Plexus Corp (NASDAQ:PLXS) CEO Todd P. Kelsey recently sold a significant number of company shares, according to recent filings. The transactions, which took place between April 29 and May 1, involved the sale of Plexus stock at prices ranging from $102.10 to $103.00 per share, with a total value exceeding $436,000.
The series of sales began on April 29, with Kelsey selling 1,000 shares at a weighted average price slightly above $102.10. The following day, another 1,000 shares were sold at a price of $102.80. On May 1, the CEO sold 2,000 shares at $100.17 and an additional 2,248 shares at a flat rate of $103.00. These sales were part of a pre-planned trading arrangement, known as a Rule 10b5-1 plan, which was adopted on May 11 of the previous year.
After these transactions, Kelsey's holdings in Plexus decreased, but he still retains a significant number of shares in the company. Plexus Corp., headquartered in Neenah, Wisconsin, is known for its expertise in the printed circuit boards industry, providing comprehensive product development and manufacturing services.
Investors often keep a close eye on insider transactions as they can provide valuable insights into the company's health and the confidence level of its top executives. The recent sales by Plexus' CEO may be of particular interest to current and potential shareholders as they assess their investment strategies.
InvestingPro Insights
Amid the news of Plexus Corp (NASDAQ:PLXS) CEO Todd P. Kelsey's recent stock sales, investors may seek a deeper understanding of the company's financial health and future outlook. According to InvestingPro data, Plexus currently holds a market capitalization of 2.82 billion USD, with a Price to Earnings (P/E) ratio of 27.94. This ratio, however, is forecasted to adjust to a lower P/E of 21.52 in the last twelve months as of Q2 2024, suggesting a potential improvement in earnings relative to the stock price.
The company's revenue has seen a contraction of 6.44% over the last twelve months as of Q2 2024, which may raise concerns for some investors. Nevertheless, the gross profit margin in the same period stands at 9.18%, indicating the company's ability to maintain profitability despite revenue fluctuations. Plexus also boasts a positive 1-year price total return of 14.14%, reflecting a favorable market response over the past year.
Among the InvestingPro Tips related to Plexus, two notable points stand out. Firstly, analysts have revised their earnings expectations upwards for the upcoming period, which could signal confidence in the company's ability to surpass previous performance estimates. Secondly, Plexus operates with a moderate level of debt, providing it with financial flexibility but also requiring careful debt management. It's worth noting that Plexus does not pay a dividend, which could influence the investment decisions of income-focused shareholders.
For investors seeking a comprehensive list of tips, there are 8 additional InvestingPro Tips available for Plexus, which can be accessed by visiting https://www.investing.com/pro/PLXS. These insights could further inform investment decisions, and readers can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, providing an even greater depth of analysis and data to support their strategies.
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