EFG Asset Management Americas Corp. cut its stake in Bill.com Holdings, Inc. (NYSE:BILL – Get Rating) by 4.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,149 shares of the company's stock after selling 726 shares during the period. EFG Asset Management Americas Corp.'s holdings in Bill.com were worth $3,436,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in the stock. Geode Capital Management LLC grew its position in shares of Bill.com by 12.8% in the fourth quarter. Geode Capital Management LLC now owns 1,130,264 shares of the company's stock valued at $281,253,000 after purchasing an additional 128,181 shares in the last quarter. 1832 Asset Management L.P. grew its position in shares of Bill.com by 59.6% in the fourth quarter. 1832 Asset Management L.P. now owns 934,700 shares of the company's stock valued at $235,240,000 after purchasing an additional 349,000 shares in the last quarter. TD Asset Management Inc. grew its position in Bill.com by 83.0% in the fourth quarter. TD Asset Management Inc. now owns 821,162 shares of the company's stock worth $204,593,000 after acquiring an additional 372,416 shares during the period. Norges Bank purchased a new position in Bill.com in the fourth quarter worth approximately $185,970,000. Finally, Bank of America Corp DE grew its position in Bill.com by 17.0% in the fourth quarter. Bank of America Corp DE now owns 742,946 shares of the company's stock worth $185,104,000 after acquiring an additional 108,220 shares during the period. 99.01% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Bill.com news, CEO Rene A. Lacerte sold 10,000 shares of the firm's stock in a transaction dated Friday, May 13th. The stock was sold at an average price of $116.72, for a total transaction of $1,167,200.00. Following the transaction, the chief executive officer now owns 78,970 shares of the company's stock, valued at $9,217,378.40. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, insider Bora Chung sold 938 shares of the firm's stock in a transaction dated Tuesday, May 31st. The stock was sold at an average price of $124.84, for a total transaction of $117,099.92. Following the transaction, the insider now owns 2,806 shares of the company's stock, valued at $350,301.04. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Rene A. Lacerte sold 10,000 shares of the firm's stock in a transaction dated Friday, May 13th. The shares were sold at an average price of $116.72, for a total transaction of $1,167,200.00. Following the completion of the sale, the chief executive officer now owns 78,970 shares of the company's stock, valued at approximately $9,217,378.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 49,942 shares of company stock valued at $5,823,789. 5.70% of the stock is currently owned by insiders.

Bill.com Stock Performance

Bill.com (NYSE:BILL – Get Rating) last issued its quarterly earnings data on Thursday, May 5th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.61) by ($0.01). The firm had revenue of $166.90 million for the quarter, compared to analysts' expectations of $157.90 million. Bill.com had a negative return on equity of 5.05% and a negative net margin of 54.96%. The business's revenue for the quarter was up 179.4% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.15) EPS. Analysts predict that Bill.com Holdings, Inc. will post -2.27 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on BILL. Canaccord Genuity Group lowered their price objective on Bill.com from $366.00 to $250.00 in a research report on Friday, May 6th. Credit Suisse Group began coverage on Bill.com in a research report on Friday. They issued an "outperform" rating and a $160.00 price objective for the company. Deutsche Bank Aktiengesellschaft lowered their price objective on Bill.com from $265.00 to $177.00 and set a "buy" rating for the company in a research report on Thursday, July 7th. Wells Fargo & Company began coverage on Bill.com in a research report on Monday, April 4th. They issued an "overweight" rating and a $284.00 price objective for the company. Finally, KeyCorp reduced their price objective on Bill.com from $175.00 to $150.00 and set an "overweight" rating on the stock in a research note on Thursday, July 7th. One equities research analyst has rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $229.05.

Bill.com Profile

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Bill.com Holdings, Inc provides cloud-based software that simplifies, digitizes, and automates back-office financial operations for small and midsize businesses worldwide. It offers artificial intelligence enabled financial software platform that creates seamless connections among users, suppliers, and the clients.

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