Peregrine Capital Management LLC Trims Position in BILL Holdings, Inc. (NYSE:BILL)

Peregrine Capital Management LLC reduced its stake in shares of BILL Holdings, Inc. (NYSE:BILL - Free Report) by 98.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,103 shares of the company's stock after selling 94,284 shares during the quarter. Peregrine Capital Management LLC's holdings in BILL were worth $51,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. New York State Teachers Retirement System increased its position in shares of BILL by 243.8% in the first quarter. New York State Teachers Retirement System now owns 50,200 shares of the company's stock valued at $2,304,000 after acquiring an additional 35,600 shares during the period. Allspring Global Investments Holdings LLC bought a new stake in shares of BILL in the first quarter worth about $570,000. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of BILL by 3,947.7% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 15,098 shares of the company's stock worth $693,000 after purchasing an additional 14,725 shares during the last quarter. WoodTrust Financial Corp increased its holdings in BILL by 123.8% during the 1st quarter. WoodTrust Financial Corp now owns 17,900 shares of the company's stock valued at $821,000 after purchasing an additional 9,900 shares during the period. Finally, Asset Management One Co. Ltd. raised its position in BILL by 145.6% during the 1st quarter. Asset Management One Co. Ltd. now owns 2,203 shares of the company's stock valued at $101,000 after purchasing an additional 1,306 shares during the last quarter. 97.99% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at BILL

In related news, insider Rajesh A. Aji sold 1,780 shares of the stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $45.25, for a total transaction of $80,545.00. Following the sale, the insider directly owned 9,298 shares of the company's stock, valued at $420,734.50. This trade represents a 16.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Germaine Cota sold 1,718 shares of the firm's stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $42.55, for a total transaction of $73,100.90. Following the sale, the senior vice president directly owned 9,512 shares in the company, valued at approximately $404,735.60. The trade was a 15.30% decrease in their position. The disclosure for this sale can be found here. 4.20% of the stock is owned by insiders.

BILL Stock Up 3.3%

BILL stock traded up $1.55 during trading on Friday, hitting $48.11. 1,611,636 shares of the stock traded hands, compared to its average volume of 2,338,963. The stock has a market cap of $4.96 billion, a price-to-earnings ratio of -400.88, a price-to-earnings-growth ratio of 9.91 and a beta of 1.35. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.69 and a quick ratio of 1.69. BILL Holdings, Inc. has a 1 year low of $36.55 and a 1 year high of $100.19. The firm's 50 day moving average is $45.13 and its two-hundred day moving average is $57.94.

BILL (NYSE:BILL - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.50 EPS for the quarter, beating analysts' consensus estimates of $0.37 by $0.13. BILL had a net margin of 2.70% and a return on equity of 1.21%. The firm had revenue of $358.22 million for the quarter, compared to analysts' expectations of $355.85 million. During the same quarter in the prior year, the company posted $0.60 earnings per share. The business's revenue for the quarter was up 10.9% on a year-over-year basis. On average, sell-side analysts anticipate that BILL Holdings, Inc. will post 0.12 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have recently weighed in on BILL. Seaport Res Ptn lowered BILL from a "strong-buy" rating to a "hold" rating in a research report on Thursday, April 17th. Keefe, Bruyette & Woods cut their price target on shares of BILL from $77.00 to $54.00 and set a "market perform" rating on the stock in a report on Monday, March 31st. Mizuho reduced their price objective on shares of BILL from $53.00 to $50.00 and set a "neutral" rating on the stock in a research report on Monday, May 12th. Canaccord Genuity Group dropped their target price on shares of BILL from $105.00 to $75.00 and set a "buy" rating for the company in a research report on Tuesday, May 13th. Finally, KeyCorp cut their target price on shares of BILL from $70.00 to $60.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 30th. 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 stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $62.75.

BILL 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.