Amit Yoran, the President, CEO, and Chairman of Tenable Holdings, Inc. (NASDAQ:TENB), recently sold 4,828 shares of the company's common stock at a price of $40.72 per share. This transaction, which took place on November 19, 2024, amounted to a total value of $196,596. Following this sale, Yoran retains ownership of 45,171 shares directly.
The sale was conducted to cover tax withholding obligations related to the vesting of restricted stock units. These shares were automatically sold to satisfy the tax requirements and did not involve any discretionary trading on Yoran's part.
In a related transaction on November 18, 2024, Yoran acquired 10,690 shares through the vesting of restricted stock units, with no direct financial outlay, as these shares were part of his compensation package.
In other recent news, cybersecurity firm Tenable Holdings, Inc. reported robust Q3 growth for 2024, with revenues reaching $227.1 million, a 13% increase year-over-year. The company's earnings per share stood at $0.32, and a $200 million increase to their share repurchase program was announced. The growth was primarily fueled by the demand for Tenable's products, Tenable One and Cloud Security, and successful ventures in the public sector and mid-market. The company added 386 new enterprise customers and reported a 100% year-over-year growth in Tenable Cloud Security. These recent developments indicate a positive trajectory for the company. However, no stock repurchases were made this quarter despite the increased buyback authorization. Looking ahead, Tenable expects Q4 revenue to be between $229 million and $233 million and projects a non-GAAP diluted EPS ranging from $0.33 to $0.35.
InvestingPro Insights
As we examine Amit Yoran's recent stock transactions, it's worth considering Tenable Holdings' current financial position. According to InvestingPro data, Tenable boasts a market capitalization of $4.91 billion, reflecting its significant presence in the cybersecurity sector. The company's revenue for the last twelve months as of Q3 2024 stands at $877.6 million, with a notable revenue growth of 13.97% over the same period.
Tenable's gross profit margin of 77.55% underscores its ability to maintain healthy profitability in its core operations. This robust margin is particularly relevant in the context of executive compensation, as it suggests the company has the financial flexibility to offer competitive equity packages to key personnel like CEO Yoran.
An InvestingPro Tip indicates that Tenable's revenue growth has been decelerating, which may explain the recent stock sale to cover tax obligations rather than a discretionary sale. This context adds nuance to understanding executive stock transactions.
Another InvestingPro Tip highlights that analysts have recently revised their earnings expectations for Tenable upwards. This positive sentiment aligns with the company's strong gross margins and could potentially influence future equity compensation decisions.
For investors seeking a more comprehensive analysis, InvestingPro offers 18 additional tips for Tenable Holdings, providing a deeper dive into the company's financial health and market position.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.