Clearline Capital LP Sells 261,940 Shares of BILL Holdings, Inc. (NYSE:BILL)

Clearline Capital LP decreased its stake in shares of BILL Holdings, Inc. (NYSE:BILL) by 76.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 82,811 shares of the company’s stock after selling 261,940 shares during the period. Clearline Capital LP’s holdings in BILL were worth $4,369,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Brooklyn Investment Group bought a new stake in shares of BILL in the third quarter worth $28,000. Versant Capital Management Inc purchased a new position in shares of BILL in the second quarter worth approximately $46,000. Advisors Asset Management Inc. grew its position in BILL by 30.8% during the third quarter. Advisors Asset Management Inc. now owns 1,101 shares of the company’s stock valued at $58,000 after buying an additional 259 shares during the period. Venturi Wealth Management LLC increased its holdings in BILL by 377.8% during the third quarter. Venturi Wealth Management LLC now owns 1,290 shares of the company’s stock valued at $68,000 after buying an additional 1,020 shares during the last quarter. Finally, Covestor Ltd increased its holdings in BILL by 15.1% during the third quarter. Covestor Ltd now owns 1,897 shares of the company’s stock valued at $100,000 after buying an additional 249 shares during the last quarter. Hedge funds and other institutional investors own 97.99% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Morgan Stanley upped their price objective on BILL from $58.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 26th. Canaccord Genuity Group reissued a “buy” rating and issued a $100.00 target price on shares of BILL in a report on Friday, August 23rd. Piper Sandler upped their price target on shares of BILL from $60.00 to $85.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Evercore ISI dropped their target price on shares of BILL from $70.00 to $60.00 and set an “in-line” rating for the company in a report on Friday, August 23rd. Finally, Mizuho lowered their price objective on BILL from $60.00 to $52.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 28th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, BILL currently has a consensus rating of “Hold” and a consensus price target of $75.78.

BILL Trading Up 0.5 %

Shares of BILL stock opened at $90.22 on Monday. BILL Holdings, Inc. has a twelve month low of $43.11 and a twelve month high of $94.28. The firm’s 50-day moving average price is $66.13 and its 200 day moving average price is $56.61. 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 $9.34 billion, a PE ratio of -273.39 and a beta of 1.59.

Insider Transactions at BILL

In other news, SVP Germaine Cota sold 1,525 shares of BILL stock in a transaction on Friday, November 8th. The stock was sold at an average price of $77.99, for a total value of $118,934.75. Following the completion of the sale, the senior vice president now directly owns 5,348 shares of the company’s stock, valued at approximately $417,090.52. The trade was a 22.19 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Alison Wagonfeld sold 779 shares of the business’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $90.00, for a total transaction of $70,110.00. Following the sale, the director now owns 259 shares in the company, valued at $23,310. This trade represents a 75.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,823 shares of company stock valued at $218,887 over the last 90 days. 4.20% of the stock is currently owned by corporate insiders.

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.