DnB Asset Management AS increased its stake in Bill.com Holdings, Inc. (NYSE:BILL – Get Rating) by 17.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,351 shares of the company's stock after acquiring an additional 1,998 shares during the period. DnB Asset Management AS's holdings in Bill.com were worth $1,468,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Amalgamated Bank grew its position in Bill.com by 10.1% in the first quarter. Amalgamated Bank now owns 21,543 shares of the company's stock worth $4,886,000 after acquiring an additional 1,973 shares in the last quarter. Stelac Advisory Services LLC bought a new stake in Bill.com in the first quarter worth about $160,000. Livforsakringsbolaget Skandia Omsesidigt bought a new stake in Bill.com in the first quarter worth about $181,000. American Trust bought a new stake in Bill.com in the first quarter worth about $680,000. Finally, Walleye Capital LLC bought a new stake in Bill.com in the first quarter worth about $7,668,000. Hedge funds and other institutional investors own 95.85% of the company's stock.
Get Bill.com alerts:Wall Street Analysts Forecast Growth
Several analysts have issued reports on BILL shares. Evercore ISI raised their price objective on shares of Bill.com to $165.00 in a research note on Monday, August 22nd. Susquehanna Bancshares started coverage on shares of Bill.com in a research note on Thursday, September 15th. They set a "positive" rating and a $190.00 price target for the company. Credit Suisse Group lifted their price target on shares of Bill.com to $220.00 in a research note on Monday, August 22nd. Oppenheimer reaffirmed an "outperform" rating and set a $200.00 price target on shares of Bill.com in a research note on Tuesday. Finally, JPMorgan Chase & Co. lifted their price target on shares of Bill.com from $200.00 to $222.00 and gave the company an "overweight" rating in a research note on Friday, August 19th. Eighteen investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $230.45.
Insider Activity
In other news, CFO John R. Rettig sold 3,607 shares of the business's stock in a transaction on Monday, August 29th. The shares were sold at an average price of $164.23, for a total transaction of $592,377.61. Following the sale, the chief financial officer now directly owns 28,070 shares of the company's stock, valued at $4,609,936.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CFO John R. Rettig sold 3,607 shares of the business's stock in a transaction on Monday, August 29th. The shares were sold at an average price of $164.23, for a total transaction of $592,377.61. Following the sale, the chief financial officer now directly owns 28,070 shares of the company's stock, valued at $4,609,936.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Blake Thomas Murray sold 95,826 shares of the business's stock in a transaction on Monday, August 29th. The shares were sold at an average price of $164.23, for a total transaction of $15,737,503.98. Following the sale, the insider now directly owns 116,124 shares in the company, valued at $19,071,044.52. The disclosure for this sale can be found here. Insiders have sold 189,211 shares of company stock valued at $30,348,069 over the last ninety days. 5.70% of the stock is currently owned by insiders.Bill.com Price Performance
NYSE BILL opened at $138.52 on Thursday. The firm's fifty day simple moving average is $148.78 and its two-hundred day simple moving average is $154.48. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.42. Bill.com Holdings, Inc. has a 12-month low of $89.87 and a 12-month high of $348.49. The firm has a market capitalization of $14.52 billion, a P/E ratio of -43.02 and a beta of 2.15.
Bill.com (NYSE:BILL – Get Rating) last released its quarterly earnings results on Thursday, August 18th. The company reported ($0.58) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.68) by $0.10. Bill.com had a negative net margin of 51.22% and a negative return on equity of 5.13%. The business had revenue of $200.22 million for the quarter, compared to analyst estimates of $183.10 million. During the same period in the previous year, the company earned ($0.44) earnings per share. The business's revenue for the quarter was up 155.8% on a year-over-year basis. Analysts forecast that Bill.com Holdings, Inc. will post -2.17 EPS for the current fiscal year.
About Bill.com
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Bill.com Holdings, Inc provides cloud-based software that simplifies, digitizes, and automates back-office financial operations 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.
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