Portolan Capital Management LLC Invests $8.36 Million in BILL Holdings, Inc. (NYSE:BILL)

Portolan Capital Management LLC bought a new position in BILL Holdings, Inc. (NYSE:BILL - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 98,676 shares of the company's stock, valued at approximately $8,359,000. Portolan Capital Management LLC owned approximately 0.10% of BILL at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of BILL. HighTower Advisors LLC grew its position in BILL by 7.1% during the 3rd quarter. HighTower Advisors LLC now owns 7,784 shares of the company's stock worth $411,000 after acquiring an additional 513 shares during the last quarter. National Bank of Canada FI purchased a new stake in BILL in the third quarter worth $1,535,000. Versant Capital Management Inc grew its position in shares of BILL by 26.7% in the 4th quarter. Versant Capital Management Inc now owns 1,615 shares of the company's stock worth $137,000 after buying an additional 340 shares during the period. GAMMA Investing LLC increased its stake in shares of BILL by 74.9% in the 4th quarter. GAMMA Investing LLC now owns 306 shares of the company's stock worth $26,000 after acquiring an additional 131 shares in the last quarter. Finally, Everence Capital Management Inc. purchased a new position in BILL during the 4th quarter valued at about $264,000. 97.99% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on BILL shares. Wells Fargo & Company cut their price objective on shares of BILL from $65.00 to $57.00 and set an "underweight" rating on the stock in a report on Friday, February 7th. Piper Sandler reduced their price objective on BILL from $85.00 to $70.00 and set an "overweight" rating for the company in a research report on Thursday, April 10th. Robert W. Baird dropped their target price on BILL from $82.00 to $55.00 and set a "neutral" rating on the stock in a report on Friday, April 4th. Seaport Res Ptn downgraded BILL from a "strong-buy" rating to a "hold" rating in a report on Thursday. Finally, Keefe, Bruyette & Woods dropped their price target on shares of BILL from $77.00 to $54.00 and set a "market perform" rating on the stock in a research note on Monday, March 31st. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $71.72.

BILL Stock Performance

BILL traded down $0.28 during mid-day trading on Friday, reaching $40.63. 1,068,429 shares of the company traded hands, compared to its average volume of 2,277,613. BILL Holdings, Inc. has a 52-week low of $36.55 and a 52-week high of $100.19. The company's fifty day moving average price is $48.09 and its 200-day moving average price is $68.39. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $4.14 billion, a P/E ratio of -4,063.40, a P/E/G ratio of 29.46 and a beta of 1.88.

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

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.