Qualys (NASDAQ:QLYS) Trading Down 9.4% on Insider Selling

Qualys, Inc. (NASDAQ:QLYS)’s stock price was down 9.4% during mid-day trading on Wednesday after an insider sold shares in the company. The company traded as low as $150.05 and last traded at $150.32. Approximately 446,886 shares changed hands during trading, a decline of 2% from the average daily volume of 455,610 shares. The stock had previously closed at $165.98.

Specifically, CEO Sumedh S. Thakar sold 4,120 shares of Qualys stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $167.62, for a total transaction of $690,594.40. Following the sale, the chief executive officer now owns 194,481 shares of the company’s stock, valued at $32,598,905.22. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, CEO Sumedh S. Thakar sold 4,034 shares of Qualys stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $163.96, for a total transaction of $661,414.64. Following the sale, the chief executive officer now directly owns 193,608 shares in the company, valued at $31,743,967.68. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Sumedh S. Thakar sold 4,120 shares of the stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $167.62, for a total transaction of $690,594.40. Following the completion of the transaction, the chief executive officer now owns 194,481 shares of the company’s stock, valued at approximately $32,598,905.22. The disclosure for this sale can be found here. Insiders have sold a total of 14,590 shares of company stock valued at $2,419,842 in the last quarter. Company insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on QLYS. Truist Financial dropped their target price on Qualys from $175.00 to $165.00 and set a “hold” rating on the stock in a report on Wednesday. Robert W. Baird cut their price objective on Qualys from $175.00 to $170.00 and set a “neutral” rating for the company in a report on Wednesday. TD Cowen started coverage on Qualys in a report on Tuesday, March 26th. They set a “market perform” rating and a $170.00 target price on the stock. Wedbush dropped their price target on shares of Qualys from $230.00 to $210.00 and set an “outperform” rating on the stock in a research report on Thursday, February 8th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Qualys from $146.00 to $152.00 and gave the company an “underweight” rating in a research report on Thursday, February 8th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $162.23.

Qualys Stock Down 9.8 %

The business’s 50 day simple moving average is $166.59 and its 200 day simple moving average is $175.87. The company has a market capitalization of $5.53 billion, a PE ratio of 37.07 and a beta of 0.51.

Qualys (NASDAQ:QLYS) last released its quarterly earnings results on Wednesday, February 7th. The software maker reported $1.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.26. Qualys had a net margin of 27.34% and a return on equity of 49.06%. The business had revenue of $144.57 million for the quarter, compared to analyst estimates of $144.69 million. On average, analysts anticipate that Qualys, Inc. will post 3.35 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Qualys

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Rise Advisors LLC purchased a new stake in shares of Qualys in the first quarter valued at $26,000. Global Retirement Partners LLC raised its position in Qualys by 1,666.7% during the first quarter. Global Retirement Partners LLC now owns 159 shares of the software maker’s stock valued at $27,000 after buying an additional 150 shares during the period. McGlone Suttner Wealth Management Inc. purchased a new stake in Qualys in the 4th quarter worth about $30,000. Sound Income Strategies LLC boosted its position in Qualys by 545.2% during the 1st quarter. Sound Income Strategies LLC now owns 200 shares of the software maker’s stock worth $33,000 after acquiring an additional 169 shares during the period. Finally, DecisionPoint Financial LLC purchased a new position in Qualys during the 1st quarter valued at about $34,000. 99.31% of the stock is currently owned by hedge funds and other institutional investors.

Qualys Company Profile

Qualys, Inc, together with its subsidiaries, provides cloud-based platform delivering information technology (IT), security, and compliance solutions in the United States and internationally. It offers Qualys Cloud Apps, which include Cybersecurity Asset Management and External Attack Surface Management; Vulnerability Management, Detection and Response; Web Application Scanning; Patch Management; Custom Assessment and Remediation; Multi-Vector Endpoint Detection and Response; Context Extended Detection and Response; Policy Compliance; File Integrity Monitoring; and Qualys TotalCloud, as well as Cloud Workload Protection, Cloud Detection and Response, Cloud Security Posture Management, Infrastructure as Code, and Container Security.