Rene Lacerte, CEO of Bill Holdings (BILL), recently bought 42,248 shares. The buy increased his stake by 2%, and came to a total cost of $2.095 million. He was joined by the company CFO, who bought 21,124 shares, paying just over $1.04 million.
A company director also bought 25,000 shares the day after, shelling out $1.34 million. These marks the first insider buys at the company since November 2023. Otherwise, company insiders have generally been regular and steady sellers of shares.
Overall, Bill Holdings insiders own 3% of shares.
The small business financial platform company is down nearly 50% over the past year. The space is highly competitive, and Bill has struggled to gain market share.
While unprofitable over the past year, Bill did manage to increase its revenues by 16%, and further increases could allow the company to flip to profitability.
Action to take: Shares have started to trend higher after hitting a 52-week low in August. Combined with improving profitability, it’s likely that Bill shares could continue to trend higher in the months ahead. That makes shares a speculative buy based on their current momentum.
For traders, the November $60 calls have significant activity behind them lately. Last trading for about $4.15, the calls could see mid-to-high double-digit returns or better on a further rally for shares.
Disclosure: The author of this article has no position in the company mentioned here, but may trade after the next 72 hours. The author receives no compensation from any company mentioned in this article.