First Trust Advisors LP Reduces Stock Holdings in Bill.com Holdings, Inc. (NYSE:BILL)

First Trust Advisors LP trimmed its holdings in shares of Bill.com Holdings, Inc. (NYSE:BILL) by 0.2% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 82,427 shares of the company’s stock after selling 158 shares during the period. First Trust Advisors LP’s holdings in Bill.com were worth $7,436,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in BILL. Victory Capital Management Inc. purchased a new position in Bill.com during the 4th quarter worth $42,000. Raymond James & Associates purchased a new stake in Bill.com during the 4th quarter valued at about $314,000. UBS Group AG purchased a new stake in Bill.com during the 4th quarter valued at about $39,000. Cubist Systematic Strategies LLC purchased a new stake in Bill.com during the 4th quarter valued at about $201,000. Finally, Janus Henderson Group PLC purchased a new stake in Bill.com during the 4th quarter valued at about $216,000. Hedge funds and other institutional investors own 54.97% of the company’s stock.

In related news, General Counsel Rajesh A. Aji sold 6,000 shares of the company’s stock in a transaction dated Tuesday, July 21st. The stock was sold at an average price of $86.38, for a total value of $518,280.00. Following the completion of the transaction, the general counsel now owns 46,767 shares of the company’s stock, valued at approximately $4,039,733.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Bora Chung sold 12,000 shares of the company’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $76.98, for a total value of $923,760.00. Following the completion of the transaction, the senior vice president now directly owns 12,000 shares of the company’s stock, valued at approximately $923,760. The disclosure for this sale can be found here. Insiders sold a total of 3,910,176 shares of company stock valued at $257,680,644 in the last ninety days.

Several research firms have weighed in on BILL. KeyCorp boosted their price target on Bill.com from $85.00 to $90.00 and gave the company an “overweight” rating in a research note on Wednesday, July 15th. Jefferies Financial Group boosted their price target on Bill.com from $45.00 to $70.00 and gave the company a “hold” rating in a research note on Friday, May 8th. They noted that the move was a valuation call. Goldman Sachs Group boosted their price target on Bill.com from $60.00 to $90.00 in a research note on Monday, June 29th. Piper Sandler upgraded Bill.com from a “neutral” rating to an “overweight” rating and set a $85.00 price target on the stock in a research note on Thursday, May 28th. Finally, Oppenheimer began coverage on Bill.com in a research note on Wednesday. They set an “outperform” rating and a $103.00 price target on the stock. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $77.55.

Shares of BILL stock opened at $93.11 on Friday. The business has a 50-day simple moving average of $84.65 and a 200-day simple moving average of $61.29. Bill.com Holdings, Inc. has a 52-week low of $23.61 and a 52-week high of $97.84.

Bill.com (NYSE:BILL) last released its quarterly earnings results on Thursday, May 7th. The company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.06. The company had revenue of $41.23 million during the quarter, compared to analysts’ expectations of $37.02 million. Bill.com had a negative return on equity of 17.32% and a negative net margin of 17.73%. The business’s revenue was up 46.0% compared to the same quarter last year. As a group, equities research analysts expect that Bill.com Holdings, Inc. will post -0.51 earnings per share for the current fiscal year.

About Bill.com

Bill.com Holdings, Inc provides cloud-based software that digitizes and automates back-office financial operations for small and midsize businesses worldwide. It offers artificial-intelligence (AI)-enabled financial software platform. The company provides software-as-a-service, cloud-based payments 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, manage cash flows, and enhance office efficiency.

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Institutional Ownership by Quarter for Bill.com (NYSE:BILL)

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