Tenable Holdings, Inc.
TENB · Services-Prepackaged Software · 110.3M shares · +5%/yr ↑ shares · EDGAR filings ↗
Net buyback after stock comp: -$130M (gross $15M, SBC $145M)
Reference price $21.54 · est. market cap ~$2.4B — last insider purchase, 2026-05-04 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
B70Cybersecurity (exposure-management) SaaS — near-breakeven on GAAP but strong free cash flow.
Strengths
- Strong free cash flow — FCF $255M (60th), FCF margin 25%
- High gross margin — 78% (67th)
Risks
- GAAP near-breakeven — operating margin -1%, net margin -4%
- Thin liquidity — current ratio 0.95 (15th)
- Competition — per 10-K
Notable findings
- High convictionHigh conviction — notable institutional holders, insider buying, and a strong balance sheet
- Fund exitedNotable fund(s) exited this quarter: VANGUARD GROUP INC
- Net lossNet loss (net margin -3.6%)
- Weak liquidityCurrent ratio 0.95 (<1)
- Strong balance sheetStrong balance sheet — $402M cash & investments
- Insider buyingInsider buying — 3 open-market buy(s) by 3 insider(s) (cluster of 3 insiders, ~$616,245, last 6mo) Form 4 ↗
- Notable holderHeld by 6 notable fund(s): FMR LLC, STATE STREET CORP, GOLDMAN SACHS GROUP INC +3 more (as of 2026-03-31)
- China exposurePolitical developments or policy shifts in areas such as tariffs, export controls, including trade barriers, sanctions, technical or local content regulations, currency controls, global tax laws or ot
- AccumulatingInstitutional holders rose 8→9 QoQ (2025-12-31→2026-03-31)
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
78.1%
Operating margin
-0.9%
Net margin
-3.6%
Return on equity
-11.1%
Return on assets
-2.1%
Revenue growth (QoQ)
0.6%
Current ratio
1.0×
Free cash flow
$255M
EBITDA
$33M
Tangible book value
-$487M
Cash & investments
$402M
Stock comp / revenue
19.2%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-15 | KEANE MARGARET M | Option exercise | 3.2K | — |
| 2026-05-22 | Anschutz Barron | Option exercise | 1.3K | — |
| 2026-05-22 | Anschutz Barron | Option exercise | 1.6K | — |
| 2026-05-22 | Anschutz Barron | Tax withheld | 779 | $25.45 |
| 2026-05-22 | Anschutz Barron | Tax withheld | 602 | $25.45 |
| 2026-05-22 | Thurmond Mark C. | Option exercise | 1.2K | — |
| 2026-05-22 | Thurmond Mark C. | Tax withheld | 562 | $25.45 |
| 2026-05-22 | Thurmond Mark C. | Option exercise | 2.3K | — |
| 2026-05-22 | Thurmond Mark C. | Tax withheld | 1.1K | $25.45 |
| 2026-05-22 | Thurmond Mark C. | Option exercise | 6.1K | — |
| 2026-05-22 | Thurmond Mark C. | Tax withheld | 2.9K | $25.45 |
| 2026-05-22 | Thurmond Mark C. | Option exercise | 3.7K | — |
| 2026-05-22 | Thurmond Mark C. | Tax withheld | 1.8K | $25.45 |
| 2026-05-22 | Thurmond Mark C. | Option exercise | 7.8K | — |
