10:20 AM EDT, 09/03/2024 (MT Newswires) -- Bill Holdings ( BILL ) was the stock pick of the week at Smart Insider after a member of the company's board made his first purchase of company stock.

Director Brian Jacobs spent about $1.3 million to buy 25,000 shares at $53.54 apiece on Aug. 28, taking his direct holdings to 224,524 shares or about $12 million, Smart Insider said in a note to clients.

Jacobs made some big sales from 2020 to 2023 at higher prices, with some of the larger ones made indirectly for Emergence Capital Partners, which he founded, according to the note.

Smart Insider said it ranked the stock +N, or notable and positive signal, on Aug. 27 based on Chief Executive Rene Lacerte and Chief Financial Officer John Rettig's respective purchases of $2.1 million and $1 million, which were also their first.

"We now have three insiders, all with a long tenure, who have never bought before and are making confident purchases," said Smart Insider.

Smart Insider upgraded the stock to +1 for strong positive signal.

Price: 53.15, Change: -1.41, Percent Change: -2.58