Insider Selling: Tenable Holdings, Inc. (NASDAQ:TENB) Director Sells 2,350 Shares of Stock

Tenable Holdings, Inc. (NASDAQ:TENB) Director Linda Kay Zecher sold 2,350 shares of the company’s stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $43.47, for a total transaction of $102,154.50. Following the completion of the sale, the director now owns 2,853 shares of the company’s stock, valued at approximately $124,019.91. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Tenable Price Performance

Shares of TENB stock traded up $0.16 during trading hours on Friday, hitting $43.29. 52,909 shares of the company’s stock were exchanged, compared to its average volume of 905,797. The stock’s 50-day moving average is $46.42 and its 200-day moving average is $45.48. The stock has a market cap of $5.15 billion, a price-to-earnings ratio of -74.36 and a beta of 0.94. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.23 and a quick ratio of 1.23. Tenable Holdings, Inc. has a 52 week low of $33.85 and a 52 week high of $53.50.

Tenable (NASDAQ:TENB) last released its earnings results on Wednesday, May 1st. The company reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.03. Tenable had a negative return on equity of 10.40% and a negative net margin of 8.18%. The company had revenue of $215.96 million during the quarter, compared to the consensus estimate of $213.56 million. As a group, research analysts forecast that Tenable Holdings, Inc. will post -0.14 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on TENB. Wedbush reiterated an “outperform” rating and set a $65.00 price target on shares of Tenable in a report on Thursday, May 2nd. Needham & Company LLC reissued a “buy” rating and issued a $62.00 price target on shares of Tenable in a research report on Tuesday, May 14th. Scotiabank began coverage on shares of Tenable in a research note on Friday, April 26th. They set a “sector perform” rating and a $47.00 target price for the company. Stephens lifted their price objective on Tenable from $60.00 to $62.00 and gave the company an “overweight” rating in a research report on Wednesday, February 7th. Finally, Truist Financial lifted their price target on Tenable from $50.00 to $60.00 and gave the company a “buy” rating in a report on Wednesday, February 7th. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Tenable presently has a consensus rating of “Moderate Buy” and an average price target of $57.20.

Hedge Funds Weigh In On Tenable

Several institutional investors have recently modified their holdings of the stock. Raymond James & Associates lifted its stake in Tenable by 4.8% in the third quarter. Raymond James & Associates now owns 17,336 shares of the company’s stock valued at $777,000 after buying an additional 800 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in Tenable by 169.2% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 6,638 shares of the company’s stock valued at $297,000 after buying an additional 4,172 shares during the last quarter. Teacher Retirement System of Texas boosted its position in Tenable by 64.4% during the 3rd quarter. Teacher Retirement System of Texas now owns 24,309 shares of the company’s stock worth $1,089,000 after acquiring an additional 9,524 shares during the last quarter. NBC Securities Inc. bought a new position in shares of Tenable during the 3rd quarter worth approximately $27,000. Finally, Victory Capital Management Inc. lifted its position in shares of Tenable by 5.4% in the third quarter. Victory Capital Management Inc. now owns 12,454 shares of the company’s stock worth $558,000 after purchasing an additional 633 shares in the last quarter. 89.06% of the stock is currently 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.