Blair William & Co. IL Decreases Stock Holdings in Tenable Holdings, Inc. (NASDAQ:TENB)

Key Points

• Blair William & Co. IL reduced its holdings in Tenable Holdings by 19.9% during the first quarter, now owning approximately $5.95 million worth of shares.
• Multiple institutional investors have increased their positions in Tenable, with notable increases including Bayforest Capital Ltd raising its stake by 124.7% and Skandinaviska Enskilda Banken AB boosting its holdings by 2,898.6%.
• Analysts show mixed sentiment with a consensus rating of "Moderate Buy" for Tenable, while price targets from brokerages range from $32.00 to $45.00.

Blair William & Co. IL trimmed its stake in Tenable Holdings, Inc. (NASDAQ:TENB - Free Report) by 19.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 169,986 shares of the company's stock after selling 42,131 shares during the period. Blair William & Co. IL owned 0.14% of Tenable worth $5,946,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. Summit Investment Advisors Inc. grew its position in shares of Tenable by 3.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 12,336 shares of the company's stock worth $486,000 after buying an additional 390 shares during the period. Xponance Inc. boosted its stake in Tenable by 6.6% during the first quarter. Xponance Inc. now owns 9,021 shares of the company's stock worth $316,000 after acquiring an additional 562 shares in the last quarter. Tidal Investments LLC grew its holdings in Tenable by 1.8% in the fourth quarter. Tidal Investments LLC now owns 32,082 shares of the company's stock worth $1,263,000 after purchasing an additional 564 shares during the period. Fiera Capital Corp increased its stake in shares of Tenable by 1.1% during the first quarter. Fiera Capital Corp now owns 59,626 shares of the company's stock valued at $2,086,000 after purchasing an additional 651 shares in the last quarter. Finally, Byrne Asset Management LLC increased its stake in shares of Tenable by 115.4% during the first quarter. Byrne Asset Management LLC now owns 1,357 shares of the company's stock valued at $47,000 after purchasing an additional 727 shares in the last quarter. Institutional investors own 89.06% of the company's stock.

Tenable Stock Performance

Shares of TENB stock traded down $0.64 during trading hours on Thursday, reaching $29.42. The company had a trading volume of 1,384,277 shares, compared to its average volume of 1,474,385. The firm has a market cap of $3.59 billion, a PE ratio of -79.51 and a beta of 0.76. The business has a fifty day moving average price of $32.74 and a 200-day moving average price of $34.79. Tenable Holdings, Inc. has a one year low of $28.75 and a one year high of $45.44. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.04 and a current ratio of 1.04.

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

Insider Buying and Selling

In related news, CEO Mark C. Thurmond sold 5,577 shares of the company's stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $31.98, for a total transaction of $178,352.46. Following the completion of the transaction, the chief executive officer owned 75,210 shares in the company, valued at approximately $2,405,215.80. This represents a 6.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Barron Anschutz sold 1,245 shares of Tenable stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $31.98, for a total transaction of $39,815.10. Following the completion of the sale, the insider owned 57,905 shares in the company, valued at approximately $1,851,801.90. This represents a 2.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 20,815 shares of company stock valued at $669,797. Corporate insiders own 1.50% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on TENB shares. Scotiabank boosted their price target on Tenable from $30.00 to $37.00 and gave the stock a "sector perform" rating in a research report on Thursday, July 31st. Needham & Company LLC boosted their target price on Tenable from $35.00 to $42.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. Barclays raised their price target on Tenable from $33.00 to $39.00 and gave the company an "equal weight" rating in a report on Monday, July 14th. Westpark Capital reiterated a "hold" rating on shares of Tenable in a research note on Wednesday, April 30th. Finally, Wells Fargo & Company reissued an "overweight" rating and set a $45.00 price objective (up from $40.00) on shares of Tenable in a research report on Thursday, July 31st. Eight analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target 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.