Tenable Holdings, Inc. (NASDAQ:TENB) Chief Financial Officer Stephen A. Vintz has recently engaged in multiple transactions involving the company's stock, according to a new SEC filing. On March 28, Vintz sold a total of 15,505 shares of common stock at an average price of $2.3633, amounting to $36,642 in total value. Additionally, he sold 13,805 shares at prices ranging from $49.00 to $49.99, and another 1,700 shares at prices between $50.00 and $50.21, for a combined total of over $768,362.
The sales were conducted under a Rule 10b5-1 trading plan, which allows company insiders to set up a predetermined plan to sell stocks at a time when they are not in possession of material non-public information. This plan provides executives with a way to diversify their investment portfolios and can protect them from accusations of insider trading.
Following these transactions, Vintz's direct ownership in Tenable Holdings stands at 257,924 shares of common stock. The price ranges for the sales indicate a healthy market with a slight upward trend on the day of the transactions.
Investors often keep a close eye on insider trading activities as they can provide valuable insights into the company's performance and the confidence level of its top executives. The recent sales by Tenable Holdings' CFO might be of particular interest to current and potential shareholders as they assess their investment in the cybersecurity company.
InvestingPro Insights
As investors evaluate the recent insider trading activity of Tenable Holdings, Inc. (NASDAQ:TENB), it's beneficial to consider the company's financial health and market performance. Tenable's market capitalization stands at $5.83 billion, reflecting its position in the cybersecurity industry. Despite a negative P/E ratio of -72.58, which suggests that the company is not currently profitable, analysts anticipate a turnaround with net income expected to grow this year, as per InvestingPro Tips. This is further supported by a strong gross profit margin of 77.02% for the last twelve months as of Q1 2023, indicating efficient operations and control over costs.
Another key metric for investors is the company's revenue growth, which has been robust at 16.91% for the last twelve months as of Q1 2023. This growth is a testament to Tenable's expanding market presence and demand for its cybersecurity solutions. Additionally, the company's shares are trading at a high Price/Book multiple of 16.83, which could suggest that the market has high expectations for the company's future growth and profitability.
For those interested in further analysis and metrics, additional InvestingPro Tips are available, which include perspectives on Tenable's moderate level of debt and predictions on profitability for the current year. Access these insights and more by visiting https://www.investing.com/pro/TENB and use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription. In total, there are seven more InvestingPro Tips that can help investors make a more informed decision regarding their investment in Tenable Holdings.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.