BILL Holdings, Inc. $BILL Shares Sold by Edgestream Partners L.P.

Key Points

• Edgestream Partners cut its BILL Holdings stake by 65.6% in the first quarter, selling 22,100 shares and retaining 11,576 shares valued at approximately $443,000. Institutional investors collectively own 97.99% of BILL.
• Analyst sentiment is mixed, with the stock carrying a consensus rating of “Hold” and an average price target of $55.95. Twelve analysts rate BILL a Buy, 10 recommend Hold, and one recommends Sell.
• BILL’s latest quarterly results exceeded expectations: earnings were $0.68 per share versus the $0.55 estimate, while revenue reached $406.56 million and grew 13.5% year over year.

Edgestream Partners L.P. lessened its holdings in shares of BILL Holdings, Inc. (NYSE:BILL - Free Report) by 65.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,576 shares of the company's stock after selling 22,100 shares during the period. Edgestream Partners L.P.'s holdings in BILL were worth $443,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd boosted its stake in BILL by 972.0% during the third quarter. Caitong International Asset Management Co. Ltd now owns 536 shares of the company's stock worth $28,000 after buying an additional 486 shares during the last quarter. Aster Capital Management DIFC Ltd purchased a new position in shares of BILL during the 4th quarter worth $28,000. State of Wyoming acquired a new position in shares of BILL during the 1st quarter valued at about $32,000. Rockefeller Capital Management L.P. grew its holdings in shares of BILL by 173.8% in the fourth quarter. Rockefeller Capital Management L.P. now owns 712 shares of the company's stock valued at $39,000 after purchasing an additional 452 shares during the period. Finally, CWM LLC increased its position in BILL by 1,000.0% during the fourth quarter. CWM LLC now owns 803 shares of the company's stock worth $44,000 after purchasing an additional 730 shares during the last quarter. Institutional investors and hedge funds own 97.99% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on BILL. Wall Street Zen downgraded shares of BILL from a "buy" rating to a "hold" rating in a research note on Monday, July 13th. Morgan Stanley set a $55.00 price target on shares of BILL in a report on Friday, May 8th. Zacks Research cut BILL from a "strong-buy" rating to a "hold" rating in a report on Monday, July 20th. Oppenheimer set a $55.00 price objective on BILL and gave the stock an "outperform" rating in a research report on Friday, May 8th. Finally, Keefe, Bruyette & Woods lifted their target price on BILL from $42.00 to $49.00 and gave the company a "market perform" rating in a research report on Tuesday, May 12th. Twelve research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $55.95.

BILL Trading Down 0.4%

BILL opened at $48.36 on Thursday. The company has a market cap of $4.82 billion, a P/E ratio of -4,830.77, a PEG ratio of 1.09 and a beta of 1.13. BILL Holdings, Inc. has a one year low of $31.41 and a one year high of $57.21. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.66 and a current ratio of 1.66. The business's 50-day simple moving average is $39.13 and its 200-day simple moving average is $40.38.

BILL (NYSE:BILL - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.68 earnings per share for the quarter, topping analysts' consensus estimates of $0.55 by $0.13. The company had revenue of $406.56 million for the quarter, compared to analysts' expectations of $403.76 million. BILL had a net margin of 0.01% and a return on equity of 2.40%. The firm's revenue for the quarter was up 13.5% on a year-over-year basis. During the same quarter last year, the company earned $0.50 earnings per share. As a group, equities research analysts expect that BILL Holdings, Inc. will post 0.95 EPS for the current fiscal year.

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. It also offers onboarding implementation support, and ongoing support and training services.

Want to see what other hedge funds are holding BILL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BILL Holdings, Inc. (NYSE:BILL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source