Tenable Holdings, Inc. (NASDAQ:TENB) Position Cut by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD cut its stake in Tenable Holdings, Inc. (NASDAQ:TENB - Free Report) by 20.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 535,074 shares of the company's stock after selling 139,275 shares during the period. Price T Rowe Associates Inc. MD owned approximately 0.45% of Tenable worth $21,073,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. FMR LLC raised its holdings in Tenable by 2.0% during the fourth quarter. FMR LLC now owns 15,515,164 shares of the company's stock worth $610,987,000 after purchasing an additional 304,237 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Tenable by 5.3% in the 4th quarter. Vanguard Group Inc. now owns 13,947,023 shares of the company's stock worth $549,234,000 after buying an additional 708,249 shares in the last quarter. Geode Capital Management LLC grew its stake in Tenable by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 2,803,231 shares of the company's stock valued at $110,416,000 after acquiring an additional 8,746 shares during the last quarter. First Trust Advisors LP raised its position in Tenable by 6.2% during the fourth quarter. First Trust Advisors LP now owns 2,332,650 shares of the company's stock worth $91,860,000 after acquiring an additional 137,150 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Tenable in the fourth quarter valued at approximately $54,950,000. 89.06% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TENB has been the topic of a number of analyst reports. Stephens cut Tenable from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 1st. Wells Fargo & Company reduced their target price on shares of Tenable from $50.00 to $40.00 and set an "overweight" rating on the stock in a report on Wednesday, April 30th. DA Davidson lowered their price target 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. Cantor Fitzgerald started coverage on shares of Tenable in a research report on Monday, March 31st. They set an "overweight" rating and a $50.00 target price on the stock. Finally, Stifel Nicolaus cut their price target on Tenable from $45.00 to $30.00 and set a "hold" rating for the company in a 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's stock. According to MarketBeat, Tenable currently has a consensus rating of "Moderate Buy" and an average target price of $40.44.

Tenable Stock Down 0.2 %

Shares of TENB stock traded down $0.07 during trading hours on Wednesday, reaching $31.06. The company had a trading volume of 313,205 shares, compared to its average volume of 1,009,266. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.28 and a current ratio of 1.28. Tenable Holdings, Inc. has a twelve month low of $28.75 and a twelve month high of $49.18. The stock's fifty day simple moving average is $34.21 and its 200 day simple moving average is $38.65. The company has a market capitalization of $3.73 billion, a P/E ratio of -103.62 and a beta of 0.83.

Tenable (NASDAQ:TENB - Get Free Report) last announced its earnings results on Tuesday, April 29th. The company reported $0.36 earnings per share (EPS) for the quarter, beating 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%. Tenable's quarterly revenue was up 10.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.25 EPS. As a group, sell-side analysts expect that Tenable Holdings, Inc. will post 0.12 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Mark C. Thurmond sold 1,341 shares of the business's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $39.56, for a total transaction of $53,049.96. Following the completion of the sale, the chief executive officer now owns 41,266 shares of the company's stock, valued at $1,632,482.96. This represents a 3.15 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Stephen A. Vintz sold 6,681 shares of the company's stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $38.16, for a total value of $254,946.96. Following the transaction, the chief executive officer now directly owns 316,523 shares of the company's stock, valued at $12,078,517.68. This trade represents a 2.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 14,128 shares of company stock valued at $539,256 in the last quarter. Insiders own 1.50% of the company's stock.

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.