Qualys, Inc. (NASDAQ:QLYS) Chief Financial Officer Kim Joo Mi recently sold 1,480 shares of the company's common stock, according to a recent SEC filing. The shares were sold at a price of $165 each, resulting in a total transaction value of $244,200. Following this sale, Kim Joo Mi holds 114,984 shares in the company. This transaction was executed under a pre-established Rule 10b5-1 trading plan, which was adopted on August 28, 2023.
In other recent news, cybersecurity firm Qualys has reported an 8% year-over-year revenue growth in Q3 2024, reaching $153.9 million. The company's newly launched cloud-based Enterprise Threat Management (ETM) solution and the TruLens app have contributed to this growth. Channel revenue, which now makes up 47% of total revenues, saw a significant increase due to strategic partnerships and product enhancements.
International growth surpassed domestic at 14%, while the company maintained a steady gross retention rate of approximately 90%. Qualys has provided full-year revenue guidance suggesting a 9% growth rate and plans for continued investments in sales and marketing. Despite potential challenges in new business bookings for Q4, the company remains optimistic about its long-term trajectory.
These recent developments indicate Qualys' commitment to innovation and strategic partnerships, which are expected to drive future growth. The company's unique integration of vulnerability management, scanning, and patch management sets it apart from competitors, positioning it as a comprehensive solution provider in the cybersecurity landscape.
InvestingPro Insights
While Qualys' CFO has recently sold shares, it's important to consider the broader financial picture of the company. According to InvestingPro data, Qualys boasts a market capitalization of $5.66 billion and has demonstrated strong financial performance. The company's revenue for the last twelve months as of Q3 2023 stood at $592.95 million, with an impressive gross profit margin of 81.52%.
InvestingPro Tips highlight that Qualys holds more cash than debt on its balance sheet, indicating a strong financial position. This solid financial footing may provide context for executive stock transactions, as the company's overall financial health remains robust.
Additionally, 19 analysts have revised their earnings upwards for the upcoming period, suggesting positive sentiment about Qualys' future performance. This aligns with the company's profitability over the last twelve months and analysts' predictions of continued profitability this year.
It's worth noting that Qualys has seen significant returns recently, with a 33.54% price return over the last week and a 31.55% return over the last month. However, the stock is trading at a high P/E ratio of 33.76, which may indicate that the market has high growth expectations for the company.
For investors seeking a more comprehensive analysis, InvestingPro offers 11 additional tips for Qualys, providing a deeper understanding of the company's financial position and market performance.
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