BILL (NYSE:BILL) Shares Gap Up on Analyst Upgrade

BILL Holdings, Inc. (NYSE:BILL - Get Free Report)'s stock price gapped up before the market opened on Thursday after Wells Fargo & Company raised their price target on the stock from $55.00 to $65.00. The stock had previously closed at $87.09, but opened at $90.50. Wells Fargo & Company currently has an underweight rating on the stock. BILL shares last traded at $88.85, with a volume of 289,583 shares.

A number of other research firms have also recently commented on BILL. Susquehanna increased their price target on shares of BILL from $91.00 to $100.00 and gave the company a "positive" rating in a report on Tuesday, January 7th. Piper Sandler increased their target price on BILL from $60.00 to $85.00 and gave the company an "overweight" rating in a research note on Friday, November 8th. The Goldman Sachs Group upgraded BILL from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $96.00 to $104.00 in a research note on Thursday, January 9th. Robert W. Baird increased their price objective on BILL from $74.00 to $100.00 and gave the company a "neutral" rating in a research report on Tuesday, December 3rd. Finally, Keefe, Bruyette & Woods decreased their target price on BILL from $100.00 to $95.00 and set a "market perform" rating for the company in a research report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $85.00.

Insider Activity at BILL

In related news, Director Alison Wagonfeld sold 519 shares of the business's stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $57.50, for a total value of $29,842.50. Following the sale, the director now directly owns 1,038 shares in the company, valued at approximately $59,685. The trade was 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, SVP Germaine Cota sold 1,525 shares of the business's stock in a transaction 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 in the company, valued at $417,090.52. This represents a 22.19 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,823 shares of company stock valued at $218,887. 4.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On BILL

Several large investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC boosted its holdings in shares of BILL by 74.9% in the 4th quarter. GAMMA Investing LLC now owns 306 shares of the company's stock worth $26,000 after purchasing an additional 131 shares during the period. UMB Bank n.a. bought a new stake in BILL in the fourth quarter worth $35,000. Brooklyn Investment Group purchased a new position in BILL during the third quarter worth $28,000. Advisors Asset Management Inc. increased its position in BILL by 30.8% during the third quarter. Advisors Asset Management Inc. now owns 1,101 shares of the company's stock valued at $58,000 after acquiring an additional 259 shares during the last quarter. Finally, Venturi Wealth Management LLC raised its stake in shares of BILL by 377.8% in the third quarter. Venturi Wealth Management LLC now owns 1,290 shares of the company's stock valued at $68,000 after acquiring an additional 1,020 shares during the period. 97.99% of the stock is owned by institutional investors.

BILL Stock Up 1.3 %

The company's fifty day moving average price is $87.24 and its 200-day moving average price is $64.89. The stock has a market cap of $9.13 billion, a P/E ratio of -267.25, a price-to-earnings-growth ratio of 83.30 and a beta of 1.72. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.53 and a current ratio of 1.53.

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.