Institute for Wealth Management LLC. Reduces Holdings in BILL Holdings, Inc. (NYSE:BILL)

Institute for Wealth Management LLC. trimmed its stake in BILL Holdings, Inc. (NYSE:BILL) by 5.2% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 6,984 shares of the company’s stock after selling 386 shares during the period. Institute for Wealth Management LLC.’s holdings in BILL were worth $592,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC grew its position in shares of BILL by 74.9% in the 4th quarter. GAMMA Investing LLC now owns 306 shares of the company’s stock valued at $26,000 after buying an additional 131 shares during the last quarter. Fifth Third Bancorp purchased a new position in BILL during the 4th quarter worth $27,000. UMB Bank n.a. purchased a new position in BILL during the 4th quarter worth $35,000. Brooklyn Investment Group purchased a new position in BILL during the 3rd quarter worth $28,000. Finally, Advisors Asset Management Inc. grew its position in BILL by 30.8% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,101 shares of the company’s stock worth $58,000 after purchasing an additional 259 shares during the last quarter. 97.99% of the stock is owned by hedge funds and other institutional investors.

BILL Stock Up 0.9 %

Shares of NYSE BILL opened at $96.95 on Friday. The company has a quick ratio of 1.53, a current ratio of 1.53 and a debt-to-equity ratio of 0.23. BILL Holdings, Inc. has a 52 week low of $43.11 and a 52 week high of $100.19. The firm has a 50-day moving average price of $89.01 and a 200 day moving average price of $67.88. The stock has a market capitalization of $10.03 billion, a price-to-earnings ratio of -293.78, a price-to-earnings-growth ratio of 162.34 and a beta of 1.72.

Wall Street Analysts Forecast Growth

BILL has been the topic of several research reports. Oppenheimer raised their price objective on shares of BILL from $70.00 to $83.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. The Goldman Sachs Group raised shares of BILL from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $96.00 to $104.00 in a research report on Thursday, January 9th. 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 report on Thursday, January 16th. Susquehanna raised their price objective on shares of BILL from $91.00 to $100.00 and gave the stock a “positive” rating in a research report on Tuesday, January 7th. Finally, KeyCorp upgraded shares of BILL from a “sector weight” rating to an “overweight” rating and set a $115.00 target price for the company in a research note on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, BILL presently has an average rating of “Moderate Buy” and a consensus price target of $85.00.

Insider Activity at BILL

In other BILL news, SVP Germaine Cota sold 1,525 shares of BILL stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $77.99, for a total transaction of $118,934.75. Following the completion of the transaction, the senior vice president now owns 5,348 shares in the company, valued at approximately $417,090.52. The trade was a 22.19 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Alison Wagonfeld sold 779 shares of BILL stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $90.00, for a total transaction of $70,110.00. Following the transaction, the director now owns 259 shares of the company’s stock, valued at approximately $23,310. The trade was a 75.05 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 4.20% of the company’s stock.

BILL Company 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.