Daventry Group LP Boosts Position in Tenable Holdings, Inc. (NASDAQ:TENB)

Daventry Group LP raised its stake in Tenable Holdings, Inc. (NASDAQ:TENB) by 1.8% in the 2nd quarter, Holdings Channel.com reports. The firm owned 1,044,718 shares of the company’s stock after acquiring an additional 18,142 shares during the period. Tenable makes up 20.3% of Daventry Group LP’s holdings, making the stock its biggest holding. Daventry Group LP’s holdings in Tenable were worth $45,529,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Quest Partners LLC bought a new stake in Tenable during the second quarter valued at $40,000. Fidelis Capital Partners LLC bought a new position in Tenable in the first quarter worth about $58,000. Allspring Global Investments Holdings LLC boosted its stake in Tenable by 9.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 3,708 shares of the company’s stock valued at $183,000 after acquiring an additional 312 shares during the period. Truvestments Capital LLC bought a new position in shares of Tenable during the first quarter valued at approximately $189,000. Finally, DRW Securities LLC acquired a new stake in shares of Tenable during the 2nd quarter worth approximately $222,000. Institutional investors and hedge funds own 89.06% of the company’s stock.

Tenable Price Performance

Shares of NASDAQ TENB opened at $39.70 on Thursday. Tenable Holdings, Inc. has a twelve month low of $33.85 and a twelve month high of $53.50. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.98. The firm has a 50-day moving average of $41.37 and a two-hundred day moving average of $43.44. The company has a market capitalization of $4.73 billion, a price-to-earnings ratio of -68.45 and a beta of 0.83.

Tenable (NASDAQ:TENB) last announced its earnings results on Wednesday, July 31st. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.08) by $0.03. The business had revenue of $221.24 million during the quarter, compared to the consensus estimate of $218.41 million. Tenable had a negative return on equity of 7.63% and a negative net margin of 7.77%. As a group, analysts expect that Tenable Holdings, Inc. will post -0.06 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

TENB has been the subject of a number of analyst reports. Susquehanna reduced their price objective on Tenable from $60.00 to $48.00 and set a “positive” rating for the company in a research report on Thursday, August 1st. Truist Financial reiterated a “buy” rating and issued a $55.00 price objective (down from $60.00) on shares of Tenable in a research report on Thursday, August 1st. Needham & Company LLC restated a “buy” rating and issued a $50.00 target price on shares of Tenable in a research report on Friday, September 13th. Wells Fargo & Company reduced their price objective on Tenable from $60.00 to $50.00 and set an “overweight” rating for the company in a research report on Thursday, August 1st. Finally, Westpark Capital cut Tenable from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 1st. Four investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Tenable has a consensus rating of “Moderate Buy” and a consensus target price of $52.67.

Insider Transactions at Tenable

In other news, CEO Amit Yoran sold 40,000 shares of the firm’s 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 transaction, the chief executive officer now owns 387,356 shares in the company, valued at approximately $18,484,628.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Amit Yoran sold 40,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 30th. The stock was 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 directly owns 387,356 shares in the company, valued at $18,484,628.32. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Stephen A. Vintz sold 3,413 shares of the business’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $41.75, for a total transaction of $142,492.75. Following the transaction, the chief financial officer now directly owns 278,493 shares in the company, valued at approximately $11,627,082.75. The disclosure for this sale can be found here. Insiders sold a total of 52,469 shares of company stock valued at $2,429,076 over the last quarter. Company insiders own 4.30% of the company’s stock.

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.