Plus500 (LON:PLUS) Insider Elad Even-Chen Sells 940,000 Shares

Plus500 Ltd. (LON:PLUS) insider Elad Even-Chen sold 940,000 shares of the firm’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of GBX 4,478, for a total value of £42,093,200.

Plus500 Price Performance

Shares of PLUS stock opened at GBX 4,490.90 on Wednesday. The firm has a market cap of £3.16 billion, a PE ratio of 12.47, a price-to-earnings-growth ratio of 0.24 and a beta of 0.20. The company has a 50-day moving average of GBX 3,969.33 and a two-hundred day moving average of GBX 3,441.33. Plus500 Ltd. has a 1-year low of GBX 2,464 and a 1-year high of GBX 4,974.

Plus500 declared that its Board of Directors has approved a stock repurchase program on Monday, February 16th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 3% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

Separately, Liberum Capital reaffirmed a “buy” rating and issued a GBX 3,750 price objective on shares of Plus500 in a research note on Tuesday, November 18th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of GBX 3,304.67.

About Plus500

Plus500 Ltd., a fintech company, operates technology-based trading platforms in Europe, the United Kingdom, Australia, and internationally. The company develops and operates an online trading platform, including over the counter (OTC) products comprising the contracts for difference (CFDs) sector enabling its international customer base of individual customers to trade CFDs on underlying financial instruments comprising shares, indices, commodities, options, ETFs, foreign exchange, and cryptocurrencies internationally.