Empowered Funds LLC Acquires New Holdings in BILL Holdings, Inc. (NYSE:BILL)

Empowered Funds LLC bought a new position in shares of BILL Holdings, Inc. (NYSE:BILL) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund bought 5,117 shares of the company’s stock, valued at approximately $270,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Abdiel Capital Advisors LP increased its holdings in BILL by 46.4% in the second quarter. Abdiel Capital Advisors LP now owns 3,454,823 shares of the company’s stock valued at $181,793,000 after purchasing an additional 1,095,396 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of BILL by 70.7% in the second quarter. Dimensional Fund Advisors LP now owns 1,388,441 shares of the company’s stock worth $73,049,000 after acquiring an additional 575,084 shares during the period. Marshall Wace LLP boosted its holdings in BILL by 13.9% in the second quarter. Marshall Wace LLP now owns 635,937 shares of the company’s stock valued at $33,463,000 after acquiring an additional 77,508 shares during the last quarter. Railway Pension Investments Ltd boosted its holdings in BILL by 51.1% in the second quarter. Railway Pension Investments Ltd now owns 549,946 shares of the company’s stock valued at $28,938,000 after acquiring an additional 185,900 shares during the last quarter. Finally, Armistice Capital LLC raised its holdings in BILL by 43.7% during the 2nd quarter. Armistice Capital LLC now owns 479,964 shares of the company’s stock worth $25,256,000 after purchasing an additional 145,901 shares during the last quarter. 97.99% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Alison Wagonfeld sold 519 shares of BILL stock in a transaction on Monday, October 21st. The stock was sold at an average price of $57.50, for a total transaction of $29,842.50. Following the sale, the director now directly owns 1,038 shares in the company, valued at approximately $59,685. This trade represents a 33.33 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 completion of the transaction, the senior vice president now owns 5,348 shares of the company’s stock, valued at $417,090.52. This trade represents a 22.19 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,112 shares of company stock valued at $398,910. Corporate insiders own 4.20% of the company’s stock.

BILL Price Performance

Shares of NYSE:BILL opened at $93.72 on Tuesday. The company has a current ratio of 1.53, a quick ratio of 1.53 and a debt-to-equity ratio of 0.23. The stock has a market cap of $9.70 billion, a PE ratio of -284.00 and a beta of 1.59. The stock’s fifty day simple moving average is $63.10 and its two-hundred day simple moving average is $55.70. BILL Holdings, Inc. has a 1-year low of $43.11 and a 1-year high of $94.28.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on BILL shares. Mizuho reduced their price objective on shares of BILL from $60.00 to $52.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 28th. Robert W. Baird increased their price target on BILL from $62.00 to $74.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Wells Fargo & Company dropped their price objective on BILL from $60.00 to $45.00 and set an “underweight” rating on the stock in a research note on Tuesday, August 20th. Oppenheimer lifted their target price on BILL from $70.00 to $83.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Finally, Needham & Company LLC restated a “buy” rating and set a $100.00 price target on shares of BILL in a report on Friday, August 23rd. One research analyst has rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $74.65.

BILL Company Profile

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.