BILL (NYSE:BILL) Shares Gap Up – Should You Buy?

BILL Holdings, Inc. (NYSE:BILL) shares gapped up before the market opened on Thursday . The stock had previously closed at $83.69, but opened at $89.10. BILL shares last traded at $88.35, with a volume of 672,357 shares.

Analyst Ratings Changes

Several analysts have issued reports on the stock. KeyCorp raised shares of BILL from a “sector weight” rating to an “overweight” rating and set a $115.00 price target on the stock in a research report on Wednesday. The Goldman Sachs Group lifted their target price on BILL from $77.00 to $96.00 and gave the company a “neutral” rating in a research report on Monday, December 2nd. Keefe, Bruyette & Woods boosted their price objective on BILL from $75.00 to $100.00 and gave the stock a “market perform” rating in a research report on Monday, December 9th. Robert W. Baird lifted their target price on shares of BILL from $74.00 to $100.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Finally, Oppenheimer upped their price target on shares of BILL from $70.00 to $83.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, BILL presently has an average rating of “Hold” and a consensus target price of $83.79.

BILL Stock Up 5.1 %

The company’s 50-day simple moving average is $75.78 and its two-hundred day simple moving average is $59.84. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.53 and a quick ratio of 1.53. The firm has a market capitalization of $9.10 billion, a P/E ratio of -266.45 and a beta of 1.72.

Insiders Place Their Bets

In other news, SVP Germaine Cota sold 1,525 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $77.99, for a total value of $118,934.75. Following the sale, the senior vice president now directly owns 5,348 shares of the company’s stock, valued at $417,090.52. This represents a 22.19 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Alison Wagonfeld sold 519 shares of the company’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $57.50, for a total transaction of $29,842.50. Following the completion of 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 disclosure for this sale can be found here. Insiders sold a total of 2,823 shares of company stock valued at $218,887 over the last 90 days. Insiders own 4.20% of the company’s stock.

Institutional Trading of BILL

A number of large investors have recently modified their holdings of BILL. Brooklyn Investment Group acquired a new stake in BILL in the third quarter valued at $28,000. Advisors Asset Management Inc. lifted its stake 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. Venturi Wealth Management LLC boosted its holdings in 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 purchasing an additional 1,020 shares in the last quarter. Covestor Ltd lifted its position in shares of BILL by 15.1% during the 3rd quarter. Covestor Ltd now owns 1,897 shares of the company’s stock worth $100,000 after buying an additional 249 shares during the last quarter. Finally, Blue Trust Inc. grew its stake in BILL by 1,167.5% during the 3rd quarter. Blue Trust Inc. now owns 1,914 shares of the company’s stock worth $101,000 after buying an additional 1,763 shares during the last quarter. Hedge funds and other institutional investors own 97.99% of the company’s stock.

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.