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Qualys CFO Kim Joo Mi sells shares worth $209,617

Published 2024-12-06, 05:32 p/m
QLYS
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FOSTER CITY, CA—Kim Joo Mi, the Chief Financial Officer of Qualys, Inc. (NASDAQ:QLYS), a $5.7 billion cybersecurity company with impressive 81.5% gross profit margins, recently executed a sale of company shares, according to a regulatory filing with the Securities and Exchange Commission. According to InvestingPro analysis, Qualys maintains strong financial health with a "GREAT" overall rating. On December 5, Joo Mi sold a total of 1,332 shares of common stock. The shares were sold at prices ranging from $157.13 to $157.87 per share, amounting to a total transaction value of $209,617. The transaction occurred as the stock trades at relatively high valuation multiples, with InvestingPro offering 12 additional key insights about the company's valuation and growth prospects.

Following the sale, Joo Mi holds 113,652 shares of Qualys. The transactions were conducted under a Rule 10b5-1 trading plan, which was adopted on August 21, 2024. This plan allows insiders to set up a predetermined schedule for selling shares to avoid concerns about insider trading.

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 also announced the launch of its cloud-based Enterprise Threat Management (ETM) solution and the TruLens app, emphasizing its commitment to innovation. Channel revenue showed significant growth, now accounting for 47% of total revenues.

International revenue growth surpassed domestic, with a rate of 14%. The company's gross retention rate remained steady at approximately 90%. Qualys has provided full-year revenue guidance, projecting a 9% growth rate and continued investments in sales and marketing.

Despite potential slowdowns in new business bookings for Q4, the company remains optimistic about the long-term demand for cybersecurity solutions. The earnings call also highlighted Qualys' growth in the federal sector, driven by new hires and successful marketing initiatives. The company's strategic partnerships and product innovations are expected to drive future growth.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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