Light Street Capital Management LLC Sells 220,015 Shares of BILL Holdings, Inc. (NYSE:BILL)

Light Street Capital Management LLC reduced its holdings in shares of BILL Holdings, Inc. (NYSE:BILL - Free Report) by 58.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 153,351 shares of the company's stock after selling 220,015 shares during the period. BILL comprises 2.4% of Light Street Capital Management LLC's portfolio, making the stock its 16th largest holding. Light Street Capital Management LLC owned 0.15% of BILL worth $12,990,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in BILL. GAMMA Investing LLC grew its stake in shares of BILL by 74.9% during the 4th quarter. GAMMA Investing LLC now owns 306 shares of the company's stock valued at $26,000 after acquiring an additional 131 shares during the period. Crewe Advisors LLC lifted its holdings in BILL by 129.1% during the fourth quarter. Crewe Advisors LLC now owns 307 shares of the company's stock valued at $26,000 after purchasing an additional 173 shares in the last quarter. Fifth Third Bancorp purchased a new position in BILL during the fourth quarter valued at approximately $27,000. CoreCap Advisors LLC bought a new position in shares of BILL in the fourth quarter worth approximately $30,000. Finally, Global Retirement Partners LLC increased its stake in shares of BILL by 12,566.7% in the fourth quarter. Global Retirement Partners LLC now owns 380 shares of the company's stock worth $32,000 after purchasing an additional 377 shares in the last quarter. 97.99% of the stock is currently owned by institutional investors.

BILL Price Performance

Shares of BILL traded down $1.09 during mid-day trading on Thursday, hitting $46.94. 1,776,743 shares of the stock were exchanged, compared to its average volume of 2,284,767. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.66 and a current ratio of 1.66. The company has a market cap of $4.79 billion, a PE ratio of -4,694.00, a price-to-earnings-growth ratio of 29.46 and a beta of 1.44. BILL Holdings, Inc. has a 52-week low of $36.55 and a 52-week high of $100.19. The firm has a 50-day moving average of $44.66 and a two-hundred day moving average of $67.15.

BILL (NYSE:BILL - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.13. The company had revenue of $358.22 million for the quarter, compared to analysts' expectations of $355.85 million. BILL had a net margin of 5.90% and a return on equity of 1.53%. BILL's quarterly revenue was up 10.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.60 earnings per share. On average, equities analysts predict that BILL Holdings, Inc. will post 0.12 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on BILL shares. Oppenheimer lifted their target price on shares of BILL from $50.00 to $55.00 and gave the company an "outperform" rating in a research note on Friday, May 9th. Wells Fargo & Company lowered their price objective on BILL from $43.00 to $40.00 and set an "underweight" rating on the stock in a research report on Friday, May 9th. Needham & Company LLC cut their target price on BILL from $100.00 to $75.00 and set a "buy" rating for the company in a research report on Friday, May 9th. Keefe, Bruyette & Woods decreased their target price on BILL from $77.00 to $54.00 and set a "market perform" rating on the stock in a research note on Monday, March 31st. Finally, Mizuho dropped their price target on BILL from $53.00 to $50.00 and set a "neutral" rating for the company in a research note on Monday. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $63.67.

About BILL

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.