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EXTON, PA—Keith A. Bentley, a director and 10% owner of Bentley Systems Inc . (NASDAQ:BSY), a software company with a market capitalization of $14.68 billion, recently sold 1,152 shares of the company’s Class B common stock. The shares were sold on January 24, 2025, at a weighted average price of $46.328, amounting to a total transaction value of approximately $53,369. This transaction was conducted under a Rule 10b5-1 trading plan that Bentley adopted on September 6, 2024.
Following this sale, Bentley retains direct ownership of 16,703,876 shares. Additionally, he holds 100,000 shares indirectly through his spouse and 92,654 shares through a 401(k) plan.
In other recent news, Bentley Systems Incorporated has reported a 12% year-over-year growth in Annual Recurring Revenue (ARR) to $1.271 billion in its Q3 2024 financial results. The company has also reduced its senior debt to $168 million while securing a new $1.3 billion credit facility. Bentley Systems’ strategic acquisitions, including Cesium, and partnerships, particularly with Google (NASDAQ:GOOGL), are expected to enhance its 3D geospatial capabilities and infrastructure asset management. Despite challenges in China and delays in professional services revenue, the company maintains a positive outlook on its long-term investment strategy. JPMorgan has initiated coverage on Bentley Systems, giving the stock a Neutral rating with a price target of $52. In addition, the company has appointed ex-Google manager James Lee as its new Chief Operating Officer. These are the recent developments for Bentley Systems.
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