Woodline Partners LP Grows Stock Holdings in Tenable Holdings, Inc. $TENB

Key Points

• Woodline Partners LP dramatically increased its stake in Tenable Holdings, Inc., acquiring an additional 180,020 shares to reach a total of 190,215 shares, representing a 1,765.8% increase.
• Analysts have shown increasing optimism for Tenable, with Wall Street Zen upgrading the stock to a "strong-buy" rating and UBS raising its target price from $40.00 to $43.00.
• The company reported a quarterly earnings of $0.34 per share, exceeding expectations and marking an 11.8% increase in revenue compared to the same quarter last year.

Woodline Partners LP increased its holdings in Tenable Holdings, Inc. (NASDAQ:TENB - Free Report) by 1,765.8% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 190,215 shares of the company's stock after acquiring an additional 180,020 shares during the period. Woodline Partners LP owned approximately 0.16% of Tenable worth $6,654,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. Ameriprise Financial Inc. grew its position in Tenable by 5.6% in the first quarter. Ameriprise Financial Inc. now owns 5,918,686 shares of the company's stock worth $207,038,000 after acquiring an additional 312,299 shares during the period. RGM Capital LLC boosted its position in shares of Tenable by 2.0% during the first quarter. RGM Capital LLC now owns 3,772,624 shares of the company's stock worth $131,966,000 after buying an additional 72,607 shares during the period. Penserra Capital Management LLC boosted its position in shares of Tenable by 47.6% during the first quarter. Penserra Capital Management LLC now owns 1,687,589 shares of the company's stock worth $59,031,000 after buying an additional 544,375 shares during the period. The Manufacturers Life Insurance Company boosted its position in shares of Tenable by 16.0% during the first quarter. The Manufacturers Life Insurance Company now owns 1,129,790 shares of the company's stock worth $39,520,000 after buying an additional 155,560 shares during the period. Finally, Shapiro Capital Management LLC boosted its position in shares of Tenable by 647.5% during the fourth quarter. Shapiro Capital Management LLC now owns 1,060,055 shares of the company's stock worth $41,745,000 after buying an additional 918,235 shares during the period. 89.06% of the stock is currently owned by hedge funds and other institutional investors.

Tenable Stock Up 2.1%

Tenable stock traded up $0.64 during midday trading on Thursday, reaching $30.45. The company's stock had a trading volume of 284,264 shares, compared to its average volume of 1,392,895. Tenable Holdings, Inc. has a fifty-two week low of $28.51 and a fifty-two week high of $45.44. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.01. The company has a market cap of $3.69 billion, a P/E ratio of -82.42 and a beta of 0.73. The business has a 50-day simple moving average of $31.09 and a 200-day simple moving average of $32.66.

Tenable (NASDAQ:TENB - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.34 earnings per share for the quarter, beating 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 company had revenue of $247.30 million for the quarter, compared to analysts' expectations of $242.15 million. During the same period last year, the firm earned $0.31 earnings per share. Tenable'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. On average, research analysts expect that Tenable Holdings, Inc. will post 0.12 earnings per share for the current fiscal year.

Insider Transactions at Tenable

In other news, CEO Stephen A. Vintz sold 29,196 shares of Tenable stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $30.25, for a total transaction of $883,179.00. Following the sale, the chief executive officer owned 358,949 shares in the company, valued at approximately $10,858,207.25. The trade was a 7.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Barron Anschutz sold 1,261 shares of Tenable stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $30.25, for a total value of $38,145.25. Following the sale, the insider owned 59,645 shares in the company, valued at $1,804,261.25. This trade represents a 2.07% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 64,549 shares of company stock worth $1,954,751 over the last three months. 1.50% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts have recently commented on the company. DA Davidson raised their price target on Tenable from $32.00 to $34.00 and gave the stock a "neutral" rating in a research report on Thursday, July 31st. Wedbush lifted their target price on Tenable from $40.00 to $42.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. Scotiabank lifted their target price on Tenable from $30.00 to $37.00 and gave the company a "sector perform" rating in a report on Thursday, July 31st. Jefferies Financial Group reiterated a "hold" rating and issued a $38.00 target price (up from $37.00) on shares of Tenable in a report on Thursday, July 31st. Finally, Wells Fargo & Company reiterated an "overweight" rating and issued a $45.00 target price (up from $40.00) on shares of Tenable in a report on Thursday, July 31st. Nine investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. According to MarketBeat, Tenable presently has a consensus rating of "Moderate Buy" and an average 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.