The Manufacturers Life Insurance Company Sells 6,252 Shares of BILL Holdings, Inc. (NYSE:BILL)

The Manufacturers Life Insurance Company lowered its holdings in shares of BILL Holdings, Inc. (NYSE:BILL) by 9.6% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 58,748 shares of the company’s stock after selling 6,252 shares during the period. The Manufacturers Life Insurance Company owned about 0.06% of BILL worth $3,091,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Coatue Management LLC acquired a new stake in BILL in the fourth quarter valued at approximately $163,218,000. Abdiel Capital Advisors LP boosted its holdings in shares of BILL by 46.4% during the 2nd quarter. Abdiel Capital Advisors LP now owns 3,454,823 shares of the company’s stock valued at $181,793,000 after acquiring an additional 1,095,396 shares in the last quarter. Kodai Capital Management LP bought a new stake in BILL during the 1st quarter worth $59,341,000. Contour Asset Management LLC acquired a new position in BILL in the 4th quarter worth about $49,509,000. Finally, Dimensional Fund Advisors LP raised its position in BILL by 70.7% in the second quarter. Dimensional Fund Advisors LP now owns 1,388,441 shares of the company’s stock valued at $73,049,000 after purchasing an additional 575,084 shares during the last quarter. 97.99% of the stock is currently owned by institutional investors.

BILL Stock Performance

NYSE:BILL opened at $53.90 on Wednesday. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.22. BILL Holdings, Inc. has a twelve month low of $43.11 and a twelve month high of $118.69. The company has a fifty day moving average of $51.16 and a 200-day moving average of $54.50. The firm has a market capitalization of $5.72 billion, a P/E ratio of -68.23 and a beta of 1.61.

BILL (NYSE:BILL) last posted its quarterly earnings results on Thursday, August 22nd. The company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.11. BILL had a negative net margin of 2.24% and a positive return on equity of 1.13%. The firm had revenue of $343.67 million during the quarter, compared to the consensus estimate of $328.27 million. During the same period in the previous year, the firm posted $0.10 earnings per share. The business’s revenue was up 16.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that BILL Holdings, Inc. will post -0.58 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Wolfe Research cut BILL from an “outperform” rating to a “peer perform” rating in a report on Thursday, August 1st. BMO Capital Markets reduced their target price on shares of BILL from $75.00 to $57.00 and set a “market perform” rating on the stock in a report on Monday, August 26th. Robert W. Baird dropped their price target on shares of BILL from $68.00 to $60.00 and set a “neutral” rating for the company in a research note on Friday, August 23rd. Needham & Company LLC reiterated a “buy” rating and set a $100.00 price target on shares of BILL in a report on Friday, August 23rd. Finally, Wells Fargo & Company decreased their price objective on BILL from $60.00 to $45.00 and set an “underweight” rating for the company in a report on Tuesday, August 20th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, BILL presently has an average rating of “Hold” and an average price target of $70.24.

Insiders Place Their Bets

In other news, CFO John R. Rettig bought 21,124 shares of the stock in a transaction dated Monday, August 26th. The shares were bought at an average cost of $49.40 per share, with a total value of $1,043,525.60. Following the completion of the transaction, the chief financial officer now directly owns 80,474 shares of the company’s stock, valued at $3,975,415.60. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other BILL news, CEO Rene A. Lacerte acquired 42,248 shares of BILL stock in a transaction dated Monday, August 26th. The stock was purchased at an average cost of $49.60 per share, for a total transaction of $2,095,500.80. Following the completion of the acquisition, the chief executive officer now directly owns 184,249 shares of the company’s stock, valued at $9,138,750.40. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO John R. Rettig bought 21,124 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was acquired at an average price of $49.40 per share, for a total transaction of $1,043,525.60. Following the acquisition, the chief financial officer now directly owns 80,474 shares in the company, valued at $3,975,415.60. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 68,372 shares of company stock worth $3,404,826. Corporate insiders own 3.80% 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.