Balyasny Asset Management L.P. Makes New Investment in Tenable Holdings, Inc. (NASDAQ:TENB)

Balyasny Asset Management L.P. bought a new position in Tenable Holdings, Inc. (NASDAQ:TENB - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 93,594 shares of the company's stock, valued at approximately $3,686,000. Balyasny Asset Management L.P. owned about 0.08% of Tenable as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Barclays PLC increased its position in shares of Tenable by 31.9% during the 3rd quarter. Barclays PLC now owns 731,626 shares of the company's stock worth $29,646,000 after purchasing an additional 177,048 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of Tenable during the 4th quarter worth about $15,653,000. Nisa Investment Advisors LLC increased its position in shares of Tenable by 74.1% during the 4th quarter. Nisa Investment Advisors LLC now owns 2,753 shares of the company's stock worth $108,000 after purchasing an additional 1,172 shares during the last quarter. KBC Group NV increased its position in shares of Tenable by 44.1% during the 4th quarter. KBC Group NV now owns 4,733 shares of the company's stock worth $186,000 after purchasing an additional 1,449 shares during the last quarter. Finally, Pacer Advisors Inc. increased its position in shares of Tenable by 30.3% during the 4th quarter. Pacer Advisors Inc. now owns 2,823 shares of the company's stock worth $111,000 after purchasing an additional 657 shares during the last quarter. 89.06% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. UBS Group cut their price objective on Tenable from $47.00 to $40.00 and set a "buy" rating for the company in a research report on Wednesday, April 30th. DA Davidson cut their price objective on Tenable from $45.00 to $28.00 and set a "neutral" rating for the company in a research report on Wednesday, April 30th. Truist Financial lowered their target price on Tenable from $48.00 to $45.00 and set a "buy" rating for the company in a report on Monday, March 31st. Wells Fargo & Company lowered their target price on Tenable from $50.00 to $40.00 and set an "overweight" rating for the company in a report on Wednesday, April 30th. Finally, Barclays lowered their target price on Tenable from $40.00 to $33.00 and set an "equal weight" rating for the company in a report on Wednesday, April 30th. Eight equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $40.44.

Insider Buying and Selling

In related news, CEO Mark C. Thurmond sold 3,606 shares of the business's stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $38.48, for a total transaction of $138,758.88. Following the completion of the sale, the chief executive officer now owns 74,295 shares in the company, valued at $2,858,871.60. The trade was a 4.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Linda Kay Zecher sold 2,500 shares of Tenable stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $37.00, for a total value of $92,500.00. Following the transaction, the director now directly owns 353 shares in the company, valued at approximately $13,061. This trade represents a 87.63% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 14,128 shares of company stock worth $539,256 over the last 90 days. 1.50% of the stock is owned by insiders.

Tenable Stock Down 0.6%

Shares of TENB traded down $0.21 during midday trading on Friday, hitting $32.90. The company had a trading volume of 739,722 shares, compared to its average volume of 1,050,761. The company's 50-day simple moving average is $33.44 and its 200-day simple moving average is $38.17. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.28 and a current ratio of 1.28. The firm has a market capitalization of $4.02 billion, a P/E ratio of -109.67 and a beta of 0.83. Tenable Holdings, Inc. has a 1 year low of $28.75 and a 1 year high of $49.18.

Tenable (NASDAQ:TENB - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.08. The business had revenue of $239.14 million during the quarter, compared to analysts' expectations of $234.12 million. Tenable had a negative return on equity of 2.07% and a negative net margin of 4.03%. The business's quarterly revenue was up 10.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.25 EPS. As a group, sell-side analysts expect that Tenable Holdings, Inc. will post 0.12 EPS for the current year.

About Tenable

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.