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Bill.com Holdings (BILL) Declined by 20% in Q3

Soumya Eswaran
·2 分鐘文章

TimesSquare Capital Management, an equity investment management company, released its “U.S. Concentrated Growth Strategy” third-quarter investor letter. A copy of the same can be downloaded here. In the third quarter, the strategy returned -0.72% (net), compared to a -3.37% return for the Russell 3000 Growth Index. The energy sector remained relatively strong in the quarter while Real Estate and Consumer Staples especially detracted from performance. In addition, please check the fund’s top five holdings to know its best picks in 2022.

TimesSquare Capital highlighted stocks like Bill.com Holdings, Inc. (NYSE:BILL) in the Q3 2022 investor letter. Headquartered in San Jose, California, Bill.com Holdings, Inc. (NYSE:BILL) is a cloud-based software provider. On December 26, 2022, Bill.com Holdings, Inc. (NYSE:BILL) stock closed at $103.74 per share. One-month return of Bill.com Holdings, Inc. (NYSE:BILL) was -14.60% and its shares lost 59.06% of their value over the last 52 weeks. Bill.com Holdings, Inc. (NYSE:BILL) has a market capitalization of $10.962 billion.

TimesSquare Capital made the following comment about Bill.com Holdings, Inc. (NYSE:BILL) in its Q3 2022 investor letter:

"Bill.com Holdings, Inc. (NYSE:BILL) offers cloud-based software that simplifies, digitizes, and automates back-office functions for small and mid-sized businesses. The company has indicated that customer spending softened a bit in recent months and that has been factored into forward guidance. We decided to sell out of the position, which had declined by -20% while it was held in the quarter."

Creative Collage Of Business Team Working On Project And Stock Markets Data On Trasparent Screen, Financial Statistics Layered Over Man Using Laptop For Trading On Forex, Panorama

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Bill.com Holdings, Inc. (NYSE:BILL) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 70 hedge fund portfolios held Bill.com Holdings, Inc. (NYSE:BILL) at the end of the third quarter, which was 46 in the previous quarter.

We discussed Bill.com Holdings, Inc. (NYSE:BILL) in another article and shared the best IPO stocks to buy heading into 2023. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.

 

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Disclosure: None. This article is originally published at Insider Monkey.