Bridgewater Associates LP Raises Stock Position in BILL Holdings, Inc. (NYSE:BILL)

Bridgewater Associates LP grew its holdings in BILL Holdings, Inc. (NYSE:BILL) by 504.0% during the 3rd quarter, Holdings Channel.com reports. The fund owned 127,721 shares of the company’s stock after acquiring an additional 106,576 shares during the period. Bridgewater Associates LP’s holdings in BILL were worth $6,739,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Abdiel Capital Advisors LP lifted its position in shares of BILL by 46.4% in the second quarter. Abdiel Capital Advisors LP now owns 3,454,823 shares of the company’s stock worth $181,793,000 after buying an additional 1,095,396 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of BILL by 70.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,388,441 shares of the company’s stock valued at $73,049,000 after acquiring an additional 575,084 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of BILL by 297.7% in the third quarter. Assenagon Asset Management S.A. now owns 380,640 shares of the company’s stock valued at $20,083,000 after purchasing an additional 284,935 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in BILL by 45.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 895,833 shares of the company’s stock worth $47,264,000 after purchasing an additional 279,256 shares during the last quarter. Finally, Clearline Capital LP raised its stake in BILL by 201.6% during the second quarter. Clearline Capital LP now owns 344,751 shares of the company’s stock valued at $18,141,000 after purchasing an additional 230,435 shares in the last quarter. Institutional investors own 97.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on BILL shares. Evercore ISI dropped their price objective on shares of BILL from $70.00 to $60.00 and set an “in-line” rating for the company in a research note on Friday, August 23rd. Susquehanna reaffirmed a “positive” rating and set a $100.00 price objective on shares of BILL in a research note on Monday, August 19th. Oppenheimer upped their price target on shares of BILL from $70.00 to $83.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Keefe, Bruyette & Woods dropped their target price on BILL from $60.00 to $55.00 and set a “market perform” rating for the company in a research report on Friday, August 23rd. Finally, Morgan Stanley increased their price target on BILL from $58.00 to $95.00 and gave the stock an “equal weight” rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $75.78.

BILL Stock Up 0.5 %

NYSE:BILL opened at $90.25 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.53 and a quick ratio of 1.53. The firm has a market cap of $9.34 billion, a PE ratio of -273.48 and a beta of 1.59. The company has a 50-day moving average of $66.13 and a 200 day moving average of $56.65. BILL Holdings, Inc. has a 1-year low of $43.11 and a 1-year high of $94.28.

Insider Transactions at BILL

In related news, Director Alison Wagonfeld sold 519 shares of the business’s stock in a transaction that occurred on 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 owns 1,038 shares of the company’s stock, valued at $59,685. The trade was a 33.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Germaine Cota sold 1,525 shares of the company’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. This represents a 22.19 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,823 shares of company stock valued at $218,887. Company insiders own 4.20% of the company’s stock.

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.