Truist Financial Corp Takes $203,000 Position in BILL Holdings, Inc. (NYSE:BILL)

Truist Financial Corp purchased a new stake in BILL Holdings, Inc. (NYSE:BILL) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 2,395 shares of the company’s stock, valued at approximately $203,000.

Several other institutional investors have also added to or reduced their stakes in BILL. Abdiel Capital Advisors LP raised its position in BILL by 48.2% during the third quarter. Abdiel Capital Advisors LP now owns 5,121,139 shares of the company’s stock valued at $270,191,000 after purchasing an additional 1,666,316 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of BILL by 5,201.3% during the fourth quarter. Principal Financial Group Inc. now owns 391,604 shares of the company’s stock worth $33,173,000 after buying an additional 384,217 shares during the last quarter. Two Sigma Advisers LP grew its stake in shares of BILL by 87.0% during the third 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 last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of BILL by 45.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 895,833 shares of the company’s stock worth $47,264,000 after buying an additional 279,256 shares during the last quarter. Finally, Invenomic Capital Management LP grew its stake in shares of BILL by 204.1% during the third quarter. Invenomic Capital Management LP now owns 287,245 shares of the company’s stock worth $15,155,000 after buying an additional 192,776 shares during the last quarter. 97.99% of the stock is currently owned by institutional investors and hedge funds.

BILL Stock Performance

Shares of BILL opened at $47.61 on Friday. The firm’s fifty day simple moving average is $76.17 and its two-hundred day simple moving average is $70.36. BILL Holdings, Inc. has a 12 month low of $43.11 and a 12 month high of $100.19. The stock has a market capitalization of $4.85 billion, a P/E ratio of -4,761.10, a price-to-earnings-growth ratio of 29.46 and a beta of 2.00. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.44.

BILL (NYSE:BILL) last announced its quarterly earnings data on Thursday, February 6th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.38). BILL had a net margin of 5.90% and a return on equity of 1.53%. As a group, analysts predict that BILL Holdings, Inc. will post 0.12 EPS for the current year.

Analyst Ratings Changes

A number of analysts have weighed in on BILL shares. Keefe, Bruyette & Woods decreased their target price on shares of BILL from $95.00 to $77.00 and set a “market perform” rating on the stock in a research note on Friday, February 7th. Robert W. Baird boosted 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. Morgan Stanley raised shares of BILL from an “equal weight” rating to an “overweight” rating and set a $95.00 target price on the stock in a research note on Thursday, January 16th. KeyCorp decreased their target price on shares of BILL from $115.00 to $85.00 and set an “overweight” rating on the stock in a research note on Friday, February 7th. Finally, Mizuho boosted their price objective on shares of BILL from $64.00 to $75.00 and gave the stock a “neutral” rating in a research note on Friday, December 13th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $81.72.

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.