ($0.16) by $0.26. BILL had a positive return on equity of 0.29% and a negative net margin of 9.67%. The business had revenue of $318.50 million during the quarter, compared to analyst estimates of $296.62 million. On average, research analysts anticipate that BILL Holdings, Inc. will post 0.03 EPS for the current fiscal year.

BILL Profile

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.