BILL Holdings, Inc. (NYSE:BILL) Short Interest Up 19.8% in February

BILL Holdings, Inc. (NYSE:BILL) was the recipient of a large growth in short interest in the month of February. As of February 15th, there was short interest totalling 7,620,000 shares, a growth of 19.8% from the January 31st total of 6,360,000 shares. Based on an average daily trading volume, of 3,180,000 shares, the short-interest ratio is presently 2.4 days.

Hedge Funds Weigh In On BILL

Several institutional investors and hedge funds have recently made changes to their positions in the business. Groupama Asset Managment boosted its position in BILL by 162.8% during the fourth quarter. Groupama Asset Managment now owns 5,650,000 shares of the company’s stock valued at $478,611,000 after buying an additional 3,500,000 shares during the period. Abdiel Capital Advisors LP boosted its holdings in shares of BILL by 48.2% during the third quarter. Abdiel Capital Advisors LP now owns 5,121,139 shares of the company’s stock worth $270,191,000 after purchasing an additional 1,666,316 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of BILL by 10.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,879,448 shares of the company’s stock worth $1,091,019,000 after purchasing an additional 1,241,432 shares during the period. Norges Bank bought a new stake in shares of BILL in the fourth quarter worth about $99,906,000. Finally, Invesco Ltd. increased its holdings in BILL by 828.1% during the 4th quarter. Invesco Ltd. now owns 1,301,720 shares of the company’s stock valued at $110,269,000 after purchasing an additional 1,161,457 shares during the period. Institutional investors own 97.99% of the company’s stock.

BILL Price Performance

BILL stock traded down $2.08 during mid-day trading on Friday, reaching $45.58. 1,757,868 shares of the company traded hands, compared to its average volume of 3,496,173. The company has a fifty day moving average price of $76.17 and a 200-day moving average price of $70.36. BILL has a 52-week low of $43.11 and a 52-week high of $100.19. The company has a market capitalization of $4.65 billion, a P/E ratio of -4,555.80, a P/E/G ratio of 29.46 and a beta of 2.00. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.66 and a quick ratio of 1.66.

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

Analyst Upgrades and Downgrades

Several research analysts have recently commented on BILL shares. The Goldman Sachs Group lowered their target price on shares of BILL from $104.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, February 7th. Wells Fargo & Company dropped their target price on BILL from $65.00 to $57.00 and set an “underweight” rating for the company in a research report on Friday, February 7th. Oppenheimer decreased their price objective on BILL from $110.00 to $90.00 and set an “outperform” rating for the company in a report on Friday, February 7th. Piper Sandler restated an “overweight” rating and set a $85.00 price objective on shares of BILL in a research report on Friday, February 7th. Finally, Canaccord Genuity Group restated a “buy” rating and issued a $105.00 price target on shares of BILL in a research report on Friday, February 7th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, BILL has an average rating of “Moderate Buy” and a consensus 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.