In a recent filing with the Securities and Exchange Commission, Tenable Holdings, Inc. (NASDAQ:TENB) disclosed that its Chief Financial Officer, Stephen A. Vintz, executed a series of stock transactions. On November 25 and November 26, Vintz sold a total of 6,640 shares of Tenable's common stock, generating proceeds of approximately $283,170. The shares were sold at prices ranging from $42.56 to $42.74 per share.
Additionally, Vintz acquired shares through the exercise of stock units on November 22 and November 25. These transactions involved a total of 13,883 shares, although these acquisitions were not associated with any cash outlay, as they were part of previously awarded stock units.
The sales were conducted to cover tax obligations related to the vesting of restricted stock units, as noted in the filing. Following these transactions, Vintz holds direct ownership of 288,779 shares of Tenable common stock.
In other recent news, Tenable Holdings, Inc. reported a robust financial performance in its third quarter of 2024. The cybersecurity company's revenue reached $227.1 million, marking a 13% increase from the previous year. Additionally, the company saw an earnings per share (EPS) of $0.32 and announced a $200 million increase to its share repurchase program.
Tenable's growth was primarily driven by its Tenable One and Cloud Security products, along with success in the public sector and mid-market. The company added 386 new enterprise customers and reported 100% year-over-year growth in Tenable Cloud Security. Notably, Tenable One accounted for 30% of new sales.
The company's operating income reached $45 million, with a 20% operating margin, a significant increase from 10% the previous year. Furthermore, Tenable expects Q4 revenue to be between $229 million and $233 million. The company also projected its full-year revenue for 2024 to be between $893.3 million and $897.3 million.
Lastly, non-GAAP diluted EPS for Q4 is estimated to range from $0.33 to $0.35, and Tenable is targeting an unlevered free cash flow of $280 million to $290 million for 2025. These recent developments highlight Tenable's financial health and growth trajectory.
InvestingPro Insights
Tenable Holdings, Inc. (NASDAQ:TENB) has been demonstrating some positive financial indicators despite the recent insider selling activity. According to InvestingPro data, the company boasts a market capitalization of $5.17 billion and has shown impressive revenue growth of 13.97% over the last twelve months as of Q3 2024, reaching $877.6 million.
One of the standout metrics for Tenable is its gross profit margin, which stands at a robust 77.55% for the same period. This aligns with one of the InvestingPro Tips highlighting Tenable's "impressive gross profit margins." Such strong margins often indicate a company's ability to maintain pricing power and efficiency in its operations.
Another InvestingPro Tip suggests that "17 analysts have revised their earnings upwards for the upcoming period," which could be seen as a vote of confidence in the company's near-term financial prospects. This positive sentiment is further supported by the expectation that "net income is expected to grow this year," potentially signaling a turnaround from the current unprofitable status noted in another tip.
It's worth noting that while Tenable is not currently profitable, with a P/E ratio of -84.62, analysts predict the company will become profitable this year. This expectation, combined with the company's strong revenue growth and high gross margins, may explain why the stock is trading at a high Price / Book multiple of 12.77.
For investors seeking more comprehensive analysis, InvestingPro offers additional tips and insights beyond what's mentioned here. In fact, there are 10 more InvestingPro Tips available for Tenable Holdings, which could provide a more complete picture of the company's financial health and market position.
In a recent filing with the Securities and Exchange Commission, Tenable Holdings, Inc. (NASDAQ:TENB) disclosed that its Chief Financial Officer, Stephen A. Vintz, executed a series of stock transactions. On November 25 and November 26, Vintz sold a total of 6,640 shares of Tenable's common stock, generating proceeds of approximately $283,170. The shares were sold at prices ranging from $42.56 to $42.74 per share.
Additionally, Vintz acquired shares through the exercise of stock units on November 22 and November 25. These transactions involved a total of 13,883 shares, although these acquisitions were not associated with any cash outlay, as they were part of previously awarded stock units.
The sales were conducted to cover tax obligations related to the vesting of restricted stock units, as noted in the filing. Following these transactions, Vintz holds direct ownership of 288,779 shares of Tenable common stock.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.