Voloridge Investment Management LLC Sells 560,633 Shares of BILL Holdings, Inc. (NYSE:BILL)

Voloridge Investment Management LLC cut its holdings in shares of BILL Holdings, Inc. (NYSE:BILL - Free Report) by 74.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 192,721 shares of the company's stock after selling 560,633 shares during the period. Voloridge Investment Management LLC owned about 0.19% of BILL worth $16,325,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Crewe Advisors LLC raised its position in BILL by 129.1% during the 4th quarter. Crewe Advisors LLC now owns 307 shares of the company's stock worth $26,000 after purchasing an additional 173 shares during the last quarter. Fifth Third Bancorp acquired a new stake in shares of BILL in the 4th quarter valued at about $27,000. CoreCap Advisors LLC bought a new position in BILL in the 4th quarter valued at about $30,000. Coppell Advisory Solutions LLC lifted its position in BILL by 202.5% in the 4th quarter. Coppell Advisory Solutions LLC now owns 369 shares of the company's stock valued at $32,000 after acquiring an additional 247 shares in the last quarter. Finally, Global Retirement Partners LLC lifted its position in BILL by 12,566.7% in the 4th quarter. Global Retirement Partners LLC now owns 380 shares of the company's stock valued at $32,000 after acquiring an additional 377 shares in the last quarter. 97.99% of the stock is currently owned by institutional investors.

BILL Stock Down 2.5%

Shares of NYSE:BILL traded down $1.13 during trading on Thursday, reaching $43.35. 512,478 shares of the stock traded hands, compared to its average volume of 2,287,768. The stock has a 50-day moving average of $44.49 and a two-hundred day moving average of $66.05. BILL Holdings, Inc. has a 52-week low of $36.55 and a 52-week high of $100.19. 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 stock has a market cap of $4.47 billion, a P/E ratio of -4,328.70, a price-to-earnings-growth ratio of 29.46 and a beta of 1.44.

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

Analyst Ratings Changes

BILL has been the topic of several recent analyst reports. Morgan Stanley dropped their target price on shares of BILL from $65.00 to $60.00 and set an "overweight" rating on the stock in a research report on Friday, May 9th. Robert W. Baird reduced their price target on shares of BILL from $82.00 to $55.00 and set a "neutral" rating for the company in a research report on Friday, April 4th. Piper Sandler cut their target price on shares of BILL from $85.00 to $70.00 and set an "overweight" rating for the company in a research report on Thursday, April 10th. Wells Fargo & Company decreased their target price on shares of BILL from $43.00 to $40.00 and set an "underweight" rating on the stock in a research note on Friday, May 9th. Finally, Needham & Company LLC lowered their price objective on shares of BILL from $100.00 to $75.00 and set a "buy" rating for the company in a research note on Friday, May 9th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $63.84.

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.