Bill.com Holdings, Inc. (NYSE:BILL – Get Rating)’s stock price traded down 10.8% during mid-day trading on Tuesday after Piper Sandler lowered their price target on the stock from $300.00 to $205.00. Piper Sandler currently has an overweight rating on the stock. Bill.com traded as low as $102.29 and last traded at $102.29. 5,759 shares traded hands during trading, a decline of 100% from the average session volume of 2,542,344 shares. The stock had previously closed at $114.66.
Several other research analysts have also issued reports on BILL. Evercore ISI dropped their target price on Bill.com from $300.00 to $200.00 and set an “inline” rating for the company in a research report on Friday, February 4th. Wells Fargo & Company initiated coverage on shares of Bill.com in a research note on Monday, April 4th. They set an “overweight” rating and a $284.00 price target for the company. Oppenheimer decreased their price target on shares of Bill.com from $285.00 to $190.00 in a research note on Friday, May 6th. KeyCorp lifted their price target on shares of Bill.com from $225.00 to $250.00 and gave the company an “overweight” rating in a research note on Thursday, February 3rd. Finally, BMO Capital Markets boosted their price objective on shares of Bill.com from $209.00 to $258.00 in a research note on Friday, February 4th. Four equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $239.68.
In other news, CEO Rene A. Lacerte sold 6,429 shares of the stock in a transaction dated Tuesday, March 1st. The shares were sold at an average price of $238.75, for a total transaction of $1,534,923.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Bora Chung sold 8,854 shares of the stock in a transaction dated Monday, May 16th. The stock was sold at an average price of $113.33, for a total transaction of $1,003,423.82. Following the sale, the insider now directly owns 616 shares in the company, valued at $69,811.28. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 88,687 shares of company stock worth $16,094,897. 5.70% of the stock is owned by corporate insiders.
Hedge funds have recently bought and sold shares of the company. Morgan Stanley raised its position in shares of Bill.com by 1,668.2% during the 3rd quarter. Morgan Stanley now owns 6,695,644 shares of the company’s stock worth $1,787,402,000 after purchasing an additional 6,316,969 shares during the last quarter. WCM Investment Management LLC raised its position in shares of Bill.com by 8,810.7% during the 1st quarter. WCM Investment Management LLC now owns 1,363,158 shares of the company’s stock worth $309,151,000 after purchasing an additional 1,347,860 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of Bill.com during the 4th quarter worth about $296,921,000. Norges Bank acquired a new position in shares of Bill.com during the 4th quarter worth about $185,970,000. Finally, Capital International Investors raised its position in shares of Bill.com by 12.4% during the 1st quarter. Capital International Investors now owns 5,742,410 shares of the company’s stock worth $1,302,321,000 after purchasing an additional 633,046 shares during the last quarter. 99.01% of the stock is currently owned by institutional investors and hedge funds.
The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.15. The firm’s 50-day moving average is $181.49 and its two-hundred day moving average is $216.91. The stock has a market cap of $10.64 billion, a price-to-earnings ratio of -35.32 and a beta of 2.32.
Bill.com (NYSE:BILL – Get Rating) last released its quarterly earnings results on Thursday, May 5th. The company reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.08. Bill.com had a negative net margin of 54.96% and a negative return on equity of 5.05%. The firm had revenue of $166.90 million during the quarter, compared to the consensus estimate of $157.90 million. During the same quarter in the prior year, the firm earned ($0.15) EPS. The company’s revenue for the quarter was up 179.4% on a year-over-year basis. On average, analysts predict that Bill.com Holdings, Inc. will post -2.27 earnings per share for the current year.
Bill.com Company Profile (NYSE:BILL)
Bill.com Holdings, Inc provides cloud-based software that simplifies, digitizes, and automates back-office financial operations for small and midsize businesses worldwide. It offers artificial intelligence enabled financial software platform that creates seamless connections among users, suppliers, and the clients.