Short Interest in BILL Holdings, Inc. (NYSE:BILL) Increases By 19.8%

BILL Holdings, Inc. (NYSE:BILL) saw a large growth in short interest in the month of February. As of February 15th, there was short interest totalling 7,620,000 shares, a growth of 19.8% from the January 31st total of 6,360,000 shares. Based on an average daily trading volume, of 3,180,000 shares, the days-to-cover ratio is presently 2.4 days.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD lifted its holdings in shares of BILL by 10.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 12,879,448 shares of the company’s stock worth $1,091,019,000 after acquiring an additional 1,241,432 shares during the period. Groupama Asset Managment lifted its holdings in shares of BILL by 162.8% during the 4th quarter. Groupama Asset Managment now owns 5,650,000 shares of the company’s stock worth $478,611,000 after acquiring an additional 3,500,000 shares during the period. Abdiel Capital Advisors LP lifted its holdings in shares of BILL by 48.2% during the 3rd quarter. Abdiel Capital Advisors LP now owns 5,121,139 shares of the company’s stock worth $270,191,000 after acquiring an additional 1,666,316 shares during the period. Geode Capital Management LLC lifted its holdings in shares of BILL by 8.0% during the 4th quarter. Geode Capital Management LLC now owns 1,622,998 shares of the company’s stock worth $137,528,000 after acquiring an additional 119,711 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in shares of BILL by 112.6% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,610,447 shares of the company’s stock worth $136,421,000 after acquiring an additional 852,863 shares during the period. 97.99% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BILL has been the topic of several recent research reports. Morgan Stanley raised shares of BILL from an “equal weight” rating to an “overweight” rating and set a $95.00 price objective on the stock in a research note on Thursday, January 16th. Piper Sandler reaffirmed an “overweight” rating and set a $85.00 price target on shares of BILL in a research note on Friday, February 7th. The Goldman Sachs Group lowered their price target on shares of BILL from $104.00 to $90.00 and set a “buy” rating on the stock in a research note on Friday, February 7th. Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 price target on shares of BILL in a research note on Friday, February 7th. Finally, Susquehanna upped their price target on shares of BILL from $91.00 to $100.00 and gave the stock a “positive” rating in a research note on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $81.72.

BILL Price Performance

NYSE:BILL opened at $47.24 on Friday. The firm has a market cap of $4.82 billion, a price-to-earnings ratio of -4,723.90, a price-to-earnings-growth ratio of 29.46 and a beta of 2.00. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.44. The company’s 50-day moving average is $75.38 and its two-hundred day moving average is $70.34. BILL has a 12-month low of $43.11 and a 12-month high of $100.19.

BILL (NYSE:BILL) last released its earnings results on Thursday, February 6th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.38). BILL had a net margin of 5.90% and a return on equity of 1.53%. Research analysts expect that BILL will post 0.12 EPS for the current year.

About BILL

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.