Tenable Holdings, Inc. (NASDAQ:TENB) Stake Lowered by Summit Trail Advisors LLC

Summit Trail Advisors LLC decreased its stake in Tenable Holdings, Inc. (NASDAQ:TENBFree Report) by 34.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 48,799 shares of the company’s stock after selling 25,143 shares during the period. Summit Trail Advisors LLC’s holdings in Tenable were worth $2,127,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Corient Private Wealth LLC grew its position in Tenable by 16.7% in the 4th quarter. Corient Private Wealth LLC now owns 77,383 shares of the company’s stock worth $3,564,000 after purchasing an additional 11,088 shares during the last quarter. Tidal Investments LLC boosted its position in shares of Tenable by 157.8% during the first quarter. Tidal Investments LLC now owns 23,268 shares of the company’s stock worth $1,150,000 after buying an additional 14,244 shares during the period. CHURCHILL MANAGEMENT Corp bought a new position in Tenable in the 1st quarter worth approximately $1,239,000. CANADA LIFE ASSURANCE Co increased its position in Tenable by 21.0% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 352,468 shares of the company’s stock valued at $17,408,000 after acquiring an additional 61,080 shares during the period. Finally, Norges Bank bought a new stake in Tenable during the 4th quarter valued at $56,568,000. Institutional investors and hedge funds own 89.06% of the company’s stock.

Tenable Stock Performance

Shares of NASDAQ TENB opened at $40.37 on Friday. Tenable Holdings, Inc. has a 52-week low of $33.85 and a 52-week high of $53.50. The stock has a market capitalization of $4.80 billion, a price-to-earnings ratio of -69.60 and a beta of 0.83. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.98. The stock’s fifty day simple moving average is $41.69 and its 200 day simple moving average is $43.58.

Tenable (NASDAQ:TENBGet Free Report) last issued its quarterly earnings results on Wednesday, July 31st. The company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.03. Tenable had a negative return on equity of 7.63% and a negative net margin of 7.77%. The firm had revenue of $221.24 million for the quarter, compared to analysts’ expectations of $218.41 million. As a group, sell-side analysts forecast that Tenable Holdings, Inc. will post -0.06 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

TENB has been the subject of several recent analyst reports. Needham & Company LLC reissued a “buy” rating and issued a $50.00 price target on shares of Tenable in a research note on Friday, September 13th. Baird R W upgraded shares of Tenable to a “strong-buy” rating in a research report on Monday, July 15th. Westpark Capital cut shares of Tenable from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 1st. DA Davidson lowered shares of Tenable from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $56.00 to $40.00 in a research note on Thursday, August 1st. Finally, Robert W. Baird lowered their price objective on shares of Tenable from $55.00 to $53.00 and set an “outperform” rating on the stock in a research note on Thursday, August 1st. Four analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $52.67.

Check Out Our Latest Stock Analysis on TENB

Insider Activity

In related news, CFO Stephen A. Vintz sold 3,413 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $41.75, for a total value of $142,492.75. Following the completion of the transaction, the chief financial officer now owns 278,493 shares of the company’s stock, valued at approximately $11,627,082.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Tenable news, CFO Stephen A. Vintz sold 3,413 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $41.75, for a total transaction of $142,492.75. Following the sale, the chief financial officer now directly owns 278,493 shares of the company’s stock, valued at approximately $11,627,082.75. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Mark C. Thurmond sold 3,383 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $41.66, for a total value of $140,935.78. Following the completion of the sale, the chief operating officer now directly owns 34,079 shares of the company’s stock, valued at approximately $1,419,731.14. The disclosure for this sale can be found here. Insiders have sold 52,469 shares of company stock worth $2,429,076 over the last 90 days. 4.30% of the stock is owned by company insiders.

About Tenable

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Tenable (NASDAQ:TENB)

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