| 2026-05-22 | Thurmond Mark C. | Tax withheld | 3.8K | $25.45 |
| 2026-05-22 | Thurmond Mark C. | Option exercise | 4.4K | — |
| 2026-05-22 | Thurmond Mark C. | Tax withheld | 2.1K | $25.45 |
| 2026-05-22 | Vintz Stephen A | Option exercise | 1.6K | — |
| 2026-05-22 | Vintz Stephen A | Tax withheld | 764 | $25.45 |
| 2026-05-22 | Vintz Stephen A | Option exercise | 2.3K | — |
| 2026-05-22 | Vintz Stephen A | Tax withheld | 1.1K | $25.45 |
| 2026-05-22 | Vintz Stephen A | Option exercise | 6.1K | — |
| 2026-05-22 | Vintz Stephen A | Tax withheld | 2.9K | $25.45 |
| 2026-05-22 | Vintz Stephen A | Option exercise | 5.1K | — |
| 2026-05-22 | Vintz Stephen A | Tax withheld | 2.4K | $25.45 |
| 2026-05-22 | Vintz Stephen A | Option exercise | 7.8K | — |
| 2026-05-22 | Vintz Stephen A | Tax withheld | 3.7K | $25.45 |
| 2026-05-22 | Vintz Stephen A | Option exercise | 4.5K | — |
| 2026-05-22 | Vintz Stephen A | Tax withheld | 2.2K | $25.45 |
| 2026-05-22 | Anschutz Barron | Tax withheld | 640 | $25.45 |
| 2026-05-22 | Anschutz Barron | Option exercise | 1.3K | — |
| 2026-05-21 | Brown Matthew Charles | Tax withheld | 5.2K | $25.17 |
| 2026-05-21 | Brown Matthew Charles | Option exercise | 15K | — |
| 2026-05-13 | SEAWELL A BROOKE | Option exercise | 6.1K | — |
| 2026-05-13 | Zecher Linda Kay | Option exercise | 6.1K | — |
| 2026-05-13 | Tosheff George Alex | Option exercise | 6.1K | — |
| 2026-05-13 | COVIELLO ARTHUR W JR | Option exercise | 6.1K | — |
| 2026-05-13 | Vicks Raymond Jr. | Option exercise | 6.1K | — |
| 2026-05-13 | Howe Niloofar Razi | Option exercise | 6.1K | — |
| 2026-05-13 | Huffard John C Jr | Option exercise | 6.1K | — |
| 2026-05-13 | KEANE MARGARET M | Option exercise | 6.1K | — |
| 2026-05-08 | Vintz Stephen A | Tax withheld | 61K | $21.29 |
| 2026-05-08 | Vintz Stephen A | Option exercise | 105K | $4.15 |
| 2026-05-04 | Brown Matthew Charles | Buy | 12K | $21.54 |
| 2026-04-16 | Anschutz Barron | Option exercise | 2.0K | — |
| 2026-04-16 | Anschutz Barron | Tax withheld | 972 | $19.03 |
| 2026-02-25 | Thurmond Mark C. | Tax withheld | 12K | $19.00 |
| 2026-02-25 | Vintz Stephen A | Tax withheld | 12K | $19.00 |
| 2026-02-25 | Vintz Stephen A | Option exercise | 24K | — |
| 2026-02-25 | Thurmond Mark C. | Option exercise | 24K | — |
| 2026-02-23 | Vintz Stephen A | Option exercise | 4.5K | — |
| 2026-02-23 | Anschutz Barron | Option exercise | 1.3K | — |
| 2026-02-23 | Anschutz Barron | Tax withheld | 640 | $17.55 |
| 2026-02-23 | Anschutz Barron | Option exercise | 1.3K | — |
| 2026-02-23 | Anschutz Barron | Tax withheld | 669 | $17.55 |
| 2026-02-23 | Anschutz Barron | Option exercise | 6.5K | — |
| 2026-02-23 | Anschutz Barron | Tax withheld | 3.2K | $17.55 |
| 2026-02-23 | Brown Matthew Charles | Option exercise | 15K | — |
