Insider buys and a $300M buyback boost BILL stock, signaling confidence after a rough patch.
Buybacks
August 31, 2024
BILL.com (BILL), known for its automated accounting for small and medium businesses, hit a rough patch after its boom in 2020 and 2021, but things are turning around. Yesterday, the CEO and CFO, who’ve been selling shares for years, bought $3 million worth at the current price—a big confidence boost from the top.
BILL also approved a $300 million stock buyback, catching analysts' attention and leading to price targets of $60-90 per share. Their latest earnings were strong, with revenue up 22% for the year and 16% for the quarter. With the stock rising from a solid $50 support level, it’s one to keep an eye on.
LevelFields sent an alert with this information on August 22nd to LevelFields premium subscribers. BILL is up 10% since then.
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