On May 24, 2023, Mark Thurmond, the Chief Operating Officer (COO) of Tenable Holdings Inc (TENB, Financial), sold 2,516 shares of the company's stock. This insider sell comes amidst a year of insider trading activity that has seen Thurmond sell a total of 28,667 shares and make no purchases.
Who is Mark Thurmond of Tenable Holdings Inc?
Mark Thurmond is the Chief Operating Officer (COO) of Tenable Holdings Inc, a leading cybersecurity company. He has been with the company since 2018 and has extensive experience in the cybersecurity industry. Prior to joining Tenable, Thurmond held executive positions at various technology companies, including Qlik, VCE, and RSA, a division of Dell Technologies.
Tenable Holdings Inc's Business Description
Tenable Holdings Inc is a cybersecurity company that specializes in providing solutions for vulnerability management. The company's flagship product, Tenable.io, is a cloud-based platform that helps organizations identify, investigate, and prioritize vulnerabilities in their IT infrastructure. Tenable's solutions are used by a wide range of customers, including Fortune 500 companies, government agencies, and educational institutions, to protect their networks and data from cyber threats.
Insider Buy/Sell Analysis and Relationship with Stock Price
Over the past year, there have been no insider buys for Tenable Holdings Inc, while there have been 41 insider sells. This trend suggests that insiders may be taking advantage of the stock's current valuation to realize gains on their investments.
On the day of Mark Thurmond's recent sell, shares of Tenable Holdings Inc were trading at $37.54 apiece, giving the stock a market cap of $4,488.831 million. With a GuruFocus Value of $58.14, the stock has a price-to-GF-Value ratio of 0.65, indicating that it is significantly undervalued based on its GF Value.
The GF Value is an intrinsic value estimate developed by GuruFocus, which is calculated based on the following three factors:
- Historical multiples (price-earnings ratio, price-sales ratio, price-book ratio, and price-to-free cash flow) that the stock has traded at.
- A GuruFocus adjustment factor based on the company's past returns and growth.
- Future estimates of business performance from Morningstar analysts.
Despite the stock being significantly undervalued, the high number of insider sells over the past year may raise concerns for potential investors. It is essential to consider the reasons behind these insider transactions and whether they are indicative of the company's future performance or simply a result of insiders taking advantage of the current market conditions.
Conclusion
Mark Thurmond's recent sale of 2,516 shares of Tenable Holdings Inc adds to the trend of insider sells for the company over the past year. While the stock appears to be significantly undervalued based on its GF Value, potential investors should carefully consider the reasons behind the high number of insider sells and how they may impact the company's future performance.
For more information on insider trading activity and stock valuation for Tenable Holdings Inc (TENB, Financial), visit GuruFocus.com.
