Coatue Management LLC Acquires New Position in BILL Holdings, Inc. (NYSE:BILL)

Coatue Management LLC acquired a new position in shares of BILL Holdings, Inc. (NYSE:BILL - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,000,466 shares of the company's stock, valued at approximately $163,218,000. Coatue Management LLC owned approximately 1.90% of BILL as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the company. Quest Partners LLC purchased a new position in BILL in the 4th quarter worth $35,000. Garner Asset Management Corp purchased a new stake in shares of BILL in the 4th quarter worth about $90,000. Sands Capital Management LLC bought a new stake in BILL during the 3rd quarter valued at approximately $136,000. Principal Securities Inc. bought a new position in BILL in the fourth quarter worth $138,000. Finally, EMC Capital Management bought a new stake in shares of BILL in the 4th quarter worth approximately $163,000. Institutional investors own 97.99% of the company's stock.

Insiders Place Their Bets

In other BILL news, insider Rajesh A. Aji sold 2,616 shares of the company's stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $51.60, for a total transaction of $134,985.60. Following the completion of the sale, the insider now directly owns 9,126 shares of the company's stock, valued at $470,901.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other BILL news, insider Rajesh A. Aji sold 2,616 shares of the firm's stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $51.60, for a total value of $134,985.60. Following the sale, the insider now owns 9,126 shares of the company's stock, valued at approximately $470,901.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Germaine Cota sold 642 shares of BILL stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $51.59, for a total transaction of $33,120.78. Following the completion of the transaction, the senior vice president now owns 6,057 shares of the company's stock, valued at approximately $312,480.63. The disclosure for this sale can be found here. 3.80% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. BNP Paribas upgraded shares of BILL from an "underperform" rating to a "neutral" rating and set a $72.00 target price on the stock in a report on Wednesday, March 13th. Robert W. Baird decreased their price objective on shares of BILL from $74.00 to $60.00 and set a "neutral" rating on the stock in a research report on Friday, May 31st. William Blair restated a "market perform" rating on shares of BILL in a research report on Friday, May 3rd. BMO Capital Markets cut their target price on shares of BILL from $82.00 to $75.00 and set a "market perform" rating for the company in a research note on Friday, May 3rd. Finally, Piper Sandler lowered their price objective on shares of BILL from $95.00 to $77.00 and set an "overweight" rating for the company in a research report on Friday, April 12th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $96.65.

BILL Trading Down 1.2 %

Shares of BILL stock traded down $0.60 on Wednesday, reaching $51.17. 1,346,577 shares of the stock were exchanged, compared to its average volume of 2,108,430. BILL Holdings, Inc. has a 1-year low of $49.06 and a 1-year high of $139.50. The stock has a market cap of $5.43 billion, a P/E ratio of -64.77 and a beta of 1.61. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 0.28. The firm has a 50 day moving average of $57.79 and a two-hundred day moving average of $66.47.

BILL (NYSE:BILL - Get Free Report) last released its quarterly earnings data on Thursday, May 2nd. The company reported $0.14 EPS for the quarter, topping analysts' consensus estimates of ($0.03) by $0.17. BILL had a positive return on equity of 0.98% and a negative net margin of 4.21%. The company had revenue of $323.03 million for the quarter, compared to the consensus estimate of $305.23 million. On average, research analysts anticipate that BILL Holdings, Inc. will post -0.16 EPS for the current year.

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.

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