Portolan Capital Management LLC purchased a new stake in shares of Tenable Holdings, Inc. (NASDAQ:TENB – Get Rating) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 195,897 shares of the company's stock, valued at approximately $11,321,000. Portolan Capital Management LLC owned approximately 0.18% of Tenable at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. increased its stake in Tenable by 6.4% during the 1st quarter. Vanguard Group Inc. now owns 9,900,298 shares of the company's stock valued at $572,138,000 after purchasing an additional 595,338 shares in the last quarter. BlackRock Inc. increased its stake in shares of Tenable by 2.1% in the first quarter. BlackRock Inc. now owns 7,809,324 shares of the company's stock worth $451,302,000 after acquiring an additional 163,682 shares during the period. Mackenzie Financial Corp increased its stake in shares of Tenable by 1.3% in the first quarter. Mackenzie Financial Corp now owns 3,028,326 shares of the company's stock worth $175,007,000 after acquiring an additional 38,358 shares during the period. State Street Corp increased its stake in shares of Tenable by 2.0% in the first quarter. State Street Corp now owns 1,972,721 shares of the company's stock worth $114,004,000 after acquiring an additional 39,030 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of Tenable by 13.1% in the fourth quarter. Geode Capital Management LLC now owns 1,760,258 shares of the company's stock worth $96,937,000 after acquiring an additional 203,388 shares during the period. Institutional investors and hedge funds own 87.67% of the company's stock.
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Insider Buying and Selling at Tenable
In other news, General Counsel Stephen A. Riddick sold 1,509 shares of the stock in a transaction dated Thursday, August 18th. The shares were sold at an average price of $42.23, for a total value of $63,725.07. Following the completion of the sale, the general counsel now directly owns 43,825 shares in the company, valued at $1,850,729.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CEO Amit Yoran sold 9,427 shares of the firm's stock in a transaction dated Wednesday, June 22nd. The shares were sold at an average price of $47.70, for a total transaction of $449,667.90. Following the completion of the sale, the chief executive officer now directly owns 109,847 shares in the company, valued at $5,239,701.90. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, General Counsel Stephen A. Riddick sold 1,509 shares of the firm's stock in a transaction dated Thursday, August 18th. The stock was sold at an average price of $42.23, for a total transaction of $63,725.07. Following the sale, the general counsel now owns 43,825 shares of the company's stock, valued at $1,850,729.75. The disclosure for this sale can be found here. Insiders have sold a total of 74,495 shares of company stock valued at $3,322,911 over the last ninety days. Corporate insiders own 4.80% of the company's stock.
Wall Street Analysts Forecast Growth
A number of analysts have recently weighed in on TENB shares. Barclays cut their price objective on shares of Tenable from $58.00 to $45.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 27th. Wolfe Research cut their price objective on shares of Tenable from $59.00 to $47.00 and set an "outperform" rating on the stock in a research note on Friday, July 29th. Wedbush cut their price objective on shares of Tenable from $70.00 to $57.00 and set an "outperform" rating on the stock in a research note on Wednesday, July 27th. BTIG Research lowered their price target on shares of Tenable from $73.00 to $58.00 and set an "outperform" rating on the stock in a report on Wednesday, July 27th. Finally, Morgan Stanley lowered their price target on shares of Tenable from $63.00 to $53.00 and set an "overweight" rating on the stock in a report on Wednesday, July 27th. Fifteen investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of "Buy" and an average price target of $56.64.
Tenable Price Performance
TENB traded down $1.42 during midday trading on Tuesday, hitting $40.75. 20,978 shares of the company traded hands, compared to its average volume of 704,817. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 1.53. The company has a market capitalization of $4.55 billion, a price-to-earnings ratio of -58.57 and a beta of 1.32. Tenable Holdings, Inc. has a 52-week low of $36.24 and a 52-week high of $63.61. The business has a 50 day simple moving average of $43.20 and a two-hundred day simple moving average of $49.15.
Tenable (NASDAQ:TENB – Get Rating) last posted its quarterly earnings data on Tuesday, July 26th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.12). The company had revenue of $164.34 million for the quarter, compared to analysts' expectations of $163.47 million. Tenable had a negative net margin of 12.97% and a negative return on equity of 33.54%. On average, equities analysts forecast that Tenable Holdings, Inc. will post -0.51 earnings per share for the current fiscal year.
Tenable Company Profile
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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.io, a cloud-delivered software as a service that provides organizations with a risk-based view of traditional and modern attack surfaces; Tenable.cs, a cloud-native application platform that enables organizations to programmatically detect and fix cloud infrastructure misconfigurations; Tenable.io WAS, which provides scanning for modern web applications; and Tenable.ep, an unified platform that helps organizations identify, assess, and accurately prioritize cyber risks across the entire attack surface.
Further Reading
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