T. Rowe Price Associates, Inc. recently announced the acquisition of new stake in BILL Holdings Inc. (NYSE:BILL). The institutional investor has increased its shareholding in the Technology company by 17.88% to 12.25 million shares with purchase of 1.86 million shares. This fresh investment now brings its stake to 11.52% valued currently at $940.98 million. In addition, Morgan Stanley Investment Managem raised its holdings by 2.71 million to 11.0 million shares. And The Vanguard Group, Inc. has lifted its position by 2.96% or 0.26 million shares – to 9.15 million shares.
With over 1.78 million BILL Holdings Inc. (BILL) shares trading Monday and a closing price of $99.66 on the day, the dollar volume was approximately $177.23 million. The shares have shown a negative half year performance of -15.32% and its price on 05/22/23 gained nearly 5.28%. Currently, there are 106.60M common shares owned by the public and among those 101.47M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 27 analysts who have offered their price forecasts for BILL have a consensus price objective of $117.76. The analysts have set the share’s price value over the next 12 months at a high of $200.00 and a low of $69.00. The average price target is 13.93% above its recent price level and a downside to the estimated low will see the stock lose -44.43% over that period. But an upside of 50.17% will see the stock hit the forecast high price target while median target price for the stock is $110.00.
Insiders at the company have transacted a total of 290 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 97 of these insider trades were purchases, accounting for 738,225 shares. Insider sales of the common stock occurred on 193 occasions, with total insider shares sold totaling 625,869 shares.
The top 3 mutual fund holders in BILL Holdings Inc. are T Rowe Price New Horizons Fund, Vanguard Total Stock Market ETF, and Vanguard Mid Cap Index Fund. T Rowe Price New Horizons Fund owns 6.42 million shares of the company’s stock, all valued at over $493.25 million. The company bought an additional 0.66 million shares recently to bring their total holdings to about 6.04% of the shares outstanding. Vanguard Total Stock Market ETF bought 39150.0 shares to see its total holdings expand to 3.13 million shares valued at over $240.05 million and representing 2.94% of the shares outstanding. Vanguard Mid Cap Index Fund bought 20116.0 shares to bring its total holdings to over 2.36 million shares at a value of $181.32 million. Vanguard Mid Cap Index Fund now owns shares totaling to 2.22% of the shares outstanding.
Shares of BILL Holdings Inc. (NYSE: BILL) opened at $94.25, down -$0.41 from a prior closing price of $94.66. However, the script later moved the day high at 99.71, up 5.28%. The company’s stock has a 5-day price change of 2.02% and 9.67% over the past three months. BILL shares are trading -8.54% year to date (YTD), with the 12-month market performance down to -12.90% lower. It has a 12-month low price of $68.30 and touched a high of $179.85 over the same period. BILL has an average intraday trading volume of 2.33 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 13.70%, 24.05%, and -10.98% respectively.
Institutional ownership of BILL Holdings Inc. (NYSE: BILL) shares accounts for 98.50% of the company’s 106.60M shares outstanding. Mutual fund holders own 43.78%, while other institutional holders and individual stakeholders account for 53.31% and 12.10% respectively.
It has a market capitalization of $10.94B and a beta (3y monthly) value of 1.91. The earnings-per-share (ttm) stands at -$2.78. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.01% over the week and 4.87% over the month.
Analysts forecast that BILL Holdings Inc. (BILL) will achieve an EPS of $0.41 for the current quarter, $0.39 for the next quarter and $1.79 for 2024. The lowest estimate earnings-per-share for the quarter is $0.39 while analysts give the company a high EPS estimate of $0.44. Comparatively, EPS for the current quarter was -$0.03 a year ago. Earnings per share for the fiscal year are expected to decrease by -169.10%, and 21.42% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 27 brokerage firm advisors rate BILL Holdings Inc. (BILL) as a “Moderate Buy” at a consensus score of 2.00. Specifically, 20 Wall Street analysts polled rate the stock as a buy, while 6 of the 27 advise that investors “hold,” and 1 rated it as a “Sell.”
