By Mauro Orru

SAP SE's supervisory board chairman Hasso Plattner has bought shares in the German business-software maker worth nearly $300 million, according to a regulatory filing published Tuesday.

Mr. Plattner bought 248.5 million euros ($293.5 million) worth of SAP stock on Monday after the company's share price plunged more than 20%, wiping more than $30 billion off its market value.

SAP on Sunday reported declines in operating profit and revenue for the third quarter, cut its full-year outlook on earnings and revenue, and exchanged its 2023 goals for new 2025 targets as the coronavirus pandemic continued to hit its business.

Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94

(END) Dow Jones Newswires

October 27, 2020 10:10 ET (14:10 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.
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