Qualys, Inc. (NASDAQ:) Chief Financial Officer Joo Mi Kim has sold a total of $155,879 worth of company shares, according to a recent SEC filing. The transactions occurred on May 6, 2024, with prices ranging from $165.99 to $169.8653 per share.
The sales were executed under a pre-arranged trading plan, known as a Rule 10b5-1 plan, which was adopted on August 28, 2023. Such plans allow company insiders to sell shares over a predetermined period of time, providing an affirmative defense against accusations of trading on non-public information.
Kim’s series of transactions included selling 312 shares at a price of $165.99, followed by 232 shares at a weighted average price of $167.7685, with the range of prices for this batch of shares being $167.44 to $168.05. Another 71 shares were sold at an average price of $169.0152, within a price range of $168.44 to $169.35. The final transaction involved selling 313 shares at an average price of $169.8653, with the sales prices ranging from $169.56 to $170.55 per share.
Following these transactions, the CFO’s ownership in Qualys’ common stock has been updated to reflect the new total of shares held. The SEC filing did not specify the exact remaining holdings for each transaction, but the sequential sales indicate a diminishing ownership as each sale was completed.
Investors often monitor insider sales as they can provide insights into an executive’s view of the company’s current valuation and future prospects. However, sales under Rule 10b5-1 plans are generally considered less indicative of insider sentiment, as they are set up in advance and executed according to the plan regardless of any subsequent non-public information the insider might receive.
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Qualys, headquartered in Foster City, California, specializes in cloud security and compliance solutions. The company’s stock is publicly traded on the NASDAQ stock exchange under the ticker symbol QLYS.
InvestingPro Insights
Qualys, Inc. (NASDAQ:QLYS) CFO Joo Mi Kim’s recent sale of company shares has caught the attention of investors. In light of this event, it’s worth considering the company’s financial health and market performance through key metrics from InvestingPro. Qualys boasts a robust balance sheet, holding more cash than debt, which is a reassuring sign for stakeholders assessing the company’s financial stability. Additionally, analysts are showing confidence in…
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