Allianz Asset Management GmbH Makes New Investment in Tenable Holdings, Inc. (NASDAQ:TENB)

Key Points

• Allianz Asset Management GmbH has acquired a stake in Tenable Holdings, purchasing 9,600 shares valued at approximately $336,000 during the first quarter of the year.
• Insider selling occurred with both CEO Mark C. Thurmond and CEO Stephen A. Vintz offloading shares, indicating a decrease in their ownership stakes following these transactions.
• Several research firms have updated their ratings and price targets for Tenable, with consensus ratings showing a mix of hold and buy positions, and a current target price of $41.06.

Allianz Asset Management GmbH purchased a new stake in shares of Tenable Holdings, Inc. (NASDAQ:TENB - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 9,600 shares of the company's stock, valued at approximately $336,000.

Other hedge funds have also added to or reduced their stakes in the company. Kayne Anderson Rudnick Investment Management LLC acquired a new position in shares of Tenable in the fourth quarter worth approximately $35,000. Byrne Asset Management LLC lifted its stake 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 worth $47,000 after acquiring an additional 727 shares during the period. Johnson Financial Group Inc. acquired a new position in shares of Tenable in the fourth quarter worth approximately $53,000. Quarry LP lifted its stake in shares of Tenable by 307.1% in the fourth quarter. Quarry LP now owns 2,650 shares of the company's stock worth $104,000 after acquiring an additional 1,999 shares during the period. Finally, KBC Group NV lifted its stake in shares of Tenable by 19.4% in the first quarter. KBC Group NV now owns 5,652 shares of the company's stock worth $198,000 after acquiring an additional 919 shares during the period. Institutional investors and hedge funds own 89.06% of the company's stock.

Tenable Price Performance

Shares of TENB stock traded down $0.88 during trading hours on Thursday, reaching $29.18. 682,379 shares of the company were exchanged, compared to its average volume of 1,397,672. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.04 and a quick ratio of 1.04. The company has a market cap of $3.56 billion, a price-to-earnings ratio of -78.52 and a beta of 0.76. The stock's fifty day moving average is $32.79 and its two-hundred day moving average is $34.87. Tenable Holdings, Inc. has a fifty-two week low of $28.75 and a fifty-two week high of $45.44.

Tenable (NASDAQ:TENB - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.04. Tenable had a negative net margin of 4.74% and a negative return on equity of 3.22%. The company had revenue of $247.30 million for the quarter, compared to analyst estimates of $242.15 million. During the same period in the prior year, the firm earned $0.31 earnings per share. The company's revenue was up 11.8% on a year-over-year basis. Sell-side analysts forecast that Tenable Holdings, Inc. will post 0.12 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on TENB shares. Westpark Capital restated a "hold" rating on shares of Tenable in a report on Wednesday, April 30th. Scotiabank lifted their price objective on Tenable from $30.00 to $37.00 and gave the stock a "sector perform" rating in a research report on Thursday, July 31st. DA Davidson lifted their price objective on Tenable from $32.00 to $34.00 and gave the company a "neutral" rating in a research note on Thursday, July 31st. Needham & Company LLC upped their price objective on Tenable from $35.00 to $42.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. Finally, JPMorgan Chase & Co. dropped their price objective on Tenable from $53.00 to $43.00 and set an "overweight" rating for the company in a research note on Monday, April 28th. Eight investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $41.06.

Insider Transactions at Tenable

In other Tenable news, CEO Mark C. Thurmond sold 5,577 shares of the company's stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $31.98, for a total transaction of $178,352.46. Following the sale, the chief executive officer directly owned 75,210 shares of the company's stock, valued at $2,405,215.80. This represents a 6.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Stephen A. Vintz sold 6,499 shares of the stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $31.98, for a total transaction of $207,838.02. Following the completion of the sale, the chief executive officer directly owned 331,394 shares in the company, valued at approximately $10,597,980.12. The trade was a 1.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 20,815 shares of company stock worth $669,797. Company insiders own 1.50% of the company's stock.

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.