Alyeska Investment Group L.P. Reduces Stock Holdings in Tenable Holdings, Inc. $TENB

Key Points

• Alyeska Investment Group L.P. has significantly reduced its stake in Tenable Holdings, Inc. by 72.1%, selling 300,869 shares and now holding only 116,259 shares, valued at approximately $4.07 million.
• Several other institutional investors are adjusting their positions in Tenable, with Cubist Systematic Strategies LLC increasing its stake by 828.5% to own 432,564 shares, valued at $15.13 million.
• Analysts have raised their price targets for Tenable, with Needham & Company setting a target of $42.00 and Wells Fargo increasing it to $45.00, as the company recently beat earnings estimates in its quarterly results.

Alyeska Investment Group L.P. reduced its stake in Tenable Holdings, Inc. (NASDAQ:TENB - Free Report) by 72.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 116,259 shares of the company's stock after selling 300,869 shares during the period. Alyeska Investment Group L.P. owned approximately 0.10% of Tenable worth $4,067,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Xponance Inc. increased its stake in Tenable by 6.6% in the 1st quarter. Xponance Inc. now owns 9,021 shares of the company's stock worth $316,000 after acquiring an additional 562 shares during the last quarter. Tidal Investments LLC boosted its position in shares of Tenable by 1.8% during the 4th quarter. Tidal Investments LLC now owns 32,082 shares of the company's stock valued at $1,263,000 after acquiring an additional 564 shares during the last quarter. Fiera Capital Corp grew its holdings in shares of Tenable by 1.1% during the first quarter. Fiera Capital Corp now owns 59,626 shares of the company's stock worth $2,086,000 after purchasing an additional 651 shares in the last quarter. Byrne Asset Management LLC increased its position 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 purchasing an additional 727 shares during the last quarter. Finally, KBC Group NV raised its stake in Tenable by 19.4% in the first quarter. KBC Group NV now owns 5,652 shares of the company's stock valued at $198,000 after purchasing an additional 919 shares in the last quarter. 89.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Stephen A. Vintz sold 29,196 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 $883,179.00. Following the sale, the chief executive officer directly owned 358,949 shares of the company's stock, valued at $10,858,207.25. This trade represents a 7.52% 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, Director A Brooke Seawell sold 4,622 shares of the business's stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $30.12, for a total value of $139,214.64. Following the transaction, the director owned 15,000 shares in the company, valued at approximately $451,800. This represents a 23.56% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 64,549 shares of company stock worth $1,954,751 over the last ninety days. 1.50% of the stock is owned by insiders.

Tenable Trading Up 2.0%

TENB stock traded up $0.60 during midday trading on Thursday, hitting $30.54. The company had a trading volume of 1,155,158 shares, compared to its average volume of 1,357,317. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.01. Tenable Holdings, Inc. has a 52 week low of $28.51 and a 52 week high of $45.44. The stock's 50 day moving average price is $31.49 and its 200 day moving average price is $32.89. The stock has a market cap of $3.70 billion, a price-to-earnings ratio of -82.54 and a beta of 0.73.

Tenable (NASDAQ:TENB - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $0.34 earnings per share (EPS) for the quarter, topping 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 3.32%. The firm had revenue of $247.30 million for the quarter, compared to analysts' expectations of $242.15 million. During the same quarter last year, the business earned $0.31 earnings per share. The business's revenue was up 11.8% on a year-over-year basis. 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, equities research analysts expect that Tenable Holdings, Inc. will post 0.12 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have commented on TENB. Wells Fargo & Company reissued an "overweight" rating and issued a $45.00 price target (up previously from $40.00) on shares of Tenable in a research note on Thursday, July 31st. Jefferies Financial Group reaffirmed a "hold" rating and set a $38.00 price objective (up from $37.00) on shares of Tenable in a report on Thursday, July 31st. Needham & Company LLC increased their target price on Tenable from $35.00 to $42.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. Wall Street Zen downgraded Tenable from a "strong-buy" rating to a "buy" rating in a research report on Sunday, August 10th. Finally, Stifel Nicolaus upped their price objective on Tenable from $30.00 to $35.00 and gave the stock a "hold" rating in a report on Thursday, July 31st. Nine investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $41.06.

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.