Envestnet Asset Management Inc. Grows Position in Bill.com Holdings, Inc. (NYSE:BILL)

Envestnet Asset Management Inc. lifted its position in Bill.com Holdings, Inc. (NYSE:BILLGet Rating) by 322.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 109,082 shares of the company’s stock after buying an additional 83,245 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.11% of Bill.com worth $24,739,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of BILL. Norges Bank purchased a new stake in shares of Bill.com in the fourth quarter worth about $185,970,000. TD Asset Management Inc. increased its position in shares of Bill.com by 83.0% in the fourth quarter. TD Asset Management Inc. now owns 821,162 shares of the company’s stock worth $204,593,000 after purchasing an additional 372,416 shares during the last quarter. 1832 Asset Management L.P. increased its position in shares of Bill.com by 59.6% in the fourth quarter. 1832 Asset Management L.P. now owns 934,700 shares of the company’s stock worth $235,240,000 after purchasing an additional 349,000 shares during the last quarter. Eagle Asset Management Inc. bought a new position in shares of Bill.com in the fourth quarter worth approximately $52,339,000. Finally, Kensico Capital Management Corp bought a new position in shares of Bill.com in the fourth quarter worth approximately $45,619,000. 99.01% of the stock is owned by hedge funds and other institutional investors.

Bill.com Stock Performance

Shares of BILL stock opened at $134.67 on Tuesday. The stock has a fifty day moving average of $121.92 and a 200 day moving average of $167.29. Bill.com Holdings, Inc. has a 52 week low of $89.87 and a 52 week high of $348.49. The firm has a market capitalization of $14.04 billion, a price-to-earnings ratio of -46.60 and a beta of 2.27. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.15.

Bill.com (NYSE:BILLGet Rating) last announced its quarterly earnings results on Thursday, May 5th. The company reported ($0.62) EPS for the quarter, missing analysts’ consensus estimates of ($0.61) by ($0.01). Bill.com had a negative return on equity of 5.05% and a negative net margin of 54.96%. The business had revenue of $166.90 million during the quarter, compared to analysts’ expectations of $157.90 million. During the same period in the previous year, the business earned ($0.15) EPS. The business’s revenue was up 179.4% compared to the same quarter last year. As a group, research analysts expect that Bill.com Holdings, Inc. will post -2.3 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on BILL. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Bill.com from $265.00 to $177.00 and set a “buy” rating on the stock in a research report on Thursday, July 7th. 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. Piper Sandler reduced their price target on shares of Bill.com from $212.00 to $170.00 and set an “overweight” rating on the stock in a research report on Monday, July 18th. Oppenheimer reiterated an “outperform” rating and set a $150.00 price target on shares of Bill.com in a research report on Wednesday, July 27th. Finally, Needham & Company LLC reduced their price target on shares of Bill.com from $370.00 to $200.00 in a research report on Friday, May 6th. One equities research analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $229.05.

Insider Buying and Selling

In other Bill.com news, insider Bora Chung sold 8,854 shares of the firm’s stock in a transaction on 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 completion of the transaction, the insider now owns 616 shares of the company’s stock, valued at $69,811.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Bill.com news, insider Bora Chung sold 8,854 shares of the firm’s stock in a transaction on 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 completion of the transaction, the insider now owns 616 shares of the company’s stock, valued at $69,811.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO John R. Rettig sold 3,776 shares of the firm’s stock in a transaction on Tuesday, May 31st. The shares were sold at an average price of $119.86, for a total value of $452,591.36. Following the transaction, the chief financial officer now directly owns 65,614 shares of the company’s stock, valued at approximately $7,864,494.04. The disclosure for this sale can be found here. Insiders sold 49,942 shares of company stock valued at $5,823,789 over the last quarter. 5.70% of the stock is owned by company insiders.

Bill.com Company Profile

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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. It offers artificial intelligence enabled financial software platform that creates seamless connections among users, suppliers, and the clients.

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Institutional Ownership by Quarter for Bill.com (NYSE:BILL)

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