Rhumbline Advisers Sells 5,670 Shares of BILL Holdings, Inc. (NYSE:BILL)

Rhumbline Advisers reduced its stake in BILL Holdings, Inc. (NYSE:BILL - Free Report) by 2.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 265,357 shares of the company's stock after selling 5,670 shares during the quarter. Rhumbline Advisers owned approximately 0.26% of BILL worth $12,177,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the company. Groupama Asset Managment grew its position in BILL by 162.8% during the fourth quarter. Groupama Asset Managment now owns 5,650,000 shares of the company's stock valued at $478,611,000 after acquiring an additional 3,500,000 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in BILL by 10.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,879,448 shares of the company's stock valued at $1,091,019,000 after buying an additional 1,241,432 shares during the period. Norges Bank purchased a new position in shares of BILL in the fourth quarter worth about $99,906,000. Invesco Ltd. increased its holdings in shares of BILL by 828.1% in the fourth quarter. Invesco Ltd. now owns 1,301,720 shares of the company's stock worth $110,269,000 after buying an additional 1,161,457 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its stake in shares of BILL by 112.6% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,610,447 shares of the company's stock valued at $136,421,000 after acquiring an additional 852,863 shares during the last quarter. Institutional investors own 97.99% of the company's stock.

Insiders Place Their Bets

In other BILL news, SVP Germaine Cota sold 1,718 shares of the stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $42.55, for a total transaction of $73,100.90. Following the transaction, the senior vice president now owns 9,512 shares in the company, valued at $404,735.60. This trade represents a 15.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 4.20% of the company's stock.

BILL Stock Up 0.3%

Shares of BILL stock traded up $0.12 during trading hours on Thursday, hitting $43.99. 2,029,699 shares of the company were exchanged, compared to its average volume of 2,284,964. 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 business's 50-day simple moving average is $44.12 and its two-hundred day simple moving average is $63.09. BILL Holdings, Inc. has a one year low of $36.55 and a one year high of $100.19. The stock has a market capitalization of $4.53 billion, a price-to-earnings ratio of -4,399.00, a P/E/G ratio of 29.46 and a beta of 1.36.

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

Wall Street Analyst Weigh In

BILL has been the topic of several research analyst reports. Seaport Res Ptn cut shares of BILL from a "strong-buy" rating to a "hold" rating in a research report on Thursday, April 17th. BTIG Research initiated coverage on shares of BILL in a report on Wednesday, April 30th. They set a "buy" rating and a $60.00 target price for the company. Oppenheimer boosted their target price on BILL from $50.00 to $55.00 and gave the stock an "outperform" rating in a report on Friday, May 9th. UBS Group upped their price target on shares of BILL from $60.00 to $65.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Finally, Piper Sandler decreased their target price on shares of BILL from $85.00 to $70.00 and set an "overweight" rating for the company in a report on Thursday, April 10th. One analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $62.75.

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.