Iridian Asset Management LLC CT Lowers Holdings in BILL Holdings, Inc. (NYSE:BILL)

Iridian Asset Management LLC CT reduced its stake in shares of BILL Holdings, Inc. (NYSE:BILL) by 81.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,705 shares of the company’s stock after selling 240,963 shares during the quarter. BILL comprises approximately 1.2% of Iridian Asset Management LLC CT’s holdings, making the stock its 29th largest position. Iridian Asset Management LLC CT owned about 0.05% of BILL worth $4,549,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. State of Alaska Department of Revenue purchased a new stake in shares of BILL in the fourth quarter worth about $919,000. Crewe Advisors LLC increased its stake in BILL by 129.1% in the 4th quarter. Crewe Advisors LLC now owns 307 shares of the company’s stock worth $26,000 after acquiring an additional 173 shares during the last quarter. Choreo LLC purchased a new stake in shares of BILL during the 4th quarter worth approximately $409,000. Yousif Capital Management LLC bought a new position in shares of BILL during the 4th quarter valued at approximately $2,842,000. Finally, Retirement Systems of Alabama purchased a new position in shares of BILL in the fourth quarter valued at $9,807,000. Institutional investors own 97.99% of the company’s stock.

BILL Stock Down 0.6 %

Shares of BILL opened at $96.43 on Friday. The firm has a fifty day moving average price of $89.50 and a 200-day moving average price of $69.34. The company has a current ratio of 1.53, a quick ratio of 1.53 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $9.98 billion, a P/E ratio of -292.20, a P/E/G ratio of 164.86 and a beta of 1.76. BILL Holdings, Inc. has a 12-month low of $43.11 and a 12-month high of $100.19.

BILL (NYSE:BILL) last released its quarterly earnings data 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 net margin of 0.59% and a return on equity of 1.54%. Equities research analysts expect that BILL Holdings, Inc. will post 0.04 earnings per share for the current year.

Insider Activity at BILL

In related news, Director Alison Wagonfeld sold 779 shares of the company’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $90.00, for a total value of $70,110.00. Following the completion of the sale, the director now directly owns 259 shares of the company’s stock, valued at $23,310. This represents a 75.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 4.20% of the stock is owned by company insiders.

Analyst Ratings Changes

BILL has been the topic of a number of recent research reports. Piper Sandler reaffirmed an “overweight” rating and set a $85.00 price target on shares of BILL in a research note on Friday. Keefe, Bruyette & Woods lowered their price target on shares of BILL from $100.00 to $95.00 and set a “market perform” rating for the company in a report on Monday, January 6th. Needham & Company LLC reiterated a “buy” rating and issued a $100.00 price target on shares of BILL in a research report on Friday. Morgan Stanley upgraded 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. Finally, Oppenheimer raised 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. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $85.00.

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.