Northern Trust Corp Sells 29,484 Shares of Tenable Holdings, Inc. $TENB

Key Points

• Northern Trust Corp has reduced its stake in Tenable Holdings, Inc. by selling 29,484 shares, resulting in a total ownership of 1,158,373 shares valued at approximately $40.5 million.
• Several hedge funds have adjusted their positions in Tenable, with AQR Capital Management notably increasing its stake by 474.7% in the last quarter.
• Tenable has received 9 Buy ratings and 8 Hold ratings from analysts, with a current consensus price target of $41.06 following recent adjustments to price targets by various financial institutions.

Northern Trust Corp lessened its holdings in shares of Tenable Holdings, Inc. (NASDAQ:TENB - Free Report) by 2.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,158,373 shares of the company's stock after selling 29,484 shares during the quarter. Northern Trust Corp owned approximately 0.95% of Tenable worth $40,520,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in TENB. Mirae Asset Global Investments Co. Ltd. increased its holdings 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 purchasing an additional 1,682 shares in the last quarter. KBC Group NV lifted its holdings in Tenable by 19.4% in the first quarter. KBC Group NV now owns 5,652 shares of the company's stock worth $198,000 after acquiring an additional 919 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Tenable by 5.9% in the fourth quarter. The Manufacturers Life Insurance Company now owns 974,230 shares of the company's stock worth $38,365,000 after acquiring an additional 53,852 shares during the last quarter. Algert Global LLC lifted its holdings in Tenable by 290.5% in the fourth quarter. Algert Global LLC now owns 136,734 shares of the company's stock worth $5,385,000 after acquiring an additional 101,718 shares during the last quarter. Finally, Dimensional Fund Advisors LP bought a new stake in shares of Tenable during the fourth quarter valued at approximately $10,115,000. 89.06% of the stock is currently owned by institutional investors and hedge funds.

Tenable Stock Down 2.0%

Shares of NASDAQ:TENB traded down $0.62 during midday trading on Tuesday, reaching $30.31. 555,859 shares of the company were exchanged, compared to its average volume of 1,401,941. 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 fifty-two week low of $28.51 and a fifty-two week high of $45.44. The stock has a fifty day simple moving average of $31.95 and a two-hundred day simple moving average of $33.28. The firm has a market cap of $3.67 billion, a PE ratio of -81.89 and a beta of 0.73.

Tenable (NASDAQ:TENB - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.30 by $0.04. The business had revenue of $247.30 million during the quarter, compared to the consensus estimate of $242.15 million. Tenable had a negative net margin of 4.74% and a negative return on equity of 3.32%. Tenable's revenue was up 11.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $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. As a group, sell-side analysts forecast that Tenable Holdings, Inc. will post 0.12 earnings per share for the current year.

Insider Buying and Selling

In other Tenable news, CEO Stephen A. Vintz sold 29,196 shares of the firm's stock in a transaction on Monday, August 25th. The shares were sold at an average price of $30.25, for a total value of $883,179.00. Following the transaction, the chief executive officer directly owned 358,949 shares of the company's stock, valued at approximately $10,858,207.25. This trade represents a 7.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Barron Anschutz sold 1,261 shares of the firm's stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $30.25, for a total transaction of $38,145.25. Following the sale, the insider owned 59,645 shares of the company's stock, valued at $1,804,261.25. This trade represents a 2.07% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 59,927 shares of company stock valued at $1,815,537 over the last ninety days. 1.50% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on TENB shares. Barclays upped 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. Jefferies Financial Group restated a "hold" rating and set a $38.00 price target (up from $37.00) on shares of Tenable in a report on Thursday, July 31st. Wells Fargo & Company reiterated an "overweight" rating and issued a $45.00 price objective (up from $40.00) on shares of Tenable in a report on Thursday, July 31st. UBS Group boosted their target price on shares of Tenable from $40.00 to $43.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. Finally, Scotiabank boosted their target price on shares of Tenable from $30.00 to $37.00 and gave the stock a "sector perform" rating in a research 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 company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price 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.