Twinbeech Capital LP Makes New Investment in Tenable Holdings, Inc. (NASDAQ:TENB)

Twinbeech Capital LP acquired a new position in Tenable Holdings, Inc. (NASDAQ:TENB - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 64,857 shares of the company's stock, valued at approximately $2,554,000. Twinbeech Capital LP owned about 0.05% of Tenable as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Arizona State Retirement System increased its holdings in shares of Tenable by 1.0% during the 4th quarter. Arizona State Retirement System now owns 34,560 shares of the company's stock valued at $1,361,000 after acquiring an additional 332 shares during the last quarter. Summit Investment Advisors Inc. raised its holdings in Tenable by 3.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 12,336 shares of the company's stock valued at $486,000 after acquiring an additional 390 shares in the last quarter. Oppenheimer & Co. Inc. grew its holdings in shares of Tenable by 3.0% during the 4th quarter. Oppenheimer & Co. Inc. now owns 15,650 shares of the company's stock worth $616,000 after purchasing an additional 450 shares in the last quarter. Tidal Investments LLC increased its position in shares of Tenable by 1.8% during the fourth quarter. Tidal Investments LLC now owns 32,082 shares of the company's stock valued at $1,263,000 after purchasing an additional 564 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in Tenable by 858.2% in the fourth 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. Institutional investors own 89.06% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. DA Davidson reduced their price objective on shares of Tenable from $45.00 to $28.00 and set a "neutral" rating for the company in a report on Wednesday, April 30th. Jefferies Financial Group cut their target price on Tenable from $45.00 to $37.00 and set a "hold" rating for the company in a research report on Monday, March 31st. Cantor Fitzgerald assumed coverage on Tenable in a research note on Monday, March 31st. They set an "overweight" rating and a $50.00 price objective for the company. Truist Financial dropped their target price on shares of Tenable from $48.00 to $45.00 and set a "buy" rating for the company in a research report on Monday, March 31st. Finally, Needham & Company LLC reduced their price target on shares of Tenable from $50.00 to $35.00 and set a "buy" rating on the stock in a research report on Wednesday, April 30th. Eight research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $40.44.

Tenable Stock Performance

TENB stock traded down $0.12 during midday trading on Monday, reaching $31.90. 849,043 shares of the company were exchanged, compared to its average volume of 1,053,912. The firm has a market capitalization of $3.90 billion, a price-to-earnings ratio of -106.33 and a beta of 0.83. The business has a 50-day moving average price of $33.05 and a two-hundred day moving average price of $37.88. Tenable Holdings, Inc. has a one year low of $28.75 and a one year high of $49.18. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.28 and a quick ratio of 1.28.

Tenable (NASDAQ:TENB - Get Free Report) last announced 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. The company had revenue of $239.14 million for the quarter, compared to analyst estimates of $234.12 million. Tenable had a negative return on equity of 2.07% and a negative net margin of 4.03%. The firm's quarterly revenue was up 10.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.25 earnings per share. Equities research analysts forecast that Tenable Holdings, Inc. will post 0.12 EPS for the current year.

Insider Buying and Selling at Tenable

In other Tenable news, Director Linda Kay Zecher sold 2,500 shares of the company's stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $37.00, for a total transaction of $92,500.00. Following the completion of the sale, the director now directly owns 353 shares in the company, valued at $13,061. This represents a 87.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Stephen A. Vintz sold 6,681 shares of Tenable stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $38.16, for a total value of $254,946.96. Following the completion of the transaction, the chief executive officer now owns 316,523 shares in the company, valued at approximately $12,078,517.68. This represents a 2.07% decrease in their position. The disclosure for this sale can be found here. Insiders sold 12,787 shares of company stock valued at $486,206 in the last quarter. Company insiders own 1.50% of the company's stock.

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.