Maria Victoria Wong, Senior Vice President and Chief Accounting Officer at Cisco Systems, Inc. (NASDAQ:CSCO), recently sold a portion of her holdings in the company. According to a recent SEC filing, Wong sold 4,881 shares of Cisco common stock on November 27, 2024, at a price of $59.73 per share, amounting to a total transaction value of $291,542. The transaction comes as Cisco, with a market capitalization of $236.62 billion, trades near its 52-week high of $59.87, having gained nearly 30% over the past six months.
Following this sale, Wong retains ownership of 51,931 shares in the company. The transaction was executed under a Rule 10b5-1 plan, which Wong adopted on February 22, 2024. According to InvestingPro analysis, Cisco maintains a "GOOD" overall financial health score, with 12+ additional exclusive insights available to subscribers, including detailed insider trading patterns and comprehensive financial analysis in the Pro Research Report.
In other recent news, Cisco Systems, Inc. reported a robust Q1 FY2025 performance, with revenues reaching $13.8 billion and non-GAAP earnings per share (EPS) of $0.91, surpassing expectations. The company's focus on artificial intelligence (AI) infrastructure and security seems to be yielding results, with a significant demand surge from webscale customers and a more than doubling of security orders. Cisco anticipates revenue between $55.3 billion and $56.3 billion for FY2025, with non-GAAP EPS expected between $3.60 and $3.66. Despite a 23% decline in networking revenue and challenges in the U.S. federal business, the company's AI and security segments showed strong growth. Cisco's next earnings call is scheduled for February 12, 2025.
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