Geode Capital Management LLC Sells 53,928 Shares of BILL Holdings, Inc. (NYSE:BILL)

Geode Capital Management LLC lowered its stake in BILL Holdings, Inc. (NYSE:BILL - Free Report) by 3.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,503,287 shares of the company's stock after selling 53,928 shares during the period. Geode Capital Management LLC owned 1.45% of BILL worth $79,336,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Abdiel Capital Advisors LP lifted its stake in shares of BILL by 48.2% in the 3rd quarter. Abdiel Capital Advisors LP now owns 5,121,139 shares of the company's stock valued at $270,191,000 after purchasing an additional 1,666,316 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of BILL by 70.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,388,441 shares of the company's stock worth $73,049,000 after acquiring an additional 575,084 shares in the last quarter. Two Sigma Advisers LP lifted its position in BILL by 87.0% during the 3rd quarter. Two Sigma Advisers LP now owns 690,800 shares of the company's stock valued at $36,447,000 after acquiring an additional 321,400 shares during the period. Assenagon Asset Management S.A. boosted its stake in BILL by 297.7% during the third quarter. Assenagon Asset Management S.A. now owns 380,640 shares of the company's stock worth $20,083,000 after acquiring an additional 284,935 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in BILL by 45.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 895,833 shares of the company's stock worth $47,264,000 after purchasing an additional 279,256 shares during the period. 97.99% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at BILL

In related news, SVP Germaine Cota sold 1,525 shares of BILL stock in a transaction on Friday, November 8th. The shares were sold at an average price of $77.99, for a total transaction of $118,934.75. Following the transaction, the senior vice president now owns 5,348 shares in the company, valued at approximately $417,090.52. The trade was a 22.19 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Alison Wagonfeld sold 519 shares of the stock in a transaction on Monday, October 21st. The stock was sold at an average price of $57.50, for a total value of $29,842.50. Following the completion of the sale, the director now owns 1,038 shares of the company's stock, valued at $59,685. The trade was a 33.33 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,823 shares of company stock valued at $218,887. Company insiders own 4.20% of the company's stock.

BILL Trading Up 1.2 %

NYSE:BILL opened at $89.52 on Friday. BILL Holdings, Inc. has a one year low of $43.11 and a one year high of $97.86. The business has a fifty day moving average price of $77.11 and a 200-day moving average price of $60.31. The firm has a market capitalization of $9.27 billion, a price-to-earnings ratio of -271.27 and a beta of 1.72. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.53 and a quick ratio of 1.53.

Analysts Set New Price Targets

Several research firms have recently issued reports on BILL. Keefe, Bruyette & Woods lifted their target price on shares of BILL from $75.00 to $100.00 and gave the company a "market perform" rating in a report on Monday, December 9th. Oppenheimer lifted their price objective on BILL from $70.00 to $83.00 and gave the company an "outperform" rating in a research note on Friday, November 8th. KeyCorp raised BILL from a "sector weight" rating to an "overweight" rating and set a $115.00 target price on the stock in a research note on Wednesday. The Goldman Sachs Group raised their price target on BILL from $77.00 to $96.00 and gave the company a "neutral" rating in a report on Monday, December 2nd. Finally, Evercore ISI dropped their price target on shares of BILL from $70.00 to $60.00 and set an "in-line" rating on the stock in a research note on Friday, August 23rd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $83.79.

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.