| 2026-02-23 | Brown Matthew Charles | Tax withheld | 5.3K | $17.55 |
| 2026-02-23 | Thurmond Mark C. | Option exercise | 1.4K | — |
| 2026-02-23 | Thurmond Mark C. | Tax withheld | 401 | $17.55 |
| 2026-02-23 | Thurmond Mark C. | Option exercise | 1.2K | — |
| 2026-02-23 | Thurmond Mark C. | Tax withheld | 342 | $17.55 |
| 2026-02-23 | Thurmond Mark C. | Option exercise | 2.3K | — |
| 2026-02-23 | Thurmond Mark C. | Tax withheld | 666 | $17.55 |
| 2026-02-23 | Thurmond Mark C. | Option exercise | 3.9K | — |
| 2026-02-23 | Thurmond Mark C. | Tax withheld | 1.9K | $17.55 |
| 2026-02-23 | Thurmond Mark C. | Option exercise | 3.7K | — |
| 2026-02-23 | Thurmond Mark C. | Tax withheld | 1.1K | $17.55 |
| 2026-02-23 | Thurmond Mark C. | Option exercise | 47K | — |
| 2026-02-23 | Thurmond Mark C. | Tax withheld | 16K | $17.55 |
| 2026-02-23 | Thurmond Mark C. | Option exercise | 4.4K | — |
| 2026-02-23 | Thurmond Mark C. | Tax withheld | 1.3K | $17.55 |
| 2026-02-23 | Vintz Stephen A | Option exercise | 1.9K | — |
| 2026-02-23 | Vintz Stephen A | Tax withheld | 619 | $17.55 |
| 2026-02-23 | Vintz Stephen A | Option exercise | 1.6K | — |
| 2026-02-23 | Vintz Stephen A | Tax withheld | 524 | $17.55 |
| 2026-02-23 | Vintz Stephen A | Option exercise | 2.3K | — |
| 2026-02-23 | Vintz Stephen A | Tax withheld | 771 | $17.55 |
| 2026-02-23 | Vintz Stephen A | Option exercise | 5.3K | — |
| 2026-02-23 | Vintz Stephen A | Tax withheld | 2.5K | $17.55 |
| 2026-02-23 | Vintz Stephen A | Option exercise | 5.1K | — |
| 2026-02-23 | Vintz Stephen A | Tax withheld | 1.7K | $17.55 |
| 2026-02-23 | Vintz Stephen A | Option exercise | 47K | — |
| 2026-02-23 | Vintz Stephen A | Tax withheld | 17K | $17.55 |
| 2026-02-23 | Vintz Stephen A | Tax withheld | 1.5K | $17.55 |
| 2026-02-23 | Anschutz Barron | Option exercise | 1.4K | — |
| 2026-02-23 | Anschutz Barron | Tax withheld | 666 | $17.55 |
| 2026-02-12 | Vicks Raymond Jr. | Buy | 4.5K | $22.17 |
| 2026-02-09 | COVIELLO ARTHUR W JR | Buy | 12K | $21.50 |
| 2026-01-16 | Anschutz Barron | Option exercise | 2.0K | — |
| 2026-01-16 | Anschutz Barron | Tax withheld | 1.1K | $22.12 |
| 2025-12-15 | SEAWELL A BROOKE | Sell | 115K | $24.82 |
| 2025-12-15 | SEAWELL A BROOKE | Option exercise | 115K | $9.66 |
| 2025-11-24 | Thurmond Mark C. | Option exercise | 4.4K | — |
| 2025-11-24 | Thurmond Mark C. | Option exercise | 1.4K | — |
| 2025-11-24 | Thurmond Mark C. | Tax withheld | 660 | $25.68 |
| 2025-11-24 | Thurmond Mark C. | Option exercise | 1.2K | — |
| 2025-11-24 | Thurmond Mark C. | Tax withheld | 562 | $25.68 |
| 2025-11-24 | Thurmond Mark C. | Option exercise | 2.3K | — |
| 2025-11-24 | Thurmond Mark C. | Tax withheld | 1.1K | $25.68 |
| 2025-11-24 | Thurmond Mark C. | Option exercise | 3.9K | — |
