Christian Venderby, who is the director of the service business in Vestas, sold 60,000 shares in the company on Wednesday. The shares were sold at a price of DKK 192.68 per share, which gives a total price of DKK 11.6 million. On the same day, Vestas board member Anders Boyer-Søgaard bought 10,000 shares in Vestas for a total of DKK 1.937 million. He is also CFO of Pandora. This is according to MarketWire from stock exchange announcements.
The transactions come on the heels of Vestas presenting quarterly financial statements on Wednesday with progress in several areas. Following the financial statements, Jyske Bank has raised its recommendation for the share to buy from hold and at the same time raised the price target to DKK 220.
"At the same time, we are looking at a further improvement in profitability in 2027 as costs for starting up production on the new offshore wind turbine fall, the volume of onshore wind increases and the quality of earnings in the service business improves, writes Janne Vincent Kjær, equity analyst at Jyske Bank", in an analysis.
The Vestas share is trading Friday morning at DKK 191.30.
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