Handelsbanken Fonder AB Lowers Stake in BILL Holdings, Inc. (NYSE:BILL)

Handelsbanken Fonder AB lowered its position in shares of BILL Holdings, Inc. (NYSE:BILL) by 4.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 25,956 shares of the company’s stock after selling 1,200 shares during the quarter. Handelsbanken Fonder AB’s holdings in BILL were worth $2,199,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the company. Abdiel Capital Advisors LP lifted its holdings in BILL by 48.2% during the third 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 in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of BILL by 45.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 895,833 shares of the company’s stock valued at $47,264,000 after buying an additional 279,256 shares during the last quarter. Two Sigma Advisers LP raised its position in shares of BILL by 87.0% during the third quarter. Two Sigma Advisers LP now owns 690,800 shares of the company’s stock valued at $36,447,000 after buying an additional 321,400 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of BILL by 5,201.3% during the fourth quarter. Principal Financial Group Inc. now owns 391,604 shares of the company’s stock valued at $33,173,000 after buying an additional 384,217 shares during the last quarter. Finally, Iridian Asset Management LLC CT raised its position in shares of BILL by 26.9% during the third quarter. Iridian Asset Management LLC CT now owns 294,668 shares of the company’s stock valued at $15,547,000 after buying an additional 62,499 shares during the last quarter. Hedge funds and other institutional investors own 97.99% of the company’s stock.

BILL Trading Up 0.9 %

BILL stock opened at $53.23 on Tuesday. 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 twelve month low of $43.11 and a twelve month high of $100.19. The stock has a market capitalization of $5.43 billion, a price-to-earnings ratio of -5,322.60, a price-to-earnings-growth ratio of 31.59 and a beta of 1.76. The firm’s fifty day simple moving average is $81.89 and its two-hundred day simple moving average is $70.44.

BILL (NYSE:BILL) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.38). BILL had a net margin of 5.90% and a return on equity of 1.53%. As a group, analysts anticipate that BILL Holdings, Inc. will post 0.12 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on BILL. Mizuho lifted their price objective on shares of BILL from $64.00 to $75.00 and gave the company a “neutral” rating in a research report on Friday, December 13th. Morgan Stanley upgraded shares of BILL from an “equal weight” rating to an “overweight” rating and set a $95.00 price objective on the stock in a research report on Thursday, January 16th. Piper Sandler reiterated an “overweight” rating and set a $85.00 price objective on shares of BILL in a research report on Friday, February 7th. Needham & Company LLC reiterated a “buy” rating and set a $100.00 price objective on shares of BILL in a research report on Friday, February 7th. Finally, Wells Fargo & Company reduced their price objective on shares of BILL from $65.00 to $57.00 and set an “underweight” rating on the stock in a research report on Friday, February 7th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $81.72.

About BILL

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.