| 2025-11-24 | Thurmond Mark C. | Tax withheld | 1.9K | $25.68 |
| 2025-11-24 | Thurmond Mark C. | Option exercise | 3.7K | — |
| 2025-11-24 | Thurmond Mark C. | Tax withheld | 1.8K | $25.68 |
| 2025-11-24 | Thurmond Mark C. | Tax withheld | 2.1K | $25.68 |
| 2025-11-24 | Vintz Stephen A | Option exercise | 1.9K | — |
| 2025-11-24 | Vintz Stephen A | Tax withheld | 899 | $25.68 |
| 2025-11-24 | Vintz Stephen A | Option exercise | 1.6K | — |
| 2025-11-24 | Vintz Stephen A | Tax withheld | 763 | $25.68 |
| 2025-11-24 | Vintz Stephen A | Option exercise | 2.3K | — |
| 2025-11-24 | Vintz Stephen A | Tax withheld | 1.1K | $25.68 |
| 2025-11-24 | Vintz Stephen A | Option exercise | 5.3K | — |
| 2025-11-24 | Vintz Stephen A | Tax withheld | 2.5K | $25.68 |
| 2025-11-24 | Vintz Stephen A | Option exercise | 5.1K | — |
| 2025-11-24 | Vintz Stephen A | Tax withheld | 2.4K | $25.68 |
| 2025-11-24 | Vintz Stephen A | Option exercise | 4.5K | — |
| 2025-11-24 | Vintz Stephen A | Tax withheld | 2.2K | $25.68 |
| 2025-11-24 | Anschutz Barron | Option exercise | 1.4K | — |
| 2025-11-24 | Anschutz Barron | Tax withheld | 666 | $25.68 |
| 2025-11-24 | Anschutz Barron | Option exercise | 1.3K | — |
| 2025-11-24 | Anschutz Barron | Tax withheld | 640 | $25.68 |
| 2025-11-24 | Anschutz Barron | Option exercise | 1.3K | — |
| 2025-11-24 | Anschutz Barron | Tax withheld | 602 | $25.68 |
| 2025-11-21 | Brown Matthew Charles | Option exercise | 15K | — |
| 2025-11-21 | Brown Matthew Charles | Tax withheld | 5.3K | $26.06 |
| 2025-10-17 | Anschutz Barron | Sell | 976 | $29.10 |
| 2025-10-16 | Anschutz Barron | Option exercise | 2.0K | — |
| 2025-09-29 | Tosheff George Alex | Option exercise | 3.3K | — |
| 2025-09-09 | SEAWELL A BROOKE | Sell | 15K | $30.80 |
| 2025-09-05 | Vicks Raymond Jr. | Gift | 1.5K | — |
| 2025-09-05 | Vicks Raymond Jr. | Gift | 1.5K | — |
| 2025-09-04 | SEAWELL A BROOKE | Sell | 4.6K | $30.12 |
| 2025-08-26 | Vintz Stephen A | Sell | 3.5K | $29.84 |
| 2025-08-26 | Thurmond Mark C. | Sell | 2.5K | $29.84 |
| 2025-08-26 | Anschutz Barron | Sell | 670 | $29.84 |
| 2025-08-25 | Anschutz Barron | Option exercise | 1.4K | — |
| 2025-08-25 | Anschutz Barron | Sell | 1.3K | $30.25 |
| 2025-08-25 | Vintz Stephen A | Sell | 29K | $30.25 |
| 2025-08-25 | Vintz Stephen A | Option exercise | 1.9K | — |
| 2025-08-25 | Vintz Stephen A | Option exercise | 5.3K | — |
| 2025-08-25 | Thurmond Mark C. | Sell | 28K | $30.25 |
| 2025-08-25 | Thurmond Mark C. | Option exercise | 1.4K | — |
| 2025-08-25 | Thurmond Mark C. | Option exercise | 3.9K | — |
| 2025-08-22 | Thurmond Mark C. | Option exercise | 2.3K | — |
| 2025-08-22 | Thurmond Mark C. | Option exercise | 3.7K | — |
| 2025-08-22 | Thurmond Mark C. | Option exercise | 47K | — |
