The Manufacturers Life Insurance Company Acquires 196,810 Shares of Tenable Holdings, Inc. (NASDAQ:TENB)

The Manufacturers Life Insurance Company increased its holdings in Tenable Holdings, Inc. (NASDAQ:TENB) by 37.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 719,012 shares of the company’s stock after acquiring an additional 196,810 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.60% of Tenable worth $31,335,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Daventry Group LP increased its stake in shares of Tenable by 1.8% during the second quarter. Daventry Group LP now owns 1,044,718 shares of the company’s stock valued at $45,529,000 after purchasing an additional 18,142 shares in the last quarter. Xponance Inc. increased its position in Tenable by 5.5% during the 2nd quarter. Xponance Inc. now owns 7,441 shares of the company’s stock valued at $324,000 after buying an additional 389 shares in the last quarter. DRW Securities LLC bought a new position in Tenable during the 2nd quarter valued at approximately $222,000. RGM Capital LLC raised its stake in Tenable by 4.5% during the second quarter. RGM Capital LLC now owns 3,539,236 shares of the company’s stock valued at $154,240,000 after buying an additional 153,127 shares during the last quarter. Finally, Sei Investments Co. boosted its holdings in Tenable by 45.0% in the second quarter. Sei Investments Co. now owns 25,408 shares of the company’s stock worth $1,107,000 after acquiring an additional 7,884 shares in the last quarter. 89.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TENB has been the subject of several recent analyst reports. Stifel Nicolaus lowered their price target on Tenable from $54.00 to $52.00 and set a “buy” rating for the company in a research report on Thursday, August 1st. Robert W. Baird decreased their target price on shares of Tenable from $55.00 to $53.00 and set an “outperform” rating for the company in a report on Thursday, August 1st. DA Davidson cut shares of Tenable from a “buy” rating to a “neutral” rating and cut their price target for the company from $56.00 to $40.00 in a report on Thursday, August 1st. Piper Sandler decreased their price objective on shares of Tenable from $60.00 to $55.00 and set an “overweight” rating for the company in a report on Thursday, August 1st. Finally, Canaccord Genuity Group cut their target price on Tenable from $57.00 to $53.00 and set a “buy” 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. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $52.67.

Insider Activity

In related news, COO Mark C. Thurmond sold 3,383 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $41.66, for a total value of $140,935.78. Following the completion of the transaction, the chief operating officer now owns 34,079 shares of the company’s stock, valued at approximately $1,419,731.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Tenable news, CEO Amit Yoran sold 40,000 shares of the stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $47.72, for a total transaction of $1,908,800.00. Following the completion of the transaction, the chief executive officer now owns 387,356 shares in the company, valued at $18,484,628.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Mark C. Thurmond sold 3,383 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $41.66, for a total transaction of $140,935.78. Following the completion of the sale, the chief operating officer now owns 34,079 shares in the company, valued at $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 in the last three months. Company insiders own 4.30% of the company’s stock.

Tenable Stock Up 1.5 %

Shares of NASDAQ TENB opened at $40.52 on Tuesday. Tenable Holdings, Inc. has a 12-month low of $33.85 and a 12-month high of $53.50. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.21 and a current ratio of 1.21. The firm has a 50 day moving average of $41.22 and a 200 day moving average of $43.32.

Tenable (NASDAQ:TENB) last announced its quarterly earnings data on Wednesday, July 31st. The company reported ($0.05) earnings per share (EPS) for the quarter, beating 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 company had revenue of $221.24 million during the quarter, compared to the consensus estimate of $218.41 million. Sell-side analysts expect that Tenable Holdings, Inc. will post -0.06 earnings per share for the current fiscal year.

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.