Insider Selling: Tenable (NASDAQ:TENB) Director Sells 4,622 Shares of Stock

Key Points

• Tenable Director A Brooke Seawell sold 4,622 shares of the company at an average price of $30.12, totaling approximately $139,215, and reducing his ownership by 23.56% to 15,000 shares.
• Tenable's stock was trading at around $31.16, showing a slight increase of 0.4%, with a market cap of $3.77 billion and a price-to-earnings ratio of -84.21.
• The company reported Q2 earnings of $0.34 per share, exceeding estimates by $0.04, with revenue reaching $247.30 million, up 11.8% year-over-year.

Tenable Holdings, Inc. (NASDAQ:TENB - Get Free Report) Director A Brooke Seawell sold 4,622 shares of the firm's stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $30.12, for a total value of $139,214.64. Following the completion of the transaction, the director directly owned 15,000 shares in the company, valued at approximately $451,800. This represents a 23.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

Tenable Stock Performance

Tenable stock traded down $0.64 during trading on Friday, reaching $29.90. The company had a trading volume of 853,670 shares, compared to its average volume of 1,336,422. Tenable Holdings, Inc. has a 52 week low of $28.51 and a 52 week high of $45.44. The firm's 50-day simple moving average is $31.40 and its 200 day simple moving average is $32.80. The firm has a market capitalization of $3.62 billion, a price-to-earnings ratio of -80.81 and a beta of 0.73. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.01.

Tenable (NASDAQ:TENB - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported $0.34 EPS for the quarter, topping 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 EPS. Tenable's revenue for the quarter was up 11.8% compared to the same quarter last year. Tenable has set its FY 2025 guidance at 1.450-1.530 EPS. Q3 2025 guidance at 0.360-0.370 EPS. Sell-side analysts forecast that Tenable Holdings, Inc. will post 0.12 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on TENB shares. UBS Group increased their price target on Tenable from $40.00 to $43.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. Wells Fargo & Company reiterated an "overweight" rating and issued a $45.00 price target (up previously from $40.00) on shares of Tenable in a research note on Thursday, July 31st. Morgan Stanley increased their price target on Tenable from $28.00 to $32.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 31st. Scotiabank increased their price target on Tenable from $30.00 to $37.00 and gave the stock a "sector perform" rating in a research note on Thursday, July 31st. Finally, Wedbush increased their price target on Tenable from $40.00 to $42.00 and gave the stock an "outperform" rating in a research note on Thursday, July 31st. Nine analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $41.06.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP purchased a new position in Tenable in the fourth quarter worth about $10,115,000. BNP Paribas Financial Markets grew its position in Tenable by 30.4% in the fourth quarter. BNP Paribas Financial Markets now owns 99,798 shares of the company's stock worth $3,930,000 after acquiring an additional 23,275 shares in the last quarter. Bank of America Corp DE grew its position in Tenable by 17.3% in the fourth quarter. Bank of America Corp DE now owns 672,380 shares of the company's stock worth $26,478,000 after acquiring an additional 99,060 shares in the last quarter. Balyasny Asset Management L.P. purchased a new position in Tenable in the fourth quarter worth about $3,686,000. Finally, Captrust Financial Advisors purchased a new position in Tenable in the fourth quarter worth about $279,000. Hedge funds and other institutional investors own 89.06% 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.