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

Voloridge Investment Management LLC reduced its stake in BILL Holdings, Inc. (NYSE:BILL - Free Report) by 74.4% during the fourth quarter, according to the company in its most recent 13F filing with the 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 approximately 0.19% of BILL worth $16,325,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Groupama Asset Managment grew its holdings in shares of BILL by 162.8% in the fourth quarter. Groupama Asset Managment now owns 5,650,000 shares of the company's stock valued at $478,611,000 after purchasing an additional 3,500,000 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of BILL by 10.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 12,879,448 shares of the company's stock worth $1,091,019,000 after buying an additional 1,241,432 shares in the last quarter. Norges Bank bought a new stake in shares of BILL in the 4th quarter worth about $99,906,000. Invesco Ltd. raised its position in shares of BILL by 828.1% during the 4th quarter. Invesco Ltd. now owns 1,301,720 shares of the company's stock valued at $110,269,000 after buying an additional 1,161,457 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its holdings 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. 97.99% of the stock is currently owned by institutional investors.

BILL Stock Down 1.8%

Shares of BILL stock traded down $0.80 on Wednesday, hitting $44.40. The stock had a trading volume of 2,166,127 shares, compared to its average volume of 2,290,136. BILL Holdings, Inc. has a one year low of $36.55 and a one year high of $100.19. The business has a 50 day moving average price of $44.56 and a 200 day moving average price of $66.20. The company has a market cap of $4.57 billion, a PE ratio of -4,440.00, a P/E/G ratio of 29.46 and a beta of 1.44. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.44.

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 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 business had revenue of $358.22 million during the quarter, compared to analyst estimates of $355.85 million. During the same quarter in the previous year, the business posted $0.60 EPS. The company's quarterly revenue was up 10.9% compared to the same quarter last year. Research analysts anticipate that BILL Holdings, Inc. will post 0.12 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. KeyCorp reduced their price objective on BILL from $70.00 to $60.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 30th. UBS Group increased their price target on BILL from $60.00 to $65.00 and gave the company a "buy" rating in a report on Friday, May 9th. Citigroup dropped their price objective on shares of BILL from $88.00 to $67.00 and set a "buy" rating for the company in a research note on Thursday, May 22nd. Wells Fargo & Company cut their price objective on shares of BILL from $43.00 to $40.00 and set an "underweight" rating on the stock in a research report on Friday, May 9th. Finally, Keefe, Bruyette & Woods lowered their target price on shares of BILL from $77.00 to $54.00 and set a "market perform" rating for the company in a report on Monday, March 31st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target 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.