Tenable Holdings, Inc. $TENB Stock Bought by Pinnacle Associates Ltd.

Key Points

• Pinnacle Associates increased its Tenable stake by 7.7% in the third quarter, bringing its holdings to 539,174 shares valued at approximately $19.6 million. Institutional investors collectively own 89.06% of Tenable’s outstanding stock.
• Analyst sentiment remains mixed but leans neutral: Tenable has a consensus “Hold” rating from 21 analysts and an average price target of $35.60, below the reported share price of $38.98.
• Tenable’s latest quarterly results exceeded expectations, with earnings of $0.51 per share versus the $0.47 consensus estimate and revenue of $268.51 million. Revenue increased 8.6% year over year.

Pinnacle Associates Ltd. grew its holdings in Tenable Holdings, Inc. (NASDAQ:TENB - Free Report) by 7.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 539,174 shares of the company's stock after purchasing an additional 38,664 shares during the period. Pinnacle Associates Ltd. owned about 0.49% of Tenable worth $19,621,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in TENB. Firetrail Investments PTY Ltd. purchased a new position in Tenable during the second quarter valued at approximately $8,389,000. Bank of America Corp DE acquired a new position in Tenable in the 2nd quarter valued at approximately $30,884,000. Dimensional Fund Advisors LP increased its stake in Tenable by 231.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 817,447 shares of the company's stock valued at $13,827,000 after buying an additional 570,760 shares during the period. Wellington Management Group LLP acquired a new position in Tenable in the 2nd quarter valued at approximately $6,357,000. Finally, BlackRock Inc. purchased a new stake in Tenable in the 2nd quarter worth approximately $498,387,000. 89.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Wells Fargo & Company increased their target price on shares of Tenable from $35.00 to $38.00 and gave the stock an "equal weight" rating in a research report on Thursday, October 15th. Scotiabank upgraded shares of Tenable from a "sector perform" rating to a "sector outperform" rating and set a $50.00 price target on the stock in a report on Monday, July 6th. Wall Street Zen raised shares of Tenable from a "buy" rating to a "strong-buy" rating in a research note on Saturday. JPMorgan Chase & Co. upped their price target on shares of Tenable from $35.00 to $40.00 and gave the stock an "overweight" rating in a research note on Tuesday, June 30th. Finally, Weiss Ratings upgraded Tenable from a "sell (d+)" rating to a "hold (c-)" rating in a report on Thursday, October 8th. Eight investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Tenable currently has a consensus rating of "Hold" and an average price target of $35.60.

Tenable Trading Up 0.1%

Shares of NASDAQ TENB opened at $38.98 on Wednesday. The stock has a market cap of $4.29 billion, a price-to-earnings ratio of 779.76 and a beta of 1.01. The business has a 50 day simple moving average of $36.33 and a 200 day simple moving average of $30.90. Tenable Holdings, Inc. has a 52 week low of $15.73 and a 52 week high of $43.67. The company has a debt-to-equity ratio of 1.78, a quick ratio of 0.79 and a current ratio of 0.79.

Tenable (NASDAQ:TENB - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The company reported $0.51 EPS for the quarter, topping analysts' consensus estimates of $0.47 by $0.04. The firm had revenue of $268.51 million for the quarter, compared to the consensus estimate of $264.87 million. Tenable had a return on equity of 14.90% and a net margin of 0.65%. The firm's revenue was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.34 earnings per share. Tenable has set its FY 2026 guidance at 1.950-2.000 EPS and its Q3 2026 guidance at 0.490-0.520 EPS. On average, research analysts predict that Tenable Holdings, Inc. will post 0.50 earnings per share for the current fiscal year.

Tenable Profile

Tenable is a cybersecurity company that helps organizations identify, assess and reduce cyber risk across their technology environments. Its exposure management platform is designed to provide visibility into vulnerabilities and other security exposures affecting cloud systems, applications, endpoints, networks, operational technology, Internet of Things devices and identities.

The company's product portfolio includes Nessus, a widely used vulnerability assessment solution, and Tenable One, an exposure management platform that brings together vulnerability management, cloud security, identity exposure and related capabilities.

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