Sumitomo Mitsui Trust Holdings Inc. Decreases Stake in BILL Holdings, Inc. (NYSE:BILL)

Sumitomo Mitsui Trust Holdings Inc. reduced its stake in shares of BILL Holdings, Inc. (NYSE:BILL) by 5.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 617,534 shares of the company’s stock after selling 36,745 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.58% of BILL worth $50,385,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. WCM Investment Management LLC boosted its position in shares of BILL by 23.1% during the 4th quarter. WCM Investment Management LLC now owns 407,226 shares of the company’s stock worth $33,934,000 after purchasing an additional 76,436 shares in the last quarter. EMC Capital Management purchased a new stake in shares of BILL during the 4th quarter worth $163,000. Valeo Financial Advisors LLC boosted its position in shares of BILL by 84.8% during the 4th quarter. Valeo Financial Advisors LLC now owns 4,250 shares of the company’s stock worth $347,000 after purchasing an additional 1,950 shares in the last quarter. Iridian Asset Management LLC CT boosted its position in shares of BILL by 86.9% during the 4th quarter. Iridian Asset Management LLC CT now owns 59,286 shares of the company’s stock worth $4,837,000 after purchasing an additional 27,572 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in shares of BILL by 3.5% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 217,747 shares of the company’s stock worth $17,926,000 after buying an additional 7,443 shares in the last quarter. 97.99% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on BILL. Needham & Company LLC reiterated a “buy” rating and issued a $100.00 price objective on shares of BILL in a research report on Friday, February 9th. Piper Sandler decreased their price objective on shares of BILL from $95.00 to $77.00 and set an “overweight” rating on the stock in a research report on Friday, April 12th. Citigroup boosted their price objective on shares of BILL from $85.00 to $86.00 and gave the stock a “buy” rating in a research report on Monday, February 12th. Wells Fargo & Company reiterated an “underweight” rating and issued a $60.00 price objective (down from $70.00) on shares of BILL in a research report on Monday, April 1st. Finally, JPMorgan Chase & Co. decreased their price objective on shares of BILL from $93.00 to $90.00 and set an “overweight” rating on the stock in a research report on Friday, February 9th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, BILL has a consensus rating of “Moderate Buy” and a consensus price target of $105.76.

Insider Activity

In other news, SVP Germaine Cota sold 920 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $65.34, for a total transaction of $60,112.80. Following the completion of the transaction, the senior vice president now owns 5,093 shares of the company’s stock, valued at approximately $332,776.62. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 3.80% of the company’s stock.

BILL Trading Down 2.3 %

NYSE BILL opened at $59.61 on Friday. BILL Holdings, Inc. has a 12 month low of $51.94 and a 12 month high of $139.50. The company has a 50-day moving average of $64.57 and a 200-day moving average of $74.35. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.69 and a quick ratio of 1.69. The company has a market cap of $6.27 billion, a P/E ratio of -55.19, a P/E/G ratio of 84.01 and a beta of 1.66.

BILL (NYSE:BILL) last posted its quarterly earnings data on Thursday, February 8th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.26. BILL had a negative net margin of 9.67% and a positive return on equity of 0.29%. The company had revenue of $318.50 million during the quarter, compared to the consensus estimate of $296.62 million. As a group, equities analysts predict that BILL Holdings, Inc. will post 0.03 earnings per share for the current year.

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.