Cramer Rosenthal Mcglynn LLC Reduces Stock Position in Tenable Holdings, Inc. (NASDAQ:TENB)

Cramer Rosenthal Mcglynn LLC trimmed its holdings in Tenable Holdings, Inc. (NASDAQ:TENB) by 79.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 142,717 shares of the company’s stock after selling 550,138 shares during the period. Cramer Rosenthal Mcglynn LLC owned approximately 0.12% of Tenable worth $5,620,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new stake in Tenable during the 4th quarter worth about $54,950,000. Vanguard Group Inc. increased its position in shares of Tenable by 5.3% in the fourth quarter. Vanguard Group Inc. now owns 13,947,023 shares of the company’s stock worth $549,234,000 after purchasing an additional 708,249 shares during the last quarter. Assenagon Asset Management S.A. bought a new position in shares of Tenable in the 4th quarter worth $15,653,000. FMR LLC raised its position in shares of Tenable by 2.0% during the 4th quarter. FMR LLC now owns 15,515,164 shares of the company’s stock valued at $610,987,000 after buying an additional 304,237 shares in the last quarter. Finally, Trexquant Investment LP bought a new stake in shares of Tenable during the 4th quarter worth $11,170,000. Hedge funds and other institutional investors own 89.06% of the company’s stock.

Insider Buying and Selling at Tenable

In other Tenable news, CEO Mark C. Thurmond sold 3,606 shares of the company’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $38.48, for a total value of $138,758.88. Following the sale, the chief executive officer now owns 74,295 shares in the company, valued at approximately $2,858,871.60. This represents a 4.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Linda Kay Zecher sold 2,500 shares of Tenable stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $37.00, for a total transaction of $92,500.00. Following the transaction, the director now owns 353 shares of the company’s stock, valued at $13,061. The trade was a 87.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 14,128 shares of company stock valued at $539,256. 4.30% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

TENB has been the topic of a number of research reports. Cantor Fitzgerald started coverage on Tenable in a research report on Monday, March 31st. They set an “overweight” rating and a $50.00 price target on the stock. Stephens initiated coverage on Tenable in a research report on Tuesday, April 1st. They issued an “equal weight” rating and a $42.00 target price for the company. Morgan Stanley reduced their price target on shares of Tenable from $40.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Truist Financial cut their price objective on shares of Tenable from $48.00 to $45.00 and set a “buy” rating for the company in a research note on Monday, March 31st. Finally, Barclays reduced their price objective on Tenable from $48.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Monday. Seven investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $46.71.

Tenable Price Performance

Shares of NASDAQ TENB opened at $31.44 on Friday. Tenable Holdings, Inc. has a 1 year low of $30.50 and a 1 year high of $49.18. The stock has a market capitalization of $3.78 billion, a P/E ratio of -104.80 and a beta of 0.88. The company’s 50-day moving average is $36.11 and its 200 day moving average is $39.56. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.28 and a quick ratio of 1.28.

Tenable (NASDAQ:TENB) last posted its earnings results on Wednesday, February 5th. The company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.26). Tenable had a negative return on equity of 2.07% and a negative net margin of 4.03%. On average, sell-side analysts expect that Tenable Holdings, Inc. will post 0.12 earnings per share for the current year.

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.