Tenable (NASDAQ:TENB) Trading Down 4%

Tenable Holdings, Inc. (NASDAQ:TENB) dropped 4% during trading on Tuesday . The stock traded as low as $40.12 and last traded at $40.12. Approximately 29,246 shares were traded during trading, a decline of 97% from the average daily volume of 968,983 shares. The stock had previously closed at $41.77.

Analyst Upgrades and Downgrades

TENB has been the topic of several research analyst reports. Scotiabank decreased their target price on shares of Tenable from $47.00 to $44.00 and set a “sector perform” rating on the stock in a research report on Thursday, August 1st. Canaccord Genuity Group decreased their price objective on shares of Tenable from $57.00 to $53.00 and set a “buy” rating on the stock in a research report on Thursday, August 1st. Wells Fargo & Company decreased their price objective on shares of Tenable from $60.00 to $50.00 and set an “overweight” rating on the stock in a research report on Thursday, August 1st. Susquehanna decreased their price objective on shares of Tenable from $60.00 to $48.00 and set a “positive” rating on the stock in a research report on Thursday, August 1st. Finally, Piper Sandler decreased their price objective on shares of Tenable from $60.00 to $55.00 and set an “overweight” rating on the stock in a research report on Thursday, August 1st. Four research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Tenable has an average rating of “Moderate Buy” and an average price target of $53.00.

Tenable Trading Down 0.4 %

The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 1.00. The business’s 50 day moving average is $42.39 and its 200-day moving average is $45.44. The firm has a market cap of $4.75 billion, a P/E ratio of -69.41 and a beta of 0.86.

Insider Activity

In other Tenable news, Director Yoran Amit 70,000 shares of Tenable stock in a transaction dated Tuesday, July 30th. The was disclosed in a legal filing with the SEC, which is available through this link. In related news, CEO Amit Yoran sold 40,000 shares of the company’s stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $47.72, for a total value of $1,908,800.00. Following the completion of the transaction, the chief executive officer now directly owns 387,356 shares in the company, valued at $18,484,628.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Yoran Amit 70,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 30th. The disclosure for this trade can be found here. Insiders have sold 64,132 shares of company stock worth $2,957,983 in the last 90 days. Company insiders own 4.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of TENB. Norges Bank acquired a new position in Tenable during the fourth quarter worth $56,568,000. Readystate Asset Management LP acquired a new position in Tenable during the fourth quarter worth $32,199,000. First Trust Advisors LP grew its holdings in shares of Tenable by 18.0% during the fourth quarter. First Trust Advisors LP now owns 4,452,555 shares of the company’s stock worth $205,085,000 after purchasing an additional 680,477 shares during the last quarter. Champlain Investment Partners LLC boosted its holdings in Tenable by 59.5% in the first quarter. Champlain Investment Partners LLC now owns 1,591,147 shares of the company’s stock valued at $78,650,000 after acquiring an additional 593,529 shares during the last quarter. Finally, William Blair Investment Management LLC boosted its holdings in Tenable by 20.2% during the first quarter. William Blair Investment Management LLC now owns 3,491,301 shares of the company’s stock worth $172,575,000 after buying an additional 585,559 shares during the last quarter. 89.06% of the stock is currently owned by institutional investors and hedge funds.

Tenable Company Profile

Tenable Holdings, Inc provides cyber exposure solutions for in the Americas, Europe, the Middle East, Africa, the Asia Pacific, and Japan. Its platforms include Tenable Vulnerability Management, a cloud-delivered software as a service that provides organizations with a risk-based view of traditional and modern attack surfaces; Tenable Cloud Security, a cloud-native cloud security solutions for security teams to continuously assess the security posture; Tenable Identity Exposure, a solution to secure Active Directory environments; Tenable Web App Scanning, which provides scanning for modern web applications; Tenable Lumin Exposure View, a measurement tool; Tenable Attack Surface Management, an external attack surface management solution; Tenable Security Center, an on-premises solution that provides a risk-based view of an organization's IT, security and compliance posture; and Tenable OT Security, an operational technology security solution which provides threat detection, asset tracking, vulnerability management, and configuration control capabilities.