Baird Financial Group Inc. Sells 30,494 Shares of Tenable Holdings, Inc. $TENB

Key Points

• Baird Financial Group Inc. has reduced its stock position in Tenable Holdings, Inc. by 74.2%, now holding only 10,577 shares valued at $370,000 after selling 30,494 shares.
• Insider selling includes significant transactions, with Director A Brooke Seawell and CEO Stephen A. Vintz selling 4,622 and 29,196 shares respectively, resulting in a 23.56% and 7.52% decrease in their positions.
• Analysts have recently upgraded their price targets for Tenable, with a consensus average target of $41.06 and ratings reflecting a mix of "Buy" and "Hold" recommendations.

Baird Financial Group Inc. reduced its position in Tenable Holdings, Inc. (NASDAQ:TENB - Free Report) by 74.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,577 shares of the company's stock after selling 30,494 shares during the period. Baird Financial Group Inc.'s holdings in Tenable were worth $370,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. BNP Paribas Financial Markets boosted its stake in Tenable by 30.4% during the 4th quarter. BNP Paribas Financial Markets now owns 99,798 shares of the company's stock valued at $3,930,000 after purchasing an additional 23,275 shares during the period. Bank of America Corp DE boosted its stake in Tenable by 17.3% during the 4th quarter. Bank of America Corp DE now owns 672,380 shares of the company's stock valued at $26,478,000 after purchasing an additional 99,060 shares during the period. Captrust Financial Advisors bought a new stake in Tenable during the 4th quarter valued at approximately $279,000. Deutsche Bank AG boosted its stake in Tenable by 17.7% during the 4th quarter. Deutsche Bank AG now owns 297,576 shares of the company's stock valued at $11,719,000 after purchasing an additional 44,835 shares during the period. Finally, D. E. Shaw & Co. Inc. acquired a new position in Tenable in the 4th quarter valued at approximately $10,641,000. Institutional investors own 89.06% of the company's stock.

Tenable Price Performance

TENB stock traded down $0.31 during midday trading on Monday, reaching $29.59. 1,176,724 shares of the company's stock traded hands, compared to its average volume of 1,401,056. The company has a market cap of $3.58 billion, a price-to-earnings ratio of -79.97 and a beta of 0.73. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.01. The company has a 50-day simple moving average of $31.40 and a two-hundred day simple moving average of $32.76. Tenable Holdings, Inc. has a 1-year low of $28.51 and a 1-year high of $45.44.

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

Analyst Upgrades and Downgrades

TENB has been the subject of several recent research reports. Scotiabank upped their price target on Tenable from $30.00 to $37.00 and gave the company a "sector perform" rating in a report on Thursday, July 31st. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $45.00 price target (up previously from $40.00) on shares of Tenable in a report on Thursday, July 31st. UBS Group upped their price target on Tenable from $40.00 to $43.00 and gave the company a "buy" rating in a report on Thursday, July 31st. Stifel Nicolaus upped their price target on Tenable from $30.00 to $35.00 and gave the company a "hold" rating in a report on Thursday, July 31st. Finally, DA Davidson upped their price target on Tenable from $32.00 to $34.00 and gave the company a "neutral" rating in a report on Thursday, July 31st. Nine investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $41.06.

Insider Transactions at Tenable

In other news, Director A Brooke Seawell sold 4,622 shares of the firm's stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $30.12, for a total value of $139,214.64. Following the transaction, the director directly owned 15,000 shares in the company, valued at $451,800. This trade represents a 23.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Mark C. Thurmond sold 28,500 shares of Tenable stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $30.25, for a total value of $862,125.00. Following the transaction, the chief executive officer owned 102,322 shares in the company, valued at approximately $3,095,240.50. This represents a 21.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 64,549 shares of company stock valued at $1,954,751 over the last 90 days. 1.50% of the stock is currently owned by corporate insiders.

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.