BILL Holdings, Inc. (NYSE:BILL) is Abdiel Capital Advisors LP's 2nd Largest Position

Abdiel Capital Advisors LP increased its holdings in shares of BILL Holdings, Inc. (NYSE:BILL - Free Report) by 48.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,121,139 shares of the company's stock after buying an additional 1,666,316 shares during the period. BILL comprises approximately 16.3% of Abdiel Capital Advisors LP's investment portfolio, making the stock its 2nd largest holding. Abdiel Capital Advisors LP owned approximately 4.95% of BILL worth $270,191,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Covestor Ltd raised its position in shares of BILL by 15.1% in the third quarter. Covestor Ltd now owns 1,897 shares of the company's stock valued at $100,000 after buying an additional 249 shares in the last quarter. DekaBank Deutsche Girozentrale grew its holdings in shares of BILL by 4.0% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 6,749 shares of the company's stock worth $449,000 after purchasing an additional 257 shares during the period. Advisors Asset Management Inc. raised its holdings in BILL by 30.8% during the third 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. Institute for Wealth Management LLC. raised its stake in BILL by 4.4% during the second quarter. Institute for Wealth Management LLC. now owns 7,670 shares of the company's stock valued at $404,000 after buying an additional 322 shares in the last quarter. Finally, Brooklyn Investment Group acquired a new position in BILL during the third quarter worth $28,000. Hedge funds and other institutional investors own 97.99% of the company's stock.

Insider Transactions at BILL

In other news, Director Alison Wagonfeld sold 779 shares of the business's stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $90.00, for a total transaction of $70,110.00. Following the transaction, the director now directly owns 259 shares in the company, valued at $23,310. The trade was a 75.05 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Germaine Cota sold 1,525 shares of the business's stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $77.99, for a total transaction of $118,934.75. Following the completion of the sale, the senior vice president now owns 5,348 shares of the company's stock, valued at approximately $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. In the last three months, insiders sold 2,823 shares of company stock valued at $218,887. Company insiders own 4.20% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on BILL shares. Keefe, Bruyette & Woods reduced their target price on BILL from $60.00 to $55.00 and set a "market perform" rating on the stock in a report on Friday, August 23rd. Robert W. Baird boosted their price objective on shares of BILL from $62.00 to $74.00 and gave the company a "neutral" rating in a research report on Friday, November 8th. Needham & Company LLC reaffirmed a "buy" rating and set a $100.00 price objective on shares of BILL in a research note on Friday, August 23rd. Evercore ISI decreased their target price on shares of BILL from $70.00 to $60.00 and set an "in-line" rating on the stock in a research note on Friday, August 23rd. Finally, Susquehanna reaffirmed a "positive" rating and issued a $100.00 target price on shares of BILL in a research report on Monday, August 19th. One analyst has rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $75.78.

BILL Stock Up 0.5 %

Shares of BILL stock traded up $0.45 during trading on Friday, reaching $90.22. The company's stock had a trading volume of 882,897 shares, compared to its average volume of 2,167,342. The company has a market cap of $9.34 billion, a price-to-earnings ratio of -273.39 and a beta of 1.59. The company has a quick ratio of 1.53, a current ratio of 1.53 and a debt-to-equity ratio of 0.23. BILL Holdings, Inc. has a 1-year low of $43.11 and a 1-year high of $94.28. The company has a 50-day simple moving average of $66.13 and a two-hundred day simple moving average of $56.63.

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.