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Bill.com Holdings, Inc. (NYSE:BILL) Short Interest Drops 29.8% in March

Bill.com Holdings, Inc. (NYSE: BILL – Get Rating) was the target of a significant drop in short interest during the month of March. As of March 15, there was short interest totaling 6,940,000 shares, a decline of 29.8% from February 28’s total of 9,880,000 shares. Based on an average daily trading volume of 2,350,000 shares, the day-to-cover ratio is currently 3.0 days.

BILL opened at $231.77 on Tuesday. The company has a market capitalization of $24.01 billion, a P/E ratio of -97.79 and a beta of 2.25. The company’s 50-day moving average price is $209.21 and its 200-day moving average price is $249.24. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt ratio of 0.16. Bill.com has a 12 month minimum of $128.00 and a 12 month maximum of $348.49.

Bill.com (NYSE:BILL – Get Rating) last released its quarterly earnings data on Thursday, February 3. The company reported ($0.38) EPS for the quarter, beating Thomson Reuters consensus estimate of ($0.53) by $0.15. The company posted revenue of $156.48 million for the quarter, versus a consensus estimate of $130.58 million. Bill.com had a negative return on equity of 4.69% and a negative net margin of 54.69%. Equity research analysts expect Bill.com to post earnings per share of -2.33 for the current fiscal year.

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Separately, insider Bora Chung sold 10,572 shares of the company in a trade on Wednesday, March 16. The stock was sold at an average price of $191.86, for a total value of $2,028,343.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available via this hyperlink. Additionally, CEO Rene A. Lacerte sold 10,000 shares of the company in a trade on Tuesday, March 15. The stock was sold at an average price of $171.99, for a total value of $1,719,900.00. The disclosure of this sale can be found here. Insiders have sold 98,169 shares of the company valued at $20,401,473 in the past three months. Insiders of the company own 5.70% of the shares of the company.

A number of large investors have recently changed their positions in BILL. Reilly Financial Advisors LLC bought a new position in Bill.com during Q4 worth approximately $26,000. Winch Advisory Services LLC increased its position in Bill.com by 89.1% during the third quarter. Winch Advisory Services LLC now owns 121 shares of the company valued at $32,000 after acquiring 57 additional shares in the last quarter. AlphaCentric Advisors LLC acquired a new stake in Bill.com during Q4, valued at approximately $34,000. Signaturefd LLC increased its position in Bill.com by 208.8% during the third quarter. Signaturefd LLC now owns 176 shares of the company valued at $47,000 after acquiring 119 additional shares in the last quarter. Finally, KB Financial Partners LLC acquired a new stake in Bill.com during Q4 valued at approximately $51,000. Institutional investors hold 95.10% of the company’s shares.

Several equity research analysts have recently released reports on the company. Keefe, Bruyette & Woods assumed coverage on Bill.com in a research note on Friday, January 7. They set an “outperform” rating and a price target of $300.00 for the company. Oppenheimer lowered his price target on Bill.com from $370.00 to $285.00 and set an “outperform” rating for the company in a Friday, Feb. 4 research note. KeyCorp raised its price target on Bill.com from $225.00 to $250.00 and gave the company an “overweight” rating in a Thursday, Feb. 3 research note. Citigroup assumed coverage for Bill.com in a research note on Tuesday, February 1. They set a “buy” rating and a price target of $209.00 for the company. Finally, Zacks Investment Research downgraded Bill.com from a “buy” rating to a “hold” rating in a Wednesday, Feb. 9 research rating. Four research analysts gave the stock a hold rating and fifteen gave the stock a buy rating. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $271.25.

About Bill.com (Get a rating)

Bill.com Holdings, Inc provides cloud-based software that digitizes and automates back-office financial operations for small and medium businesses around the world. It offers an artificial intelligence (AI) enabled financial software platform. The Company provides cloud-based payment products, software as a service, which enable users to automate Accounts Payable and Accounts Receivable transactions, as well as allow users to connect with their vendors and/or or clients to conduct business, manage cash flow, and improve office efficiency.

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