Panagora Asset Management Inc. Lowers Position in Tenable Holdings, Inc. $TENB

Key Points

• Panagora Asset Management Inc. reduced its stake in Tenable Holdings, Inc. by 22.1%, leaving them with 92,130 shares valued at approximately $3.2 million.
• Several analysts have updated their price targets for Tenable, with estimates now ranging from $35.00 to $45.00, reflecting a generally positive outlook on the stock.
• Tenable reported a quarterly EPS of $0.34, exceeding expectations, and set its FY 2025 guidance between 1.450-1.530 EPS.

Panagora Asset Management Inc. reduced its holdings in shares of Tenable Holdings, Inc. (NASDAQ:TENB - Free Report) by 22.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 92,130 shares of the company's stock after selling 26,099 shares during the quarter. Panagora Asset Management Inc. owned 0.08% of Tenable worth $3,223,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of TENB. Byrne Asset Management LLC raised its position in Tenable by 115.4% in the 1st quarter. Byrne Asset Management LLC now owns 1,357 shares of the company's stock worth $47,000 after buying an additional 727 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Tenable during the first quarter valued at approximately $69,000. Caitong International Asset Management Co. Ltd lifted its position in Tenable by 743.3% during the first quarter. Caitong International Asset Management Co. Ltd now owns 2,471 shares of the company's stock valued at $86,000 after purchasing an additional 2,178 shares during the period. Headlands Technologies LLC purchased a new stake in Tenable in the first quarter worth approximately $109,000. Finally, KBC Group NV boosted 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 purchasing an additional 919 shares during the last quarter. 89.06% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Needham & Company LLC increased their price target on Tenable from $35.00 to $42.00 and gave the company a "buy" rating in a report on Thursday, July 31st. Wells Fargo & Company reiterated an "overweight" rating and set a $45.00 price objective (up previously from $40.00) on shares of Tenable in a research report on Thursday, July 31st. Stifel Nicolaus increased their target price on Tenable from $30.00 to $35.00 and gave the company a "hold" rating in a report on Thursday, July 31st. Wall Street Zen cut Tenable from a "strong-buy" rating to a "buy" rating in a research report on Sunday, August 10th. Finally, Morgan Stanley upped their price target on shares of Tenable from $28.00 to $32.00 and gave the company an "equal weight" 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 stock. Based on data from MarketBeat, Tenable currently has an average rating of "Moderate Buy" and a consensus price target of $41.06.

Tenable Stock Performance

NASDAQ TENB traded up $0.67 on Friday, hitting $31.05. 1,953,415 shares of the company traded hands, compared to its average volume of 1,413,302. The business's 50 day moving average price is $31.74 and its 200-day moving average price is $33.04. Tenable Holdings, Inc. has a 52-week low of $28.51 and a 52-week high of $45.44. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.01. The company has a market capitalization of $3.76 billion, a price-to-earnings ratio of -83.92 and a beta of 0.73.

Tenable (NASDAQ:TENB - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $0.34 EPS for the quarter, topping analysts' consensus estimates of $0.30 by $0.04. Tenable had a negative return on equity of 3.32% and a negative net margin of 4.74%.The business had revenue of $247.30 million during the quarter, compared to analysts' expectations of $242.15 million. During the same quarter in the prior year, the business posted $0.31 earnings per share. The business's quarterly revenue was up 11.8% on a year-over-year basis. Tenable has set its FY 2025 guidance at 1.450-1.530 EPS. Q3 2025 guidance at 0.360-0.370 EPS. Equities analysts expect that Tenable Holdings, Inc. will post 0.12 earnings per share for the current year.

Insider Buying and Selling at Tenable

In other Tenable news, CEO Mark C. Thurmond sold 28,500 shares of the company's stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $30.25, for a total value of $862,125.00. Following the completion of the transaction, the chief executive officer directly owned 102,322 shares in the company, valued at $3,095,240.50. This represents a 21.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Stephen A. Vintz sold 29,196 shares of the stock in a transaction on Monday, August 25th. The stock was sold at an average price of $30.25, for a total transaction of $883,179.00. Following the completion of the sale, 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 disclosure for this sale can be found here. Insiders have sold 59,927 shares of company stock valued at $1,815,537 over the last 90 days. 1.50% of the stock is currently owned by corporate insiders.

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.