IVY Lane Capital Management LLC Purchases New Shares in BILL Holdings, Inc. (NYSE:BILL)

IVY Lane Capital Management LLC bought a new stake in BILL Holdings, Inc. (NYSE:BILL - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 160,000 shares of the company's stock, valued at approximately $8,442,000. BILL makes up about 4.8% of IVY Lane Capital Management LLC's portfolio, making the stock its 10th largest holding. IVY Lane Capital Management LLC owned about 0.15% of BILL at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Advisors Asset Management Inc. lifted its holdings in BILL by 75.0% in the first quarter. Advisors Asset Management Inc. now owns 658 shares of the company's stock valued at $45,000 after acquiring an additional 282 shares during the period. Versant Capital Management Inc purchased a new stake in BILL during the second quarter worth about $46,000. Venturi Wealth Management LLC grew its position in BILL by 377.8% during the third quarter. Venturi Wealth Management LLC now owns 1,290 shares of the company's stock worth $68,000 after buying an additional 1,020 shares during the period. UniSuper Management Pty Ltd increased its holdings in BILL by 100.0% in the first quarter. UniSuper Management Pty Ltd now owns 1,400 shares of the company's stock valued at $96,000 after buying an additional 700 shares in the last quarter. Finally, Covestor Ltd lifted its position in shares of BILL by 1,742.7% during the 1st quarter. Covestor Ltd now owns 1,640 shares of the company's stock valued at $113,000 after acquiring an additional 1,551 shares during the period. 97.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BILL has been the subject of several research analyst reports. The Goldman Sachs Group raised their price objective on BILL from $60.00 to $77.00 and gave the company a "neutral" rating in a research note on Tuesday, November 12th. JPMorgan Chase & Co. reduced their target price on BILL from $80.00 to $60.00 and set an "overweight" rating on the stock in a research note on Tuesday, August 20th. Keefe, Bruyette & Woods lowered their price objective on shares of BILL from $60.00 to $55.00 and set a "market perform" rating for the company in a research note on Friday, August 23rd. Wolfe Research cut shares of BILL from an "outperform" rating to a "peer perform" rating in a research report on Thursday, August 1st. Finally, UBS Group dropped their price objective on BILL from $85.00 to $65.00 and set a "buy" rating on the stock in a report on Thursday, August 15th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, BILL presently has an average rating of "Hold" and an average price target of $74.65.

BILL Stock Performance

Shares of BILL traded down $0.05 during trading hours on Monday, reaching $84.64. 1,502,765 shares of the company's stock traded hands, compared to its average volume of 1,931,083. BILL Holdings, Inc. has a twelve month low of $43.11 and a twelve month high of $91.19. The business's fifty day simple moving average is $58.71 and its two-hundred day simple moving average is $54.40. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.53 and a quick ratio of 1.55. The firm has a market capitalization of $8.76 billion, a price-to-earnings ratio of -256.94 and a beta of 1.59.

BILL (NYSE:BILL - Get Free Report) last released its quarterly earnings results on Thursday, August 22nd. The company reported $0.57 EPS for the quarter, topping analysts' consensus estimates of $0.46 by $0.11. The company had revenue of $343.67 million for the quarter, compared to the consensus estimate of $328.27 million. BILL had a net margin of 0.59% and a return on equity of 1.54%. BILL's revenue was up 16.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.10 EPS. Analysts predict that BILL Holdings, Inc. will post -0.18 earnings per share for the current year.

Insiders Place Their Bets

In other BILL news, Director Alison Wagonfeld sold 519 shares of the company's stock in a transaction on Monday, October 21st. The stock was sold at an average price of $57.50, for a total value of $29,842.50. Following the transaction, the director now owns 1,038 shares of the company's stock, valued at approximately $59,685. This represents a 33.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO John R. Rettig acquired 21,124 shares of the firm's stock in a transaction on Monday, August 26th. The shares were acquired at an average price of $49.40 per share, with a total value of $1,043,525.60. Following the completion of the transaction, the chief financial officer now directly owns 80,474 shares in the company, valued at approximately $3,975,415.60. This trade represents a 35.59 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 68,372 shares of company stock worth $3,404,826 and have sold 6,112 shares worth $398,910. 4.20% of the stock is owned by company insiders.

BILL Company 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.