Citigroup Raises BILL (NYSE:BILL) Price Target to $86.00

BILL (NYSE:BILLFree Report) had its price objective raised by Citigroup from $85.00 to $86.00 in a research report sent to investors on Monday morning, Benzinga reports. They currently have a buy rating on the stock.

A number of other research firms have also weighed in on BILL. Oppenheimer boosted their price objective on shares of BILL from $75.00 to $83.00 and gave the company an overweight rating in a research report on Friday. William Blair lowered shares of BILL from an outperform rating to a market perform rating in a research report on Friday, November 3rd. Needham & Company LLC restated a buy rating and issued a $100.00 target price on shares of BILL in a report on Friday. UBS Group restated a buy rating and issued a $126.00 target price on shares of BILL in a report on Friday, October 20th. Finally, Piper Sandler restated an overweight rating and issued a $95.00 target price on shares of BILL in a report on Wednesday, February 7th. One analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the stock has an average rating of Moderate Buy and an average price target of $108.85.

Check Out Our Latest Report on BILL

BILL Stock Performance

Shares of BILL opened at $66.00 on Monday. The company has a 50-day moving average of $76.08 and a two-hundred day moving average of $89.54. The company has a current ratio of 1.81, a quick ratio of 1.81 and a debt-to-equity ratio of 0.41. The stock has a market cap of $7.05 billion, a P/E ratio of -61.11 and a beta of 1.74. BILL has a 12-month low of $51.94 and a 12-month high of $139.50.

Insider Activity

In other news, SVP Germaine Cota sold 1,259 shares of the firm’s stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $67.41, for a total transaction of $84,869.19. Following the completion of the transaction, the senior vice president now owns 4,214 shares in the company, valued at approximately $284,065.74. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other BILL news, insider Loren Padelford sold 6,011 shares of the company’s stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $67.41, for a total transaction of $405,201.51. Following the completion of the sale, the insider now directly owns 10,573 shares of the company’s stock, valued at $712,725.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Germaine Cota sold 1,259 shares of the stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $67.41, for a total transaction of $84,869.19. Following the completion of the sale, the senior vice president now directly owns 4,214 shares of the company’s stock, valued at $284,065.74. The disclosure for this sale can be found here. In the last quarter, insiders sold 27,613 shares of company stock worth $1,863,557. Corporate insiders own 3.80% of the company’s stock.

Hedge Funds Weigh In On BILL

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in BILL by 0.7% during the third quarter. Vanguard Group Inc. now owns 9,719,104 shares of the company’s stock valued at $1,055,203,000 after acquiring an additional 66,951 shares in the last quarter. Newlands Management Operations LLC lifted its holdings in shares of BILL by 149.1% during the second quarter. Newlands Management Operations LLC now owns 2,620,062 shares of the company’s stock valued at $306,154,000 after acquiring an additional 1,568,188 shares during the period. Lone Pine Capital LLC lifted its holdings in shares of BILL by 39.7% during the third quarter. Lone Pine Capital LLC now owns 2,546,689 shares of the company’s stock valued at $276,494,000 after acquiring an additional 723,151 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of BILL by 25.1% during the second quarter. Goldman Sachs Group Inc. now owns 1,616,806 shares of the company’s stock valued at $177,752,000 after acquiring an additional 324,354 shares during the period. Finally, T. Rowe Price Investment Management Inc. lifted its holdings in shares of BILL by 1.3% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,544,675 shares of the company’s stock valued at $168,308,000 after acquiring an additional 19,378 shares during the period.

BILL Company Profile

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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.

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