Entropy Technologies LP Makes New Investment in Tenable Holdings, Inc. (NASDAQ:TENB)

Entropy Technologies LP acquired a new stake in Tenable Holdings, Inc. (NASDAQ:TENB) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 8,414 shares of the company’s stock, valued at approximately $341,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Tidal Investments LLC boosted its holdings in shares of Tenable by 157.8% during the 1st 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 in the last quarter. CANADA LIFE ASSURANCE Co boosted its stake in Tenable by 21.0% during the first quarter. CANADA LIFE ASSURANCE Co now owns 352,468 shares of the company’s stock worth $17,408,000 after acquiring an additional 61,080 shares in the last quarter. Fiera Capital Corp acquired a new stake in Tenable in the third quarter worth $2,494,000. ProShare Advisors LLC increased its stake in Tenable by 10.1% in the first quarter. ProShare Advisors LLC now owns 21,283 shares of the company’s stock valued at $1,052,000 after purchasing an additional 1,961 shares in the last quarter. Finally, Bayesian Capital Management LP acquired a new position in shares of Tenable during the first quarter valued at about $1,310,000. Institutional investors own 89.06% of the company’s stock.

Tenable Stock Performance

Shares of TENB opened at $40.79 on Friday. The stock has a 50 day moving average of $40.81 and a 200 day moving average of $41.88. The company has a market capitalization of $4.90 billion, a price-to-earnings ratio of -79.98 and a beta of 0.83. Tenable Holdings, Inc. has a 12 month low of $35.25 and a 12 month high of $53.50. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.88.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Truist Financial reaffirmed a “buy” rating and set a $55.00 price target (down from $60.00) on shares of Tenable in a research note on Thursday, August 1st. Barclays lowered their target price on Tenable from $49.00 to $45.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 31st. Morgan Stanley reduced their price target on shares of Tenable from $55.00 to $50.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Stifel Nicolaus lowered their price objective on shares of Tenable from $54.00 to $52.00 and set a “buy” rating on the stock in a report on Thursday, August 1st. Finally, Canaccord Genuity Group reduced their price objective on shares of Tenable from $57.00 to $53.00 and set a “buy” rating for the company in a report on Thursday, August 1st. Five research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $50.81.

Insider Activity

In related news, COO Mark C. Thurmond sold 3,383 shares of Tenable stock in a transaction that occurred 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 sale, the chief operating officer now owns 34,079 shares of the company’s stock, valued at approximately $1,419,731.14. The trade was a 9.03 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Amit Yoran sold 5,673 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $41.75, for a total value of $236,847.75. Following the transaction, the chief executive officer now directly owns 39,309 shares of the company’s stock, valued at approximately $1,641,150.75. This trade represents a 12.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 12,469 shares of company stock valued at $520,276 in the last ninety days. 4.30% of the stock is currently owned by insiders.

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.