Mark Thurmond, the Chief Operating Officer of Tenable Holdings, Inc. (NASDAQ:TENB), has sold shares totaling $145,726, according to a recent SEC filing. The transactions, which took place on November 26, involved the sale of 886 shares at $42.61 each and 2,537 shares at $42.56 each. These sales were conducted under a pre-established Rule 10b5-1 trading plan and included shares sold to cover tax withholding obligations from vested restricted stock units. Following these transactions, Thurmond holds 38,985 shares in the company.
In other recent news, Tenable Holdings, Inc. reported a 13% year-over-year increase in its third quarter revenue for 2024, reaching $227.1 million. The company's earnings per share stood at $0.32, and they further announced a $200 million enhancement to their share repurchase program. The growth was largely attributed to the demand for Tenable One and Cloud Security products, as well as successful performance in the public sector and mid-market. The company also added 386 new enterprise customers and observed a 100% year-over-year growth in Tenable Cloud Security. For the upcoming fourth quarter, Tenable expects revenue to be between $229 million and $233 million with a non-GAAP diluted EPS projected at $0.33 to $0.35. The company is also aiming for an unlevered free cash flow of $280 million to $290 million for 2025. These recent developments indicate Tenable's commitment to growth and financial health.
InvestingPro Insights
While Mark Thurmond's recent share sale might raise eyebrows, it's important to consider Tenable Holdings' broader financial picture. According to InvestingPro data, Tenable boasts a market capitalization of $5.03 billion and has demonstrated strong revenue growth, with a 13.97% increase over the last twelve months to $877.6 million. The company's impressive gross profit margin of 77.55% underscores its operational efficiency.
InvestingPro Tips highlight that 17 analysts have revised their earnings upwards for the upcoming period, suggesting positive expectations for Tenable's financial performance. Additionally, the company is expected to turn profitable this year, which could be a significant milestone for investors.
However, it's worth noting that Tenable currently trades at a high Price/Book multiple of 12.44, indicating that the stock may be relatively expensive compared to its book value. This valuation metric, along with the company's high EBITDA multiple mentioned in another InvestingPro Tip, suggests that investors are pricing in substantial future growth.
For those interested in a more comprehensive analysis, InvestingPro offers additional tips and insights, with a total of 10 tips available for Tenable Holdings. These additional insights could provide valuable context for understanding the company's financial health and market position beyond the scope of this article.
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