Coatue Management LLC Raises Holdings in Bill.com Holdings, Inc. (NYSE:BILL)

Coatue Management LLC increased its position in shares of Bill.com Holdings, Inc. (NYSE:BILL) by 278.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 290,288 shares of the company’s stock after purchasing an additional 213,657 shares during the quarter. Coatue Management LLC owned approximately 0.31% of Bill.com worth $53,175,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Natixis acquired a new position in Bill.com during the second quarter worth $627,000. Wit LLC acquired a new position in shares of Bill.com in the 2nd quarter valued at $1,293,000. Insight Holdings Group LLC acquired a new position in shares of Bill.com in the 2nd quarter valued at $205,879,000. Neuberger Berman Group LLC lifted its stake in shares of Bill.com by 5.9% in the 2nd quarter. Neuberger Berman Group LLC now owns 24,489 shares of the company’s stock valued at $4,405,000 after purchasing an additional 1,375 shares during the last quarter. Finally, Jump Financial LLC acquired a new position in shares of Bill.com in the 2nd quarter valued at $595,000. Hedge funds and other institutional investors own 87.23% of the company’s stock.

Bill.com stock traded up $10.54 during mid-day trading on Thursday, reaching $305.25. 21,072 shares of the company were exchanged, compared to its average volume of 1,867,813. Bill.com Holdings, Inc. has a twelve month low of $89.19 and a twelve month high of $301.99. The firm’s 50-day simple moving average is $256.87 and its two-hundred day simple moving average is $198.01. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.55 and a current ratio of 1.55. The firm has a market cap of $28.93 billion, a PE ratio of -251.89 and a beta of 2.42.

Bill.com (NYSE:BILL) last posted its quarterly earnings results on Wednesday, August 25th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.03). The business had revenue of $78.30 million during the quarter, compared to analyst estimates of $64.98 million. Bill.com had a negative net margin of 41.43% and a negative return on equity of 6.22%. The firm’s quarterly revenue was up 85.9% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.02) earnings per share. As a group, equities research analysts anticipate that Bill.com Holdings, Inc. will post -2.15 EPS for the current year.

Several brokerages have recently commented on BILL. Piper Sandler upped their price target on Bill.com from $180.00 to $280.00 and gave the company an “overweight” rating in a research note on Friday, August 27th. Oppenheimer increased their target price on Bill.com from $175.00 to $270.00 and gave the stock an “outperform” rating in a research note on Friday, August 27th. KeyCorp increased their target price on Bill.com from $175.00 to $275.00 and gave the stock an “overweight” rating in a research note on Friday, August 27th. Susquehanna Bancshares increased their target price on Bill.com from $160.00 to $176.00 and gave the stock a “neutral” rating in a research note on Friday, June 25th. Finally, Needham & Company LLC upped their price target on Bill.com from $215.00 to $280.00 and gave the stock a “buy” rating in a report on Friday, August 27th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, Bill.com currently has an average rating of “Buy” and a consensus price target of $247.00.

In related news, CRO Thomas J. Clayton sold 94 shares of the firm’s stock in a transaction that occurred on Wednesday, September 8th. The stock was sold at an average price of $292.53, for a total value of $27,497.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Bora Chung sold 18,848 shares of the firm’s stock in a transaction that occurred on Friday, July 16th. The shares were sold at an average price of $181.31, for a total value of $3,417,330.88. The disclosure for this sale can be found here. Insiders sold a total of 262,243 shares of company stock valued at $65,820,132 over the last three months. Insiders own 11.10% of the company’s stock.

Bill.com Profile

Bill.com Holdings, Inc provides cloud-based software that digitizes and automates back-office financial operations for small and midsize businesses worldwide. It offers artificial-intelligence (AI)-enabled financial software platform. The company provides software-as-a-service, cloud-based payments 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, manage cash flows, and enhance office efficiency.

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

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