Verition Fund Management LLC bought a new position in shares of Bill.com Holdings (NYSE:KC) during the second quarter, HoldingsChannel.com reports. The firm bought 7,583 shares of the company’s stock, valued at approximately $239,000.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Tudor Investment Corp Et Al acquired a new position in shares of Bill.com in the 2nd quarter valued at about $1,339,000. Driehaus Capital Management LLC bought a new stake in shares of Bill.com in the 2nd quarter worth approximately $2,282,000. Advisor Group Holdings Inc. purchased a new position in shares of Bill.com in the second quarter worth approximately $63,000. Federated Hermes Inc. purchased a new position in shares of Bill.com in the second quarter worth approximately $1,891,000. Finally, Athanor Capital LP purchased a new position in shares of Bill.com in the second quarter worth approximately $788,000.
KC has been the topic of several analyst reports. Zacks Investment Research downgraded shares of Bill.com from a “buy” rating to a “hold” rating in a research report on Wednesday, August 26th. JPMorgan Chase & Co. started coverage on shares of Bill.com in a research report on Monday, June 8th. They set an “overweight” rating and a $27.00 price objective on the stock. Credit Suisse Group began coverage on shares of Bill.com in a research report on Friday, July 17th. They set an “outperform” rating on the stock. Finally, Goldman Sachs Group began coverage on shares of Bill.com in a research note on Monday, June 29th. They issued a “buy” rating and a $34.00 target price for the company.
Shares of Bill.com stock opened at $36.89 on Wednesday. The business has a fifty day moving average price of $34.01. Bill.com Holdings has a 1-year low of $17.01 and a 1-year high of $42.80.
Bill.com (NYSE:KC) last released its earnings results on Tuesday, August 18th. The company reported ($0.19) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.17) by ($0.02). The company had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.53 billion. Bill.com’s revenue was up 64.1% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.36) EPS.
Kingsoft Cloud Holdings Limited researches, develops, and provides cloud technology and services. The company develops a service system which is based on its cloud storage platform. It offers file sharing and storage service under brand name Kuaipan to enterprises and individual users. The company was founded in 2012 and is based in Cayman Islands.
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