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Vicks Raymond (NS:RYMD) Jr., a director at Tenable Holdings, Inc. (NASDAQ:TENB), a cybersecurity company with a market capitalization of $4.63 billion and impressive gross profit margins of ~78%, executed a series of stock transactions as reported in a recent SEC filing. According to InvestingPro data, the stock currently trades at $38.49, with analysts maintaining a bullish outlook. On January 8, 2025, Raymond sold 809 shares of Tenable common stock at a price of $38.52 per share, totaling $31,162. This sale was conducted under a pre-established Rule 10b5-1 trading plan. Notably, 17 analysts have recently revised their earnings estimates upward, with price targets ranging from $40 to $55.
Additionally, on January 7, 2025, Raymond acquired 2,696 shares through the conversion of restricted stock units, which vested on the same day. These transactions did not involve a cash purchase, as the conversion price was set at $0. Following these transactions, Raymond holds 8,659 shares directly. Furthermore, he manages an additional 3,000 shares indirectly as a custodian for his granddaughter under the Uniform Transfer to Minors Act. For deeper insights into Tenable's valuation and growth prospects, including additional ProTips and comprehensive analysis, visit InvestingPro.
In other recent news, Tenable Holdings, Inc. reported a 13% year-over-year increase in its third-quarter revenue, reaching $227.1 million. The company's earnings per share stood at $0.32, and it announced a $200 million increase to its share repurchase program. These developments occurred amidst a recent downgrade by Morgan Stanley (NYSE:MS) from Overweight to Equal-weight, citing challenges in the Vulnerability Management market and potential limitations to margin growth.
Despite these concerns, Tenable demonstrated strong performance in its Cloud Security and Tenable One products, contributing to its robust growth. The company added 386 new enterprise customers and saw a 100% year-over-year growth in Cloud Security.
Tenable's operating income reached $45 million, marking a significant rise from the previous year's 10%. The company's fourth-quarter revenue is projected to be between $229 million and $233 million, with full-year revenue expected to fall between $893.3 million and $897.3 million. Non-GAAP diluted EPS for Q4 is estimated to range from $0.33 to $0.35. These are the recent developments for Tenable Holdings, Inc.
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