Principal Financial Group Inc. Sells 4,972 Shares of Tenable Holdings, Inc. (NASDAQ:TENB)

Principal Financial Group Inc. reduced its position in Tenable Holdings, Inc. (NASDAQ:TENB) by 31.2% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 10,958 shares of the company’s stock after selling 4,972 shares during the period. Principal Financial Group Inc.’s holdings in Tenable were worth $444,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in TENB. Quest Partners LLC purchased a new stake in shares of Tenable in the 2nd quarter worth approximately $40,000. Susquehanna Fundamental Investments LLC bought a new position in Tenable in the second quarter worth approximately $200,000. DRW Securities LLC purchased a new stake in Tenable during the second quarter worth $222,000. Olympiad Research LP boosted its position in Tenable by 11.1% during the 3rd quarter. Olympiad Research LP now owns 5,287 shares of the company’s stock valued at $214,000 after acquiring an additional 528 shares in the last quarter. Finally, MQS Management LLC purchased a new position in shares of Tenable in the 2nd quarter valued at $239,000. 89.06% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Tenable

In other news, COO Mark C. Thurmond sold 2,209 shares of Tenable stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $40.72, for a total value of $89,950.48. Following the sale, the chief operating officer now 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 Securities & Exchange Commission, which is available through this link. Also, CFO Stephen A. Vintz sold 2,801 shares of the company’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $40.72, for a total transaction of $114,056.72. Following the transaction, the chief financial officer now owns 281,536 shares of the company’s stock, valued at approximately $11,464,145.92. This trade represents a 0.99 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 9,838 shares of company stock worth $400,603. 4.30% of the stock is owned by company insiders.

Tenable Price Performance

Shares of NASDAQ TENB opened at $42.44 on Monday. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.28 and a quick ratio of 1.28. The firm’s 50 day simple moving average is $41.02 and its 200-day simple moving average is $41.74. Tenable Holdings, Inc. has a 12 month low of $35.25 and a 12 month high of $53.50. The stock has a market capitalization of $5.10 billion, a price-to-earnings ratio of -83.22 and a beta of 0.83.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Susquehanna dropped their price objective on Tenable from $60.00 to $48.00 and set a “positive” rating on the stock in a research report on Thursday, August 1st. Robert W. Baird cut their price objective 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. Morgan Stanley decreased their target price 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. Truist Financial reaffirmed a “buy” rating and issued a $55.00 price target (down from $60.00) on shares of Tenable in a report on Thursday, August 1st. Finally, Scotiabank decreased their price objective on Tenable from $47.00 to $44.00 and set a “sector perform” rating for the company in a report on Thursday, August 1st. Five research 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 stock. According to data from MarketBeat.com, Tenable currently has an average rating of “Moderate Buy” and an average target price of $50.81.

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.