Pinnacle Associates Ltd. Increases Stock Position in Tenable Holdings, Inc. (NASDAQ:TENB)

Pinnacle Associates Ltd. grew its position in Tenable Holdings, Inc. (NASDAQ:TENB) by 1.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 294,080 shares of the company’s stock after purchasing an additional 3,004 shares during the period. Pinnacle Associates Ltd.’s holdings in Tenable were worth $11,916,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in TENB. Diversified Trust Co raised its holdings in shares of Tenable by 85.0% in the first quarter. Diversified Trust Co now owns 12,766 shares of the company’s stock valued at $631,000 after purchasing an additional 5,865 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Tenable by 9.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 3,708 shares of the company’s stock worth $183,000 after buying an additional 312 shares during the last quarter. Principal Financial Group Inc. increased its holdings in Tenable by 18.6% during the first quarter. Principal Financial Group Inc. now owns 15,654 shares of the company’s stock worth $774,000 after buying an additional 2,459 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in Tenable by 16.4% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 932,384 shares of the company’s stock worth $46,088,000 after buying an additional 131,117 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its holdings in Tenable by 16.4% during the first quarter. BNP Paribas Financial Markets now owns 144,697 shares of the company’s stock worth $7,152,000 after buying an additional 20,432 shares during the last quarter. Hedge funds and other institutional investors own 89.06% of the company’s stock.

Insider Buying and Selling at Tenable

In other Tenable news, CEO Amit Yoran sold 5,673 shares of Tenable stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $41.75, for a total transaction of $236,847.75. Following the completion of the sale, the chief executive officer now directly owns 39,309 shares in the company, valued at $1,641,150.75. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Tenable news, COO Mark C. Thurmond sold 3,383 shares of Tenable stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $41.66, for a total transaction of $140,935.78. Following the completion of the sale, the chief operating officer now directly owns 34,079 shares in the company, valued at $1,419,731.14. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Amit Yoran sold 5,673 shares of Tenable stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $41.75, for a total transaction of $236,847.75. Following the sale, the chief executive officer now owns 39,309 shares of the company’s stock, valued at approximately $1,641,150.75. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 12,469 shares of company stock worth $520,276 over the last three months. 4.30% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Truist Financial restated a “buy” rating and set a $55.00 price objective (down previously from $60.00) on shares of Tenable in a report on Thursday, August 1st. Stifel Nicolaus decreased their price objective on shares of Tenable from $54.00 to $52.00 and set a “buy” rating for the company in a report on Thursday, August 1st. Baird R W upgraded shares of Tenable to a “strong-buy” rating in a report on Monday, July 15th. Jefferies Financial Group initiated coverage on shares of Tenable in a research report on Wednesday, October 16th. They set a “hold” rating and a $45.00 target price for the company. Finally, Needham & Company LLC reiterated a “buy” rating and set a $50.00 target price on shares of Tenable in a research report on Tuesday. Five investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $51.38.

Tenable Price Performance

TENB stock opened at $41.23 on Thursday. The firm has a 50 day moving average of $40.83 and a 200-day moving average of $42.27. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.98. Tenable Holdings, Inc. has a 12 month low of $33.85 and a 12 month high of $53.50. The firm has a market capitalization of $4.91 billion, a P/E ratio of -73.63 and a beta of 0.83.

Tenable (NASDAQ:TENB) last released its quarterly earnings data on Wednesday, July 31st. The company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.03. Tenable had a negative net margin of 7.77% and a negative return on equity of 7.63%. The company had revenue of $221.24 million during the quarter, compared to analyst estimates of $218.41 million. As a group, sell-side analysts predict that Tenable Holdings, Inc. will post -0.06 earnings per share for the current fiscal year.

Tenable 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.