Bayforest Capital Ltd Acquires 8,120 Shares of Tenable Holdings, Inc. (NASDAQ:TENB)

Key Points

• Bayforest Capital Ltd has significantly increased its stake in Tenable Holdings, Inc. by 124.7%, now owning 14,630 shares valued at approximately $512,000.
• Other institutional investors have also raised their positions in Tenable, with 89.06% of the stock now owned by hedge funds and institutional investors.
• Tenable's stock recently saw a reduction in price targets from various analysts, with some setting targets between $28.00 and $40.00, while it currently has a consensus rating of "Moderate Buy."

Bayforest Capital Ltd grew its position in shares of Tenable Holdings, Inc. (NASDAQ:TENB - Free Report) by 124.7% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,630 shares of the company's stock after buying an additional 8,120 shares during the quarter. Bayforest Capital Ltd's holdings in Tenable were worth $512,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. grew its stake in Tenable by 18.5% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,764 shares of the company's stock valued at $376,000 after buying an additional 1,682 shares in the last quarter. KBC Group NV grew its stake in Tenable by 19.4% in the 1st quarter. KBC Group NV now owns 5,652 shares of the company's stock valued at $198,000 after buying an additional 919 shares in the last quarter. Wells Fargo & Company MN grew its stake in Tenable by 41.9% in the 4th quarter. Wells Fargo & Company MN now owns 67,831 shares of the company's stock valued at $2,671,000 after buying an additional 20,031 shares in the last quarter. Invesco Ltd. grew its stake in Tenable by 15.6% in the 4th quarter. Invesco Ltd. now owns 101,337 shares of the company's stock valued at $3,991,000 after buying an additional 13,655 shares in the last quarter. Finally, One68 Global Capital LLC purchased a new position in Tenable in the 4th quarter valued at approximately $591,000. Hedge funds and other institutional investors own 89.06% of the company's stock.

Insider Buying and Selling at Tenable

In related news, insider Barron Anschutz sold 1,245 shares of the business'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 $39,815.10. Following the transaction, the insider owned 57,905 shares in the company, valued at $1,851,801.90. The trade was a 2.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Stephen A. Vintz sold 6,499 shares of the business'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 $207,838.02. Following the transaction, the chief executive officer owned 331,394 shares in the company, valued at $10,597,980.12. This represents a 1.92% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 20,815 shares of company stock worth $669,797. 1.50% of the stock is currently owned by company insiders.

Tenable Trading Down 2.4%

Shares of TENB stock traded down $0.74 during mid-day trading on Friday, reaching $30.57. The stock had a trading volume of 1,722,086 shares, compared to its average volume of 1,469,725. The stock's 50-day moving average price is $32.91 and its two-hundred day moving average price is $35.10. Tenable Holdings, Inc. has a 52-week low of $28.75 and a 52-week high of $45.44. The firm has a market capitalization of $3.73 billion, a PE ratio of -82.62 and a beta of 0.76. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.93.

Tenable (NASDAQ:TENB - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $0.34 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 firm had revenue of $247.30 million for the quarter, compared to analysts' expectations of $242.15 million. During the same quarter in the previous year, the company earned $0.31 earnings per share. The company's revenue for the quarter was up 11.8% compared to the same quarter last year. Equities analysts expect that Tenable Holdings, Inc. will post 0.12 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on TENB. Wells Fargo & Company reiterated an "overweight" rating and issued a $45.00 price objective (up from $40.00) on shares of Tenable in a research note on Thursday. Needham & Company LLC raised their price target on shares of Tenable from $35.00 to $42.00 and gave the company a "buy" rating in a report on Thursday. Stifel Nicolaus raised their price target on shares of Tenable from $30.00 to $35.00 and gave the company a "hold" rating in a report on Thursday. Wedbush raised their price target on shares of Tenable from $40.00 to $42.00 and gave the company an "outperform" rating in a report on Thursday. Finally, Westpark Capital reissued a "hold" rating on shares of Tenable in a report on Wednesday, April 30th. Eight equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $42.11.

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.