Amit Yoran, the President, CEO, and Chairman of Tenable Holdings, Inc. (NASDAQ:TENB), recently executed a series of stock transactions, according to a Form 4 filing with the Securities and Exchange Commission. On November 25 and 26, Yoran sold a total of 11,046 shares of Tenable common stock, valued at approximately $471,070, with prices ranging from $42.56 to $42.74 per share.
The sales were part of a pre-arranged plan to cover tax withholding obligations tied to the vesting of restricted stock units. These transactions were not discretionary trades by Yoran but were conducted to satisfy tax requirements through a "sell to cover" arrangement.
In addition to selling shares, Yoran acquired shares through the exercise of stock units. On November 22 and 25, he acquired a total of 24,508 shares of common stock at no cost, following the vesting of performance and restricted stock units.
Following these transactions, Yoran holds a substantial number of shares directly and indirectly, including shares held by trusts and LLCs associated with him.
In other recent news, cybersecurity firm Tenable Holdings, Inc. reported robust financial results for its third quarter of 2024. The company's revenue reached $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 increase to its share repurchase program.
These developments were primarily driven by demand for Tenable's products, namely Tenable One and Cloud Security, as well as success in the public sector and mid-market. The company added 386 new enterprise customers and observed a 100% year-over-year growth in Tenable Cloud Security.
Looking ahead, Tenable forecasts Q4 revenue to fall between $229 million and $233 million, with full-year revenue projected between $893.3 million and $897.3 million. The company's non-GAAP diluted EPS for Q4 is estimated at $0.33 to $0.35, and it aims for unlevered free cash flow of $280 million to $290 million for 2025. These are the latest updates in Tenable's ongoing growth story.
InvestingPro Insights
To provide additional context to Amit Yoran's recent stock transactions, let's examine some key financial metrics and insights for Tenable Holdings, Inc. (NASDAQ:TENB).
According to InvestingPro data, Tenable has a market capitalization of $5.17 billion and generated revenue of $877.6 million in the last twelve months as of Q3 2023, with a 13.97% revenue growth rate. This growth trajectory aligns with an InvestingPro Tip indicating that net income is expected to grow this year, suggesting potential for improved financial performance.
Tenable's gross profit margin stands at an impressive 77.55%, which is reflected in one of the InvestingPro Tips highlighting the company's "impressive gross profit margins." This strong margin could provide the company with financial flexibility and resources for future growth initiatives.
It's worth noting that while Tenable was not profitable over the last twelve months, analysts predict the company will be profitable this year, according to InvestingPro Tips. This positive outlook may explain why 17 analysts have revised their earnings upwards for the upcoming period, indicating growing confidence in Tenable's financial prospects.
The stock's recent performance shows a 3.07% price total return over the past year, with the current price at 80.39% of its 52-week high. This relatively stable performance is consistent with the InvestingPro Tip that the stock generally trades with low price volatility, which could be appealing to investors seeking more predictable returns.
For those interested in a deeper analysis, InvestingPro offers additional tips and insights, with 10 more tips available for Tenable Holdings, Inc. These additional insights could provide valuable context for understanding the company's financial position and future prospects.
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