Allspring Global Investments Holdings LLC Sells 261,885 Shares of BILL Holdings, Inc. (NYSE:BILL)

Allspring Global Investments Holdings LLC lessened its holdings in BILL Holdings, Inc. (NYSE:BILL) by 30.7% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 591,300 shares of the company’s stock after selling 261,885 shares during the period. Allspring Global Investments Holdings LLC owned about 0.55% of BILL worth $48,244,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in BILL. Quarry LP lifted its stake in shares of BILL by 173.4% in the 1st quarter. Quarry LP now owns 391 shares of the company’s stock worth $32,000 after purchasing an additional 248 shares during the period. Brown Brothers Harriman & Co. bought a new position in shares of BILL in the 1st quarter worth approximately $38,000. Coppell Advisory Solutions Corp. bought a new position in shares of BILL in the 4th quarter worth approximately $44,000. Coppell Advisory Solutions LLC purchased a new stake in BILL in the 2nd quarter worth approximately $52,000. Finally, Meeder Asset Management Inc. increased its holdings in BILL by 416.7% in the 4th quarter. Meeder Asset Management Inc. now owns 589 shares of the company’s stock worth $64,000 after acquiring an additional 475 shares in the last quarter. Institutional investors own 97.99% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Oppenheimer increased their target price on shares of BILL from $75.00 to $83.00 and gave the stock an “overweight” rating in a report on Friday, February 9th. Piper Sandler reissued an “overweight” rating and issued a $95.00 target price on shares of BILL in a report on Wednesday, February 7th. Citigroup increased their target price on shares of BILL from $85.00 to $86.00 and gave the stock a “buy” rating in a report on Monday, February 12th. BNP Paribas raised shares of BILL from an “underperform” rating to a “neutral” rating and set a $72.00 target price for the company in a report on Wednesday, March 13th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $100.00 target price on shares of BILL in a report on Friday, February 9th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $106.62.

Insider Buying and Selling

In related news, SVP Germaine Cota sold 920 shares of the firm’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $65.34, for a total value of $60,112.80. Following the completion of the sale, the senior vice president now directly owns 5,093 shares in the company, valued at $332,776.62. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 3.80% of the stock is owned by corporate insiders.

BILL Stock Up 1.6 %

NYSE BILL opened at $64.11 on Friday. The company has a market capitalization of $6.74 billion, a P/E ratio of -59.36, a P/E/G ratio of 86.25 and a beta of 1.66. The stock has a 50 day moving average price of $66.18 and a 200-day moving average price of $76.09. BILL Holdings, Inc. has a one year low of $51.94 and a one year high of $139.50. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.69 and a current ratio of 1.69.

BILL (NYSE:BILL) last issued its quarterly earnings results on Thursday, February 8th. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.26. The company had revenue of $318.50 million during the quarter, compared to the consensus estimate of $296.62 million. BILL had a positive return on equity of 0.29% and a negative net margin of 9.67%. As a group, equities analysts predict that BILL Holdings, Inc. will post 0.03 EPS for the current fiscal year.

BILL Profile

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.