The Goldman Sachs Group Issues Positive Forecast for BILL (NYSE:BILL) Stock Price

BILL (NYSE:BILL) had its price objective increased by The Goldman Sachs Group from $77.00 to $96.00 in a research report released on Monday morning,Benzinga reports. They currently have a neutral rating on the stock.

A number of other brokerages have also issued reports on BILL. Oppenheimer increased their price target on BILL from $70.00 to $83.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Susquehanna reaffirmed a “positive” rating and set a $100.00 target price on shares of BILL in a report on Monday, August 19th. BNP Paribas raised BILL from a “neutral” rating to an “outperform” rating and set a $90.00 price target on the stock in a report on Thursday, September 12th. Evercore ISI reduced their price objective on BILL from $70.00 to $60.00 and set an “in-line” rating for the company in a research note on Friday, August 23rd. Finally, Morgan Stanley increased their price target on BILL from $58.00 to $95.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 26th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $76.83.

BILL Stock Down 0.8 %

BILL stock opened at $89.51 on Monday. BILL has a 52 week low of $43.11 and a 52 week high of $94.28. The stock has a market cap of $9.26 billion, a price-to-earnings ratio of -271.27 and a beta of 1.59. The company’s 50-day moving average price is $66.13 and its two-hundred day moving average price is $56.61. The company has a current ratio of 1.53, a quick ratio of 1.53 and a debt-to-equity ratio of 0.23.

Insiders Place Their Bets

In other BILL news, Director Alison Wagonfeld sold 519 shares of the business’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $57.50, for a total value of $29,842.50. Following the completion of the transaction, the director now directly owns 1,038 shares of the company’s stock, valued at approximately $59,685. The trade was a 33.33 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, 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 value of $118,934.75. Following the sale, the senior vice president now owns 5,348 shares of the company’s stock, valued at approximately $417,090.52. The trade was a 22.19 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,823 shares of company stock worth $218,887 over the last three months. 4.20% of the stock is currently owned by corporate insiders.

Institutional Trading of BILL

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Abdiel Capital Advisors LP raised its position in shares of BILL by 48.2% in the 3rd quarter. Abdiel Capital Advisors LP now owns 5,121,139 shares of the company’s stock valued at $270,191,000 after acquiring an additional 1,666,316 shares during the period. Dimensional Fund Advisors LP increased its position in shares of BILL by 70.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,388,441 shares of the company’s stock valued at $73,049,000 after buying an additional 575,084 shares in the last quarter. Two Sigma Advisers LP raised its stake in BILL by 87.0% during the 3rd quarter. Two Sigma Advisers LP now owns 690,800 shares of the company’s stock worth $36,447,000 after buying an additional 321,400 shares during the period. Assenagon Asset Management S.A. lifted its holdings in BILL by 297.7% during the third quarter. Assenagon Asset Management S.A. now owns 380,640 shares of the company’s stock worth $20,083,000 after acquiring an additional 284,935 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in BILL by 45.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 895,833 shares of the company’s stock valued at $47,264,000 after acquiring an additional 279,256 shares during the period. 97.99% of the stock is owned by institutional investors.

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.