Short Interest in Bill.com Holdings, Inc. (NYSE:BILL) Decreases By 14.9%

Bill.com Holdings, Inc. (NYSE:BILLGet Rating) was the target of a large decline in short interest in the month of May. As of May 31st, there was short interest totalling 6,100,000 shares, a decline of 14.9% from the May 15th total of 7,170,000 shares. Based on an average daily volume of 2,350,000 shares, the days-to-cover ratio is presently 2.6 days.

BILL has been the topic of a number of recent research reports. Piper Sandler upped their price target on shares of Bill.com from $205.00 to $212.00 and gave the company an “overweight” rating in a research note on Thursday. Oppenheimer lowered their target price on shares of Bill.com from $190.00 to $150.00 and set a “buy” rating for the company in a report on Friday. Wells Fargo & Company began coverage on shares of Bill.com in a research report on Monday, April 4th. They issued an “overweight” rating and a $284.00 price objective on the stock. KeyCorp decreased their price target on Bill.com from $225.00 to $175.00 and set an “overweight” rating for the company in a research note on Tuesday, May 31st. Finally, Needham & Company LLC cut their price objective on Bill.com from $370.00 to $200.00 in a research report on Friday, May 6th. Three analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $237.00.

NYSE:BILL traded up $6.57 during midday trading on Friday, hitting $111.44. The company’s stock had a trading volume of 23,203 shares, compared to its average volume of 2,160,558. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.41 and a quick ratio of 1.41. Bill.com has a fifty-two week low of $89.87 and a fifty-two week high of $348.49. The firm’s 50 day moving average is $143.44 and its 200-day moving average is $193.47. The firm has a market cap of $11.62 billion, a P/E ratio of -36.29 and a beta of 2.36.

Bill.com (NYSE:BILLGet Rating) last posted its quarterly earnings results on Thursday, May 5th. The company reported ($0.08) EPS for the quarter, beating the consensus estimate of ($0.16) by $0.08. The company had revenue of $166.90 million for the quarter, compared to analyst estimates of $157.90 million. Bill.com had a negative net margin of 54.96% and a negative return on equity of 5.05%. The firm’s revenue was up 179.4% on a year-over-year basis. During the same period in the prior year, the company earned ($0.15) earnings per share. As a group, analysts forecast that Bill.com will post -2.27 EPS for the current year.

In other news, insider Bora Chung sold 938 shares of the business’s stock in a transaction that occurred on Tuesday, May 31st. The shares were sold at an average price of $124.84, for a total transaction of $117,099.92. Following the completion of the transaction, the insider now directly owns 2,806 shares of the company’s stock, valued at $350,301.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Rene A. Lacerte sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, April 18th. The stock was sold at an average price of $190.82, for a total transaction of $1,908,200.00. Following the completion of the sale, the chief executive officer now owns 78,970 shares in the company, valued at approximately $15,069,055.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 57,789 shares of company stock worth $8,961,737. Insiders own 5.70% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Reilly Financial Advisors LLC acquired a new stake in shares of Bill.com in the fourth quarter valued at approximately $26,000. AlphaCentric Advisors LLC acquired a new position in shares of Bill.com during the 4th quarter valued at about $34,000. Brown Brothers Harriman & Co. acquired a new position in shares of Bill.com during the 1st quarter valued at about $38,000. CWM LLC increased its position in Bill.com by 540.6% during the first quarter. CWM LLC now owns 205 shares of the company’s stock worth $46,000 after purchasing an additional 173 shares during the last quarter. Finally, KB Financial Partners LLC purchased a new position in Bill.com during the fourth quarter worth about $51,000. Hedge funds and other institutional investors own 99.01% of the company’s stock.

About Bill.com (Get Rating)

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.

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