Bank of America Corp DE Acquires 99,060 Shares of Tenable Holdings, Inc. (NASDAQ:TENB)

Bank of America Corp DE increased its stake in shares of Tenable Holdings, Inc. (NASDAQ:TENB - Free Report) by 17.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 672,380 shares of the company's stock after purchasing an additional 99,060 shares during the period. Bank of America Corp DE owned approximately 0.56% of Tenable worth $26,478,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in TENB. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position 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 worth $25,000 after purchasing an additional 575 shares during the period. Kayne Anderson Rudnick Investment Management LLC purchased a new stake in Tenable during the 4th quarter worth approximately $35,000. SBI Securities Co. Ltd. purchased a new stake in Tenable during the 4th quarter worth approximately $38,000. Johnson Financial Group Inc. purchased a new stake in Tenable during the 4th quarter worth approximately $53,000. Finally, Larson Financial Group LLC increased its stake in Tenable by 89.9% during the 4th quarter. Larson Financial Group LLC now owns 1,426 shares of the company's stock worth $56,000 after buying an additional 675 shares during the period. Hedge funds and other institutional investors own 89.06% of the company's stock.

Insider Activity at Tenable

In related news, Director Linda Kay Zecher sold 2,500 shares of the stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $37.00, for a total value of $92,500.00. Following the completion of the transaction, the director now owns 353 shares in the company, valued at $13,061. This represents a 87.63% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Stephen A. Vintz sold 6,681 shares of the firm's stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $38.16, for a total transaction of $254,946.96. Following the transaction, the chief executive officer now owns 316,523 shares of the company's stock, valued at approximately $12,078,517.68. This trade represents a 2.07% decrease in their position. The disclosure for this sale can be found here. Insiders sold 14,128 shares of company stock worth $539,256 in the last 90 days. Corporate insiders own 1.50% of the company's stock.

Wall Street Analyst Weigh In

TENB has been the topic of several recent research reports. Morgan Stanley cut their target price on shares of Tenable from $40.00 to $30.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 16th. UBS Group lowered their price objective on shares of Tenable from $47.00 to $40.00 and set a "buy" rating on the stock in a research report on Wednesday, April 30th. Cantor Fitzgerald initiated coverage on shares of Tenable in a research note on Monday, March 31st. They issued an "overweight" rating and a $50.00 target price for the company. Needham & Company LLC reduced their price objective on shares of Tenable from $50.00 to $35.00 and set a "buy" rating for the company in a research note on Wednesday, April 30th. Finally, Truist Financial lowered their price target on shares of Tenable from $48.00 to $45.00 and set a "buy" rating for the company in a report on Monday, March 31st. Eight analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $40.44.

Tenable Stock Up 0.1%

Shares of NASDAQ TENB traded up $0.04 during trading on Tuesday, reaching $32.69. 1,066,708 shares of the stock were exchanged, compared to its average volume of 1,051,162. The company has a market capitalization of $3.99 billion, a price-to-earnings ratio of -108.97 and a beta of 0.83. The business's 50-day moving average price is $33.32 and its 200 day moving average price is $38.08. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.88. 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 issued its earnings results on Tuesday, April 29th. The company reported $0.36 earnings per share for the quarter, topping analysts' consensus estimates of $0.28 by $0.08. Tenable had a negative net margin of 4.03% and a negative return on equity of 2.07%. The company had revenue of $239.14 million for the quarter, compared to analysts' expectations of $234.12 million. During the same period in the prior year, the company earned $0.25 earnings per share. The firm's revenue was up 10.7% compared to the same quarter last year. As a group, equities analysts forecast that Tenable Holdings, Inc. will post 0.12 EPS for the current fiscal 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.