Principal Financial Group Inc. Lowers Position in Tenable Holdings, Inc. (NASDAQ:TENB)

Principal Financial Group Inc. lowered its position in shares of Tenable Holdings, Inc. (NASDAQ:TENB) by 31.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,958 shares of the company’s stock after selling 4,972 shares during the quarter. Principal Financial Group Inc.’s holdings in Tenable were worth $444,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Covestor Ltd grew its stake in shares of Tenable by 84.5% in the 3rd quarter. Covestor Ltd now owns 631 shares of the company’s stock worth $26,000 after buying an additional 289 shares during the last quarter. Larson Financial Group LLC boosted its stake in Tenable by 658.6% during the 3rd quarter. Larson Financial Group LLC now owns 751 shares of the company’s stock valued at $30,000 after purchasing an additional 652 shares during the last quarter. Quest Partners LLC bought a new position in Tenable during the 2nd quarter valued at about $40,000. Truvestments Capital LLC purchased a new stake in shares of Tenable during the 3rd quarter valued at about $171,000. Finally, Susquehanna Fundamental Investments LLC bought a new stake in shares of Tenable in the second quarter worth approximately $200,000. Institutional investors own 89.06% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on TENB shares. Needham & Company LLC restated a “buy” rating and set a $50.00 price objective on shares of Tenable in a research report on Tuesday, October 29th. Morgan Stanley reiterated an “equal weight” rating and issued a $47.00 price objective (down previously from $50.00) on shares of Tenable in a research note on Monday, December 2nd. Westpark Capital restated a “hold” rating on shares of Tenable in a research report on Thursday, October 31st. Robert W. Baird decreased their price target on shares of Tenable from $53.00 to $50.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. Finally, Piper Sandler cut their price objective on shares of Tenable from $55.00 to $50.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. Six research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $50.63.

Tenable Trading Up 0.3 %

NASDAQ TENB opened at $39.08 on Monday. Tenable Holdings, Inc. has a 12 month low of $35.25 and a 12 month high of $53.50. The company’s 50-day moving average price is $41.28 and its 200-day moving average price is $41.51. The stock has a market cap of $4.69 billion, a PE ratio of -76.63 and a beta of 0.83. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.88.

Insider Buying and Selling

In other news, COO Mark C. Thurmond sold 2,209 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $40.72, for a total value of $89,950.48. Following the completion of the transaction, the chief operating officer now directly owns 35,480 shares in the company, valued at $1,444,745.60. This trade represents a 5.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Amit Yoran sold 5,293 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $42.74, for a total transaction of $226,222.82. Following the completion of the sale, the chief executive officer now owns 51,691 shares in the company, valued at $2,209,273.34. The trade was a 9.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 20,654 shares of company stock worth $862,879 in the last three months. 4.30% of the stock is owned by insiders.

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.