Acadian Asset Management LLC Purchases 28,881 Shares of Tenable Holdings, Inc. $TENB

Key Points

• Acadian Asset Management LLC dramatically increased its position in Tenable Holdings, Inc. by 3,252.4% in Q1, acquiring nearly 29,800 shares, which are valued at over $1 million.
• Tenable reported a quarterly earnings per share (EPS) of $0.34, exceeding estimates and showcasing an 11.8% year-over-year revenue growth of $247.3 million.
• Analyst reports show a positive trend for Tenable, with price upgrades from several firms, including Wedbush and Scotiabank, suggesting an average price target of $41.06 and a consensus rating of "Moderate Buy."

Acadian Asset Management LLC grew its stake in shares of Tenable Holdings, Inc. (NASDAQ:TENB - Free Report) by 3,252.4% in the first quarter, according to its most recent filing with the SEC. The fund owned 29,769 shares of the company's stock after acquiring an additional 28,881 shares during the period. Acadian Asset Management LLC's holdings in Tenable were worth $1,038,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Xponance Inc. lifted its holdings in shares of Tenable by 6.6% in the first quarter. Xponance Inc. now owns 9,021 shares of the company's stock valued at $316,000 after purchasing an additional 562 shares in the last quarter. Tidal Investments LLC lifted its holdings in shares of Tenable by 1.8% in the fourth quarter. Tidal Investments LLC now owns 32,082 shares of the company's stock valued at $1,263,000 after purchasing an additional 564 shares in the last quarter. Fiera Capital Corp lifted its holdings in shares of Tenable by 1.1% in the first quarter. Fiera Capital Corp now owns 59,626 shares of the company's stock valued at $2,086,000 after purchasing an additional 651 shares in the last quarter. Amundi lifted its holdings in shares of Tenable by 1.2% in the first quarter. Amundi now owns 58,149 shares of the company's stock valued at $1,939,000 after purchasing an additional 676 shares in the last quarter. Finally, Byrne Asset Management LLC lifted its holdings in shares of Tenable by 115.4% in the first quarter. Byrne Asset Management LLC now owns 1,357 shares of the company's stock valued at $47,000 after purchasing an additional 727 shares in the last quarter. Institutional investors and hedge funds own 89.06% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Stifel Nicolaus increased their target price on Tenable from $30.00 to $35.00 and gave the company a "hold" rating in a report on Thursday, July 31st. Barclays increased their price objective on Tenable from $33.00 to $39.00 and gave the stock an "equal weight" rating in a report on Monday, July 14th. Wedbush increased their price objective on Tenable from $40.00 to $42.00 and gave the stock an "outperform" rating in a report on Thursday, July 31st. Needham & Company LLC increased their price objective on Tenable from $35.00 to $42.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. Finally, Wall Street Zen upgraded Tenable from a "buy" rating to a "strong-buy" rating in a report on Saturday, September 13th. Nine equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. Based on data from MarketBeat, Tenable has an average rating of "Moderate Buy" and an average price target of $41.06.

Tenable Stock Down 0.5%

Tenable stock traded down $0.15 during mid-day trading on Friday, hitting $30.23. 2,886,721 shares of the company's stock were exchanged, compared to its average volume of 1,419,583. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.01. The stock has a market cap of $3.66 billion, a P/E ratio of -81.70 and a beta of 0.73. Tenable Holdings, Inc. has a 1-year low of $28.51 and a 1-year high of $45.44. The stock has a 50 day moving average of $30.97 and a two-hundred day moving average of $32.48.

Tenable (NASDAQ:TENB - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.30 by $0.04. The firm had revenue of $247.30 million for the quarter, compared to the consensus estimate of $242.15 million. Tenable had a negative net margin of 4.74% and a negative return on equity of 3.32%. The business's quarterly revenue was up 11.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.31 earnings per share. Tenable has set its FY 2025 guidance at 1.450-1.530 EPS. Q3 2025 guidance at 0.360-0.370 EPS. As a group, analysts anticipate that Tenable Holdings, Inc. will post 0.12 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Barron Anschutz sold 1,261 shares of the firm's stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $30.25, for a total value of $38,145.25. Following the sale, the insider directly owned 59,645 shares of the company's stock, valued at approximately $1,804,261.25. This trade represents a 2.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Stephen A. Vintz sold 29,196 shares of the firm's stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $30.25, for a total value of $883,179.00. Following the completion of the sale, the chief executive officer directly owned 358,949 shares in the company, valued at approximately $10,858,207.25. This represents a 7.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 64,549 shares of company stock valued at $1,954,751. 1.50% of the stock is owned by company insiders.

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.