Bruce K. Posey, the Chief Legal Officer of Qualys, Inc. (NASDAQ:QLYS), recently sold shares of the company's common stock in a series of transactions dated December 20, 2024. According to a Form 4 filing with the Securities and Exchange Commission, Posey sold a total of 855 shares, generating proceeds of $121,613. The cybersecurity company, which boasts impressive gross profit margins of 81.5%, has maintained a GREAT financial health score according to InvestingPro analysis.
The sale of shares was conducted at prices ranging from $140.8311 to $142.8748 per share. These transactions were executed under a pre-established Rule 10b5-1 trading plan, which Posey adopted on August 21, 2024. Following these sales, Posey retains ownership of 63,177 shares of Qualys common stock. While the stock has seen a 28.3% decline year-to-date, InvestingPro subscribers can access 11 additional key insights and a comprehensive Pro Research Report, offering deeper analysis of the company's valuation and growth prospects.
In other recent news, Qualys, a cybersecurity firm, has been experiencing significant developments. Financial services firm Baird adjusted its stock price target for Qualys, raising it to $150 from $145 due to expected revenue growth. Despite pressures on its core vulnerability management business and a competitive environment, Baird's analysis suggests that Qualys' revenue growth could reach the mid-to-high teens percentage range by 2025.
Qualys reported an 8% year-over-year revenue increase in the third quarter of 2024, reaching $153.9 million. The company also launched its cloud-based Enterprise Threat Management solution and the TruLens app, contributing to a growth in channel revenue to 47% of total revenues. International growth surpassed domestic at 14%, and the company provided full-year revenue guidance suggesting a 9% growth rate.
Analysts from Baird commented on the company's outlook, stating that Qualys may continue to face pressure as core vulnerability management becomes increasingly standardized in the cybersecurity industry. Despite this, Qualys maintains strong financial fundamentals, with operating margins of over 40% and free cash flow margins in the mid-thirties percent range. These recent developments mark an important phase in Qualys' journey in the cybersecurity landscape.
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