Formula Growth Ltd. Lowers Holdings in BILL Holdings, Inc. (NYSE:BILL)

Formula Growth Ltd. lowered its stake in BILL Holdings, Inc. (NYSE:BILL - Free Report) by 59.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 46,000 shares of the company's stock after selling 68,000 shares during the period. BILL makes up approximately 1.3% of Formula Growth Ltd.'s holdings, making the stock its 26th largest holding. Formula Growth Ltd.'s holdings in BILL were worth $3,897,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Legato Capital Management LLC bought a new position in shares of BILL during the fourth quarter valued at about $828,000. Choreo LLC purchased a new position in shares of BILL during the fourth quarter valued at approximately $409,000. Rhumbline Advisers raised its holdings in shares of BILL by 153.7% during the fourth quarter. Rhumbline Advisers now owns 271,027 shares of the company's stock valued at $22,959,000 after acquiring an additional 164,182 shares in the last quarter. Chicago Partners Investment Group LLC lifted its stake in BILL by 29.4% in the fourth quarter. Chicago Partners Investment Group LLC now owns 18,705 shares of the company's stock worth $1,543,000 after acquiring an additional 4,248 shares during the period. Finally, State of Alaska Department of Revenue bought a new stake in BILL in the fourth quarter valued at $919,000. Institutional investors own 97.99% of the company's stock.

BILL Stock Performance

BILL traded up $1.90 during midday trading on Thursday, reaching $44.47. The company had a trading volume of 749,923 shares, compared to its average volume of 2,986,521. The business has a 50-day moving average of $46.92 and a two-hundred day moving average of $68.14. 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 Holdings, Inc. has a 1 year low of $36.55 and a 1 year high of $100.19. The company has a market cap of $4.53 billion, a P/E ratio of -4,456.00, a P/E/G ratio of 29.46 and a beta of 1.88.

BILL (NYSE:BILL - Get Free Report) last released its earnings results on Thursday, February 6th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.38). BILL had a return on equity of 1.53% and a net margin of 5.90%. As a group, equities research analysts predict that BILL Holdings, Inc. will post 0.12 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have weighed in on BILL. Needham & Company LLC reiterated a "buy" rating and set a $100.00 target price on shares of BILL in a report on Monday, March 17th. Oppenheimer lowered their price target on BILL from $110.00 to $90.00 and set an "outperform" rating for the company in a research report on Friday, February 7th. The Goldman Sachs Group reduced their price target on shares of BILL from $90.00 to $60.00 and set a "buy" rating for the company in a research report on Wednesday, April 2nd. Wells Fargo & Company reduced their price objective on BILL from $57.00 to $43.00 and set an "underweight" rating for the company in a report on Tuesday. Finally, Robert W. Baird dropped their price target on shares of BILL from $82.00 to $55.00 and set a "neutral" rating on the stock in a report on Friday, April 4th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $70.94.

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.