Tenable Holdings, Inc. (NASDAQ:TENB) Position Trimmed by Daventry Group LP

Daventry Group LP lowered its stake in Tenable Holdings, Inc. (NASDAQ:TENB - Free Report) by 37.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 697,156 shares of the company's stock after selling 419,036 shares during the period. Tenable accounts for 10.5% of Daventry Group LP's holdings, making the stock its 5th biggest position. Daventry Group LP owned 0.58% of Tenable worth $27,454,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Arizona State Retirement System increased its holdings in shares of Tenable by 1.0% in the fourth quarter. Arizona State Retirement System now owns 34,560 shares of the company's stock valued at $1,361,000 after purchasing an additional 332 shares during the period. Summit Investment Advisors Inc. increased 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 worth $486,000 after buying an additional 390 shares during the period. Oppenheimer & Co. Inc. raised its position in 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 buying an additional 450 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Tenable by 858.2% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 642 shares of the company's stock valued at $25,000 after acquiring an additional 575 shares during the period. Finally, Pacer Advisors Inc. boosted its holdings in shares of Tenable by 30.3% in the 4th quarter. Pacer Advisors Inc. now owns 2,823 shares of the company's stock valued at $111,000 after acquiring an additional 657 shares during the last quarter. 89.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Stephens assumed coverage on shares of Tenable in a research note on Tuesday, April 1st. They set an "equal weight" rating and a $42.00 price objective on the stock. Cantor Fitzgerald assumed coverage on Tenable in a report on Monday, March 31st. They issued an "overweight" rating and a $50.00 price objective on the stock. Truist Financial lowered their price objective on Tenable from $48.00 to $45.00 and set a "buy" rating on the stock in a research note on Monday, March 31st. Needham & Company LLC cut their target price on Tenable from $50.00 to $35.00 and set a "buy" rating for the company in a research note on Wednesday, April 30th. Finally, Jefferies Financial Group dropped their target price on shares of Tenable from $45.00 to $37.00 and set a "hold" rating for the company in a report on Monday, March 31st. Seven research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $40.44.

Tenable Trading Down 0.4 %

Shares of NASDAQ:TENB opened at $31.13 on Wednesday. Tenable Holdings, Inc. has a fifty-two week low of $28.75 and a fifty-two week high of $49.18. The company has a market cap of $3.74 billion, a PE ratio of -103.77 and a beta of 0.83. The company's 50-day moving average price is $34.21 and its 200 day moving average price is $38.65. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.88.

Tenable (NASDAQ:TENB - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.28 by $0.08. The firm had revenue of $239.14 million for the quarter, compared to analysts' expectations of $234.12 million. Tenable had a negative net margin of 4.03% and a negative return on equity of 2.07%. Tenable's revenue for the quarter was up 10.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.25 earnings per share. Sell-side analysts anticipate that Tenable Holdings, Inc. will post 0.12 earnings per share for the current year.

Insider Transactions at Tenable

In other Tenable news, CEO Stephen A. Vintz sold 6,681 shares of the company's stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $38.16, for a total transaction of $254,946.96. Following the completion of the sale, the chief executive officer now directly owns 316,523 shares in the company, valued at $12,078,517.68. This represents a 2.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Mark C. Thurmond sold 3,606 shares of the business's stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $38.48, for a total value of $138,758.88. Following the sale, the chief executive officer now owns 74,295 shares in the company, valued at approximately $2,858,871.60. This represents a 4.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 14,128 shares of company stock valued at $539,256 in the last three months. Corporate insiders own 1.50% of the company's stock.

Tenable 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.

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