Mark C. Thurmond, the Chief Operating Officer of Tenable Holdings, Inc. (NASDAQ:TENB), recently reported a sale of company stock. According to the SEC filing, Thurmond sold 2,209 shares of common stock at an average price of $40.72 per share on November 19, 2024, amounting to a total transaction value of $89,950.
This transaction was conducted to cover tax withholding obligations related to the vesting of restricted stock units, as noted in the filing. Following this sale, Thurmond holds 35,480 shares of Tenable Holdings.
Additionally, Thurmond acquired 4,561 shares of common stock on November 18, 2024, through the vesting of restricted stock units, although this transaction did not involve any monetary exchange. The acquisition increased his total shareholding to 37,689 before the subsequent sale.
In other recent news, cybersecurity company, Tenable Holdings, Inc., reported robust growth for its third quarter of 2024. The company's revenue hit $227.1 million, marking a 13% increase from the previous year, and earnings per share stood at $0.32. In addition, Tenable announced a $200 million augmentation to their share repurchase program.
The company's growth was primarily fueled by the demand for its Tenable One and Cloud Security products and success in the public sector and mid-market. Tenable also added 386 new enterprise customers and witnessed a 100% year-over-year growth in Tenable Cloud Security.
Looking ahead, Tenable expects Q4 revenue to range between $229 million and $233 million and full-year revenue to fall between $893.3 million and $897.3 million. The company's non-GAAP diluted EPS for Q4 is projected at $0.33 to $0.35. The company has also set a target for unlevered free cash flow of $280 million to $290 million for 2025. These recent developments indicate a positive trajectory for Tenable Holdings, Inc.
InvestingPro Insights
To provide additional context to Mark C. Thurmond's recent stock transaction, let's examine some key financial metrics and insights for Tenable Holdings, Inc. (NASDAQ:TENB).
According to InvestingPro data, Tenable currently has a market capitalization of $4.91 billion. The company's revenue for the last twelve months as of Q3 2023 stood at $877.6 million, with a revenue growth rate of 13.97%. This growth indicates that Tenable is expanding its market presence in the cybersecurity sector.
One of the standout metrics for Tenable is its impressive gross profit margin of 77.55% for the same period. This high margin suggests that the company has strong pricing power and efficient cost management in its core operations. An InvestingPro Tip highlights that Tenable operates with "impressive gross profit margins," which aligns with this data point.
Another relevant InvestingPro Tip notes that 17 analysts have revised their earnings upwards for the upcoming period. This positive sentiment from analysts could be a factor for investors to consider when evaluating the company's future prospects.
It's worth noting that while Tenable is not currently profitable over the last twelve months, analysts predict that the company will be profitable this year. This expectation of profitability could be a significant turning point for the company and may influence future insider trading activities.
For those interested in a deeper analysis, InvestingPro offers additional tips and insights. In fact, there are 5 more InvestingPro Tips available for Tenable, which could provide valuable information for investors looking to make informed decisions about the company.
Mark C. Thurmond, the Chief Operating Officer of Tenable Holdings, Inc. (NASDAQ:TENB), recently reported a sale of company stock. According to the SEC filing, Thurmond sold 2,209 shares of common stock at an average price of $40.72 per share on November 19, 2024, amounting to a total transaction value of $89,950.
This transaction was conducted to cover tax withholding obligations related to the vesting of restricted stock units, as noted in the filing. Following this sale, Thurmond holds 35,480 shares of Tenable Holdings.
Additionally, Thurmond acquired 4,561 shares of common stock on November 18, 2024, through the vesting of restricted stock units, although this transaction did not involve any monetary exchange. The acquisition increased his total shareholding to 37,689 before the subsequent sale.
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