Bayforest Capital Ltd Boosts Stake in Tenable Holdings, Inc. $TENB

Key Points

• Bayforest Capital Ltd has increased its stake in Tenable Holdings, Inc. by 124.7%, acquiring an additional 8,120 shares to total 14,630 shares, valued at $512,000.
• Several institutional investors have also bolstered their positions in Tenable, with notable increases from Mirae Asset Global Investments (+18.5%) and GAMMA Investing (+5,032.7%).
• Tenable reported earnings of $0.34 per share for the last quarter, exceeding analysts' expectations, along with a revenue increase of 11.8% year-over-year.

Bayforest Capital Ltd grew its position in shares of Tenable Holdings, Inc. (NASDAQ:TENB - Free Report) by 124.7% during the first quarter, according to its most recent filing with the SEC. The firm owned 14,630 shares of the company's stock after acquiring an additional 8,120 shares during the period. Bayforest Capital Ltd's holdings in Tenable were worth $512,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Nuveen LLC bought a new position in Tenable in the 1st quarter valued at approximately $35,330,000. Shapiro Capital Management LLC lifted its holdings in shares of Tenable by 647.5% during the 4th quarter. Shapiro Capital Management LLC now owns 1,060,055 shares of the company's stock valued at $41,745,000 after buying an additional 918,235 shares during the period. Penserra Capital Management LLC lifted its holdings in shares of Tenable by 47.6% during the 1st quarter. Penserra Capital Management LLC now owns 1,687,589 shares of the company's stock valued at $59,031,000 after buying an additional 544,375 shares during the period. Cubist Systematic Strategies LLC lifted its holdings in shares of Tenable by 828.5% during the 1st quarter. Cubist Systematic Strategies LLC now owns 432,564 shares of the company's stock valued at $15,131,000 after buying an additional 385,975 shares during the period. Finally, Ameriprise Financial Inc. lifted its holdings in shares of Tenable by 5.6% during the 1st quarter. Ameriprise Financial Inc. now owns 5,918,686 shares of the company's stock valued at $207,038,000 after buying an additional 312,299 shares during the period. 89.06% of the stock is owned by institutional investors.

Tenable Price Performance

TENB stock traded down $0.27 during trading on Monday, reaching $29.63. The company's stock had a trading volume of 368,101 shares, compared to its average volume of 1,395,912. The company has a market capitalization of $3.59 billion, a P/E ratio of -80.13 and a beta of 0.73. The company's fifty day moving average is $31.40 and its 200-day moving average is $32.76. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.01. 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 issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.34 earnings per share for the quarter, beating analysts' consensus estimates of $0.30 by $0.04. The firm had revenue of $247.30 million during 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 quarter last 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. On average, research analysts expect that Tenable Holdings, Inc. will post 0.12 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Wall Street Zen raised Tenable from a "buy" rating to a "strong-buy" rating in a report on Saturday. Wells Fargo & Company restated an "overweight" rating and issued a $45.00 price objective (up from $40.00) on shares of Tenable in a research note on Thursday, July 31st. Stifel Nicolaus upped their price objective on Tenable from $30.00 to $35.00 and gave the stock a "hold" rating in a research note on Thursday, July 31st. Morgan Stanley upped their price objective on Tenable from $28.00 to $32.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 31st. Finally, Barclays upped their price objective on Tenable from $33.00 to $39.00 and gave the stock an "equal weight" rating in a research note on Monday, July 14th. Nine equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $41.06.

Insider Buying and Selling

In other Tenable news, insider Barron Anschutz sold 1,261 shares of the business's stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $30.25, for a total transaction of $38,145.25. Following the completion of the transaction, the insider owned 59,645 shares in the company, valued at $1,804,261.25. The trade was a 2.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Stephen A. Vintz sold 29,196 shares of the stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $30.25, for a total value of $883,179.00. Following the completion of the transaction, the chief executive officer directly owned 358,949 shares in the company, valued at approximately $10,858,207.25. This trade represents a 7.52% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 64,549 shares of company stock valued at $1,954,751. 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.