Select Equity Group L.P. Purchases 40,945 Shares of Tenable Holdings, Inc. $TENB

Select Equity Group L.P. increased its position in Tenable Holdings, Inc. (NASDAQ:TENB - Free Report) by 410.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 50,909 shares of the company's stock after buying an additional 40,945 shares during the period. Select Equity Group L.P.'s holdings in Tenable were worth $1,781,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Xponance Inc. increased its holdings in Tenable by 6.6% in the first quarter. Xponance Inc. now owns 9,021 shares of the company's stock worth $316,000 after buying an additional 562 shares during the last quarter. Tidal Investments LLC increased 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 buying an additional 564 shares during the last quarter. Fiera Capital Corp increased its holdings in Tenable by 1.1% in the first quarter. Fiera Capital Corp now owns 59,626 shares of the company's stock worth $2,086,000 after buying an additional 651 shares during the last quarter. Amundi increased its holdings in Tenable by 1.2% in the first quarter. Amundi now owns 58,149 shares of the company's stock worth $1,939,000 after buying an additional 676 shares during the last quarter. Finally, Byrne Asset Management LLC increased its holdings in Tenable by 115.4% in the first 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. Institutional investors and hedge funds own 89.06% of the company's stock.

Insiders Place Their Bets

In other news, Director A Brooke Seawell sold 4,622 shares of the stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $30.12, for a total value of $139,214.64. Following the completion of the sale, the director directly owned 15,000 shares of the company's stock, valued at approximately $451,800. This represents a 23.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Barron Anschutz sold 1,261 shares of the 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 $38,145.25. Following the completion of the sale, the insider directly owned 59,645 shares of the company's stock, valued at $1,804,261.25. This represents a 2.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 64,549 shares of company stock valued at $1,954,751 over the last ninety days. 1.50% of the stock is owned by insiders.

Tenable Stock Performance

Shares of TENB traded down $0.64 during mid-day trading on Friday, hitting $29.90. The company's stock had a trading volume of 853,670 shares, compared to its average volume of 1,336,422. Tenable Holdings, Inc. has a one year low of $28.51 and a one year high of $45.44. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.94 and a current ratio of 0.94. The firm has a market capitalization of $3.62 billion, a PE ratio of -80.81 and a beta of 0.73. The stock's 50-day moving average is $31.40 and its two-hundred day moving average is $32.80.

Tenable (NASDAQ:TENB - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $0.34 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $247.30 million during the quarter, compared to analysts' expectations of $242.15 million. During the same period in the prior year, the business earned $0.31 earnings per share. Tenable's revenue for the quarter was up 11.8% compared to the same quarter last year. 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 anticipate that Tenable Holdings, Inc. will post 0.12 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Wedbush increased their price objective on Tenable from $40.00 to $42.00 and gave the stock an "outperform" rating in a report on Thursday, July 31st. Morgan Stanley increased their price objective on Tenable from $28.00 to $32.00 and gave the stock an "equal weight" rating in a report on Thursday, July 31st. Jefferies Financial Group reaffirmed a "hold" rating and set a $38.00 target price (up previously from $37.00) on shares of Tenable in a research report on Thursday, July 31st. Wells Fargo & Company reaffirmed an "overweight" rating and set a $45.00 target price (up previously from $40.00) on shares of Tenable in a research report on Thursday, July 31st. Finally, Wall Street Zen raised Tenable from a "buy" rating to a "strong-buy" rating in a research report on Saturday. Nine analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average 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.