BILL (NYSE:BILL) Shares Gap Down After Earnings Miss

BILL Holdings, Inc. (NYSE:BILL)’s share price gapped down before the market opened on Friday following a weaker than expected earnings announcement. The stock had previously closed at $96.35, but opened at $64.88. BILL shares last traded at $66.45, with a volume of 11,451,030 shares.

The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.38). BILL had a net margin of 0.59% and a return on equity of 1.54%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Robert W. Baird increased their price target on shares of BILL from $74.00 to $100.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Susquehanna lifted their price target on BILL from $91.00 to $100.00 and gave the stock a “positive” rating in a report on Tuesday, January 7th. Piper Sandler reaffirmed an “overweight” rating and issued a $85.00 price objective on shares of BILL in a report on Friday. Morgan Stanley raised BILL from an “equal weight” rating to an “overweight” rating and set a $95.00 target price for the company in a report on Thursday, January 16th. Finally, Keefe, Bruyette & Woods lowered their price target on shares of BILL from $100.00 to $95.00 and set a “market perform” rating on the stock in a research report on Monday, January 6th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $83.26.

Insider Activity at BILL

In related news, Director Alison Wagonfeld sold 779 shares of the business’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $90.00, for a total transaction of $70,110.00. Following the sale, the director now owns 259 shares in the company, valued at $23,310. The trade was a 75.05 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 4.20% of the stock is currently owned by insiders.

Institutional Trading of BILL

A number of hedge funds have recently made changes to their positions in the company. Handelsbanken Fonder AB grew its holdings in BILL by 27.8% during the 3rd quarter. Handelsbanken Fonder AB now owns 27,156 shares of the company’s stock worth $1,433,000 after acquiring an additional 5,900 shares during the last quarter. Private Advisory Group LLC bought a new position in BILL during the 3rd quarter worth $3,344,000. Washington Capital Management Inc. acquired a new position in BILL during the 3rd quarter worth about $274,000. Aaron Wealth Advisors LLC bought a new stake in shares of BILL in the 3rd quarter valued at about $220,000. Finally, Blue Trust Inc. increased its stake in shares of BILL by 1,167.5% in the third quarter. Blue Trust Inc. now owns 1,914 shares of the company’s stock valued at $101,000 after buying an additional 1,763 shares during the period. 97.99% of the stock is owned by institutional investors and hedge funds.

BILL Stock Performance

The company has a market capitalization of $6.94 billion, a price-to-earnings ratio of -203.10, a price-to-earnings-growth ratio of 164.86 and a beta of 1.76. The stock has a 50 day moving average of $89.50 and a 200 day moving average of $69.34. The company has a quick ratio of 1.53, a current ratio of 1.53 and a debt-to-equity ratio of 0.23.

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.