Mark C. Thurmond, the Chief Operating Officer of Tenable Holdings, Inc. (NASDAQ:), reported a series of transactions involving the company’s common stock. On November 25, 2024, Thurmond sold 2,343 shares at a price of $42.74 each, amounting to a total sale of $100,139. This sale was automatically executed to cover tax obligations associated with the vesting of restricted stock units, rather than being a discretionary trade.
In addition to the sale, Thurmond also acquired shares through multiple transactions on November 22 and November 25. These acquisitions were related to the vesting of performance and restricted stock units, resulting in the addition of 11,094 shares to his holdings. Despite these transactions, Thurmond’s direct ownership stands at 42,408 shares following the recent activities.
In other recent news, Tenable Holdings, Inc. reported robust growth in the third quarter of 2024, with a 13% year-over-year increase in revenue, reaching $227.1 million. The company’s earnings per share (EPS) stood at $0.32, and it announced a $200 million boost to its share repurchase program. These developments were largely driven by the demand for Tenable’s One and Cloud Security products, and success in the public sector and mid-market.
The company added 386 new enterprise customers and saw 100% growth in Tenable Cloud Security. Operating income reached $45 million, with a 20% operating margin, up from 10% the previous year. Tenable’s Q4 revenue is projected to be between $229 million and $233 million, with full-year revenue expectations ranging from $893.3 million to $897.3 million.
Additionally, the company targets unlevered free cash flow of $280 million to $290 million for 2025. Despite these positive results, it’s worth noting that there were no stock repurchases this quarter despite the increased buyback authorization. Tenable’s resilience and growth in the face of macroeconomic challenges are underpinned by its focus on expanding exposure management solutions and cloud security offerings.
InvestingPro Insights
To provide additional context to Mark C. Thurmond’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, positioning it as a mid-cap company in the cybersecurity sector. The company’s revenue for the last twelve months as of Q3 2024 stood at $877.6 million, with a notable revenue growth of 13.97% over the same period.
One of the standout features of Tenable’s financial profile is its impressive gross profit margin of 77.55%, which aligns with an InvestingPro Tip highlighting the company’s “impressive gross profit margins.” This strong margin suggests that Tenable has significant pricing power in its market and efficient cost management in its core operations.
Another relevant InvestingPro Tip indicates that “17 analysts have revised their earnings upwards for the upcoming period.” This positive sentiment from analysts could be a factor influencing insider decisions, including those of the COO, regarding stock holdings and transactions.
It’s worth noting that while Tenable is not currently profitable over the last twelve months, with a negative operating income of $17.58 million, analysts predict the company will be profitable this year. This expectation of near-term profitability could be a crucial factor in understanding the company’s stock performance and insider activity.
For investors seeking a more comprehensive analysis, InvestingPro offers 7 additional tips for Tenable, providing a deeper dive into the company’s financial health and market position.
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