Edgestream Partners L.P. Cuts Stock Position in Tenable Holdings, Inc. (NASDAQ:TENB)

Edgestream Partners L.P. trimmed its position in shares of Tenable Holdings, Inc. (NASDAQ:TENB - Free Report) by 56.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 81,269 shares of the company's stock after selling 105,469 shares during the quarter. Edgestream Partners L.P. owned approximately 0.07% of Tenable worth $2,843,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in TENB. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Tenable by 858.2% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 642 shares of the company's stock valued at $25,000 after purchasing an additional 575 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC purchased a new position in shares of Tenable during the 4th quarter valued at approximately $35,000. Byrne Asset Management LLC increased its holdings in shares of Tenable by 115.4% during the 1st 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. Johnson Financial Group Inc. purchased a new position in shares of Tenable during the 4th quarter valued at approximately $53,000. Finally, Quarry LP grew its stake in Tenable by 307.1% in the 4th quarter. Quarry LP now owns 2,650 shares of the company's stock valued at $104,000 after acquiring an additional 1,999 shares during the period. 89.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on TENB shares. Stifel Nicolaus dropped their price target on shares of Tenable from $45.00 to $30.00 and set a "hold" rating on the stock in a research note on Wednesday, April 30th. Jefferies Financial Group dropped their price target on shares of Tenable from $45.00 to $37.00 and set a "hold" rating on the stock in a research note on Monday, March 31st. DA Davidson dropped their price target on shares of Tenable from $45.00 to $28.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 30th. Truist Financial dropped their price target on shares of Tenable from $48.00 to $45.00 and set a "buy" rating on the stock in a research note on Monday, March 31st. Finally, Stephens cut shares of Tenable from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 1st. Eight investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, Tenable currently has a consensus rating of "Moderate Buy" and a consensus target price of $40.78.

Insider Activity 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 value of $39,815.10. Following the sale, the insider directly owned 57,905 shares in the company, valued at approximately $1,851,801.90. The trade was a 2.10% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Stephen A. Vintz sold 3,386 shares of the business's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $32.45, for a total transaction of $109,875.70. Following the completion of the sale, the chief executive officer owned 328,008 shares in the company, valued at approximately $10,643,859.60. This trade represents a 1.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 19,845 shares of company stock worth $637,709. Company insiders own 1.50% of the company's stock.

Tenable Trading Down 0.8%

Shares of TENB stock traded down $0.25 on Friday, hitting $33.04. 1,076,467 shares of the stock traded hands, compared to its average volume of 1,170,401. The firm's 50-day moving average price is $32.89 and its two-hundred day moving average price is $35.58. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.04 and a current ratio of 1.04. The stock has a market capitalization of $4.04 billion, a PE ratio of -89.29 and a beta of 0.80. Tenable Holdings, Inc. has a twelve month low of $28.75 and a twelve month high of $49.18.

Tenable (NASDAQ:TENB - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.08. The firm had revenue of $239.14 million for the quarter, compared to analysts' expectations of $234.12 million. Tenable had a negative net margin of 4.86% and a negative return on equity of 3.11%. The company's revenue was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.25 EPS. As a group, analysts anticipate that Tenable Holdings, Inc. will post 0.12 EPS for the current year.

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.