Safe-T Group (NASDAQ:SFET) Ltd, a provider of cybersecurity and privacy solutions, revealed that after the filing of its third-quarter results, members of its management team, including the company’s CEO, CFO as well chairman of the company’s board, completed open market stock purchases as an expression of their “long-term confidence” in the company.
The Herzliya, Israel-based company that provides companies with network access solutions and intelligent data collection to blunt attacks on business-critical services and sensitive data, said that in aggregate, the executives had bought over 180,000 shares during the trading window, between December 7 and December 13, 2021.
“Safe-T Group (NASDAQ:SFET) continues to drive record growth as it successfully executes its business plan addressing the tremendous global opportunities of cybersecurity and privacy. The strong performance, combined with our expectations for continued growth, provide us with confidence in the significant inherent value in our shares and that is why we have increased our stakes in the company,” Safe-T Group chairman Chen Katz said in a statement.
Investors responded well, sending shares nearly 3% higher higher to $0.86 on the tech-dominated Nasdaq.
READ: Safe-T successfully deploys its ZoneZero ZTNA solution in India and South-East Asia
“Safe-T has accomplished many milestones over the past two years as we build the company into a global leader in the cybersecurity and privacy market, and we are confident that we have the right team, technology, and capabilities to achieve our long-term goals and create shareholder value,” he added.
As a global provider of cybersecurity and privacy solutions, Safe-T Group operates in three distinct segments: enterprise cybersecurity solutions, enterprise privacy solutions, and consumer cybersecurity and privacy solutions.
The firm’s cybersecurity and privacy solutions for consumers provide a wide security blanket against ransomware, viruses, phishing, and other online threats as well as a powerful, secured and encrypted connection, masking their online activity and keeping them safe from hackers. It also has the ZoneZero cybersecurity solutions for enterprises, designed for cloud, on-premises and hybrid networks.
Contact the author Uttara Choudhury at uttara@proactiveinvestors.com
Follow her on Twitter: @UttaraProactive