Mark C. Thurmond Sells 5,577 Shares of Tenable Holdings, Inc. (NASDAQ:TENB) Stock

Tenable Holdings, Inc. (NASDAQ:TENB - Get Free Report) CEO Mark C. Thurmond sold 5,577 shares of the company's stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $31.98, for a total value of $178,352.46. Following the transaction, the chief executive officer now directly owns 75,210 shares of the company's stock, valued at $2,405,215.80. This represents a 6.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Tenable Stock Performance

Shares of NASDAQ:TENB traded up $0.04 on Friday, hitting $32.19. The company had a trading volume of 1,437,413 shares, compared to its average volume of 1,062,492. The stock has a 50 day moving average price of $32.70 and a 200 day moving average price of $37.67. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.88. The stock has a market cap of $3.93 billion, a price-to-earnings ratio of -107.30 and a beta of 0.83. Tenable Holdings, Inc. has a 1-year low of $28.75 and a 1-year high of $49.18.

Tenable (NASDAQ:TENB - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The company reported $0.36 earnings per share for the quarter, beating the consensus estimate 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 firm 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 firm earned $0.25 EPS. The business's revenue was up 10.7% on a year-over-year basis. Analysts expect that Tenable Holdings, Inc. will post 0.12 EPS for the current year.

Analysts Set New Price Targets

Several research firms have commented on TENB. Barclays cut their target price on Tenable from $40.00 to $33.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 30th. Truist Financial cut their price objective on shares of Tenable from $48.00 to $45.00 and set a "buy" rating on the stock in a research report on Monday, March 31st. Stephens downgraded shares of Tenable from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 1st. DA Davidson lowered their price target on shares of Tenable from $45.00 to $28.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 30th. Finally, Jefferies Financial Group reduced their price objective on shares of Tenable from $45.00 to $37.00 and set a "hold" rating for the company in a research note on Monday, March 31st. Eight investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $40.44.

Institutional Trading of Tenable

Several hedge funds have recently added to or reduced their stakes in the company. Arizona State Retirement System grew its holdings in Tenable by 1.0% in the 4th quarter. Arizona State Retirement System now owns 34,560 shares of the company's stock valued at $1,361,000 after buying an additional 332 shares in the last quarter. Summit Investment Advisors Inc. boosted its position in shares of Tenable by 3.3% in the fourth 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 during the period. Oppenheimer & Co. Inc. grew its stake in shares of Tenable by 3.0% in the fourth quarter. Oppenheimer & Co. Inc. now owns 15,650 shares of the company's stock valued at $616,000 after acquiring an additional 450 shares in the last quarter. Xponance Inc. increased its position in Tenable by 6.6% during the first quarter. Xponance Inc. now owns 9,021 shares of the company's stock worth $316,000 after acquiring an additional 562 shares during the period. Finally, Tidal Investments LLC raised its stake in Tenable by 1.8% in the 4th quarter. Tidal Investments LLC now owns 32,082 shares of the company's stock worth $1,263,000 after purchasing an additional 564 shares in the last quarter. 89.06% of the stock is owned by institutional investors and hedge funds.

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.