Henk Jan Spanjaard, the Chief Revenue Officer of Quantum Corp (NASDAQ: ), recently sold a portion of his holdings in the company. According to a recent SEC filing, Spanjaard sold 935 shares of Quantum Corp common stock on January 16, 2025. The shares were sold at a price of $35.68 each, for a total of $33,360 . This transaction comes as Quantum stock is showing remarkable momentum, with a 462% return over the past year and a 323% surge over the past six months, according to InvestingPro data.

The transaction was executed to cover withholding tax obligations related to the vesting of restricted stock units granted to Spanjaard on January 1, 2024. Following this sale, Spanjaard retains ownership of 14,903 shares of the company. InvestingPro The analysis shows that Quantum Corp is currently trading below its Fair Value, with 13 additional ProTips available to subscribers, including insights about the company’s financial health and growth prospects. Investors can access comprehensive analysis through InvestingPro’s detailed Research Report, available for over 1,400 US stocks.

In other recent news, Quantum Corporation announced significant developments in the field of quantum computing. The company experienced a surge in its share prices after introducing a new parallel file system client for the Quantum Myriad all-flash file system, designed to enhance the capabilities of NVIDIA (NASDAQ: ) GPUDirect Storage ®. This development is expected to improve the AI/ML infrastructure and offer a solution for GPU-intensive tasks such as AI/ML model training and inferencing, high-performance computing visualization, and video rendering.

At the same time, Quantum Corporation introduced a high-density tape storage system, the Scalar i7 RAPTOR, aimed at AI and cloud storage needs. This system boasts a storage density that is claimed to be up to 200% higher than traditional enterprise tape libraries, providing more than 36 petabytes of storage using LTO-9 tapes.

However, the company also faced a significant selloff, with the stock price falling by 39%. This drop was due to investor concerns over rising valuations in the quantum computing sector and criticism from activist short-seller Citron Research. The company also reported a 7% decline in year-over-year revenue, which totaled $70.5 million, but managed to achieve roughly breakeven adjusted EBITDA.

Despite these challenges, Quantum Corporation remains optimistic, with the company adjusting its FY 2025 revenue outlook to $280 million and adjusted EBITDA expected to $3 million. These recent developments demonstrate Quantum Corporation’s continued commitment to innovation and growth in the quantum computing sector.

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