| 2025-08-22 | Thurmond Mark C. | Option exercise | 4.4K | — |
| 2025-08-22 | Anschutz Barron | Option exercise | 1.3K | — |
| 2025-08-22 | Anschutz Barron | Option exercise | 1.3K | — |
| 2025-08-22 | Vintz Stephen A | Option exercise | 1.6K | — |
| 2025-08-22 | Vintz Stephen A | Option exercise | 2.3K | — |
| 2025-08-22 | Vintz Stephen A | Option exercise | 5.1K | — |
| 2025-08-22 | Vintz Stephen A | Option exercise | 47K | — |
| 2025-08-22 | Vintz Stephen A | Option exercise | 4.5K | — |
| 2025-08-22 | Thurmond Mark C. | Option exercise | 1.2K | — |
| 2025-07-17 | Anschutz Barron | Sell | 970 | $33.08 |
| 2025-07-16 | Anschutz Barron | Option exercise | 2.0K | — |
| 2025-06-13 | KEANE MARGARET M | Option exercise | 3.2K | — |
| 2025-05-27 | Thurmond Mark C. | Sell | 2.5K | $32.45 |
| 2025-05-27 | Vintz Stephen A | Sell | 3.4K | $32.45 |
| 2025-05-27 | Anschutz Barron | Sell | 655 | $32.45 |
| 2025-05-23 | Thurmond Mark C. | Option exercise | 3.9K | — |
| 2025-05-23 | Thurmond Mark C. | Sell | 5.6K | $31.98 |
| 2025-05-23 | Vintz Stephen A | Option exercise | 1.9K | — |
| 2025-05-23 | Anschutz Barron | Sell | 1.2K | $31.98 |
| 2025-05-23 | Anschutz Barron | Option exercise | 1.4K | — |
| 2025-05-23 | Vintz Stephen A | Sell | 6.5K | $31.98 |
| 2025-05-23 | Vintz Stephen A | Option exercise | 5.3K | — |
| 2025-05-23 | Thurmond Mark C. | Option exercise | 1.4K | — |
| 2025-05-22 | Vintz Stephen A | Option exercise | 5.1K | — |
| 2025-05-22 | Thurmond Mark C. | Option exercise | 1.2K | — |
| 2025-05-22 | Thurmond Mark C. | Option exercise | 2.3K | — |
| 2025-05-22 | Thurmond Mark C. | Option exercise | 3.7K | — |
| 2025-05-22 | Thurmond Mark C. | Option exercise | 4.4K | — |
| 2025-05-22 | Vintz Stephen A | Option exercise | 1.6K | — |
| 2025-05-22 | Vintz Stephen A | Option exercise | 2.3K | — |
| 2025-05-22 | Vintz Stephen A | Option exercise | 4.5K | — |
| 2025-05-22 | Anschutz Barron | Option exercise | 1.3K | — |
| 2025-05-22 | Anschutz Barron | Option exercise | 1.3K | — |
| 2025-05-14 | Tosheff George Alex | Option exercise | 4.6K | — |
| 2025-05-14 | COVIELLO ARTHUR W JR | Option exercise | 4.6K | — |
| 2025-05-14 | Huffard John C Jr | Option exercise | 4.6K | — |
| 2025-05-14 | Vicks Raymond Jr. | Option exercise | 4.6K | — |
| 2025-05-14 | SEAWELL A BROOKE | Option exercise | 4.6K | — |
| 2025-05-14 | Zecher Linda Kay | Option exercise | 4.6K | — |
| 2025-05-14 | Howe Niloofar Razi | Option exercise | 4.6K | — |
| 2025-05-14 | KEANE MARGARET M | Option exercise | 4.6K | — |
| 2025-03-11 | Zecher Linda Kay | Sell | 2.5K | $37.00 |
| 2025-02-28 | Anschutz Barron | Grant | 624 | $32.42 |
| 2025-02-28 | Anschutz Barron | Sell | 4.4K | $37.59 |
| 2025-02-27 | Vintz Stephen A | Sell | 6.7K | $38.16 |
| 2025-02-27 | Thurmond Mark C. | Sell | 6.0K | $38.16 |
