Emerald Advisers LLC Sells 212,272 Shares of Tenable Holdings, Inc. (NASDAQ:TENB)

Emerald Advisers LLC reduced its holdings in shares of Tenable Holdings, Inc. (NASDAQ:TENB - Free Report) by 25.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 615,929 shares of the company's stock after selling 212,272 shares during the quarter. Emerald Advisers LLC owned approximately 0.51% of Tenable worth $24,255,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in Tenable by 5.3% during 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. Readystate Asset Management LP acquired a new position in shares of Tenable during the 3rd quarter worth about $24,660,000. Assenagon Asset Management S.A. bought a new position in shares of Tenable in the 4th quarter valued at about $15,653,000. FMR LLC increased its position in shares of Tenable by 2.0% in the third quarter. FMR LLC now owns 15,210,927 shares of the company's stock valued at $616,347,000 after acquiring an additional 305,334 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in Tenable by 28.0% during the third quarter. The Manufacturers Life Insurance Company now owns 920,378 shares of the company's stock worth $37,294,000 after acquiring an additional 201,366 shares in the last quarter. 89.06% of the stock is currently owned by institutional investors and hedge funds.

Tenable Stock Performance

TENB stock traded down $0.46 during mid-day trading on Thursday, hitting $35.96. 596,371 shares of the company were exchanged, compared to its average volume of 925,722. Tenable Holdings, Inc. has a 1-year low of $35.25 and a 1-year high of $50.30. The business has a 50 day simple moving average of $39.27 and a 200-day simple moving average of $40.35. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.88. The stock has a market capitalization of $4.33 billion, a PE ratio of -119.87 and a beta of 0.87.

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Tenable (NASDAQ:TENB - Get Free Report) last released its quarterly earnings results on Wednesday, February 5th. The company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.26). Tenable had a negative net margin of 4.03% and a negative return on equity of 2.07%. On average, equities analysts forecast that Tenable Holdings, Inc. will post 0.12 earnings per share for the current year.

Insider Activity

In other Tenable news, Director Raymond Jr. Vicks sold 809 shares of the stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $38.52, for a total transaction of $31,162.68. Following the transaction, the director now owns 8,659 shares in the company, valued at $333,544.68. This represents a 8.54 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Stephen A. Vintz sold 6,681 shares of Tenable stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $38.16, for a total transaction of $254,946.96. Following the completion of the sale, the chief executive officer now owns 316,523 shares of the company's stock, valued at approximately $12,078,517.68. The trade was a 2.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 14,937 shares of company stock valued at $570,418. 4.30% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Needham & Company LLC restated a "buy" rating and issued a $50.00 price target on shares of Tenable in a research note on Thursday, February 6th. Stifel Nicolaus downgraded shares of Tenable from a "buy" rating to a "hold" rating and lowered their target price for the stock from $46.00 to $45.00 in a report on Friday, January 17th. Morgan Stanley assumed coverage on shares of Tenable in a research report on Tuesday, March 18th. They set an "equal weight" rating and a $40.00 price target on the stock. Scotiabank lifted their price objective on shares of Tenable from $44.00 to $45.00 and gave the company a "sector perform" rating in a research report on Tuesday, January 21st. Finally, Barclays upped their target price on shares of Tenable from $45.00 to $48.00 and gave the company an "equal weight" rating in a report on Thursday, February 6th. Seven analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $49.20.

Tenable Company 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.