Benzinga | Sep 3, 2020 03:44PM EDT

Why Bill.com's Stock Is Trading Lower Today

Bill.com (NYSE:BILL) shares are trading lower on Thursday after a company director sold 4 million shares at $96.37 per share.

The weakness is also potentially related to overall profit-taking in the tech sector following its recent strength.

Bill.com provides cloud-based software that digitizes and automates back-office financial operations for small and midsize businesses worldwide. It offers an artificial-intelligence (AI)-enabled financial software platform.

Bill.com shares were down 9.99% at $90.01 at the time of publication on Thursday. The stock has a 52-week high of $107.41 and a 52-week low of $23.61.