| 2025-02-26 | Vintz Stephen A | Sell | 6.3K | $38.19 |
| 2025-02-26 | Thurmond Mark C. | Sell | 4.9K | $38.19 |
| 2025-02-25 | Thurmond Mark C. | Sell | 3.6K | $38.48 |
| 2025-02-25 | Vintz Stephen A | Sell | 4.6K | $38.48 |
| 2025-02-24 | Thurmond Mark C. | Option exercise | 1.4K | — |
| 2025-02-24 | Vintz Stephen A | Option exercise | 1.9K | — |
| 2025-02-24 | Vintz Stephen A | Option exercise | 1.6K | — |
| 2025-02-24 | Vintz Stephen A | Option exercise | 9.4K | — |
| 2025-02-24 | Vintz Stephen A | Option exercise | 5.3K | — |
| 2025-02-24 | Vintz Stephen A | Option exercise | 5.1K | — |
| 2025-02-24 | Vintz Stephen A | Option exercise | 18K | — |
| 2025-02-24 | Thurmond Mark C. | Option exercise | 1.2K | — |
| 2025-02-24 | Thurmond Mark C. | Option exercise | 9.1K | — |
| 2025-02-24 | Thurmond Mark C. | Option exercise | 3.9K | — |
| 2025-02-24 | Thurmond Mark C. | Option exercise | 3.7K | — |
| 2025-02-24 | Thurmond Mark C. | Option exercise | 17K | — |
| 2025-02-24 | Anschutz Barron | Option exercise | 5.0K | — |
| 2025-02-24 | Anschutz Barron | Option exercise | 1.3K | — |
| 2025-02-24 | Anschutz Barron | Option exercise | 1.4K | — |
| 2025-02-19 | Vintz Stephen A | Sell | 1.9K | $39.56 |
| 2025-02-19 | Thurmond Mark C. | Sell | 1.3K | $39.56 |
| 2025-02-18 | Thurmond Mark C. | Option exercise | 4.6K | — |
| 2025-02-18 | Vintz Stephen A | Option exercise | 5.8K | — |
| 2025-01-08 | Vicks Raymond Jr. | Sell | 809 | $38.52 |
| 2025-01-07 | Vicks Raymond Jr. | Option exercise | 2.7K | — |
All non-derivative Form 4 activity (SEC), newest first.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-05-21 | Reg FDExhibits | filing ↗ |
| 2026-05-13 | Shareholder vote | filing ↗ |
| 2026-04-29 | ResultsExhibits | filing ↗ |
| 2026-02-04 | ResultsOtherExhibits | filing ↗ |
| 2025-10-29 | ResultsExhibits | filing ↗ |
| 2025-08-21 | Exec/director changeReg FDExhibits | filing ↗ |
| 2025-07-30 | ResultsOtherExhibits | filing ↗ |
| 2025-05-14 | Exec/director changeShareholder vote | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-05-21 | 2026-05-21 | 0001660280-26-000030 ↗ |
| 8-K | 2026-05-13 | 2026-05-13 | 0001660280-26-000026 ↗ |
| 10-Q | 2026-05-05 | 2026-03-31 | 0001660280-26-000023 ↗ |
| 8-K | 2026-04-29 | 2026-04-29 | 0001660280-26-000020 ↗ |
| 10-K | 2026-02-27 | 2025-12-31 | 0001660280-26-000005 ↗ |
| 8-K | 2026-02-04 | 2026-02-04 | 0001660280-26-000004 ↗ |
| 10-Q | 2025-11-04 | 2025-09-30 | 0001660280-25-000128 ↗ |
| 8-K | 2025-10-29 | 2025-10-29 | 0001660280-25-000125 ↗ |
| 8-K | 2025-08-21 | 2025-08-19 | 0001660280-25-000095 ↗ |
| 10-Q | 2025-08-08 | 2025-06-30 | 0001660280-25-000090 ↗ |
| 8-K | 2025-07-30 | 2025-07-30 | 0001660280-25-000087 ↗ |
| 8-K | 2025-05-14 | 2025-05-14 | 0001628280-25-025526 ↗ |