JPMorgan Chase & Co. Trims Stock Holdings in Tenable Holdings, Inc. (NASDAQ:TENB)

JPMorgan Chase & Co. reduced its position in Tenable Holdings, Inc. (NASDAQ:TENB - Free Report) by 15.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 328,550 shares of the company's stock after selling 61,183 shares during the period. JPMorgan Chase & Co. owned 0.27% of Tenable worth $13,313,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. Covestor Ltd grew its stake in shares of Tenable by 84.5% during the third quarter. Covestor Ltd now owns 631 shares of the company's stock valued at $26,000 after buying an additional 289 shares during the last quarter. Larson Financial Group LLC grew its stake in shares of Tenable by 658.6% during the third quarter. Larson Financial Group LLC now owns 751 shares of the company's stock valued at $30,000 after buying an additional 652 shares during the last quarter. Quest Partners LLC bought a new position in shares of Tenable during the second quarter valued at approximately $40,000. Truvestments Capital LLC bought a new position in shares of Tenable during the third quarter valued at approximately $171,000. Finally, Susquehanna Fundamental Investments LLC bought a new position in shares of Tenable during the second quarter valued at approximately $200,000. 89.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on TENB. Piper Sandler cut their target price on Tenable from $55.00 to $50.00 and set an "overweight" rating on the stock in a research note on Thursday, October 31st. Westpark Capital reaffirmed a "hold" rating on shares of Tenable in a research note on Thursday, October 31st. Jefferies Financial Group upped their target price on Tenable from $40.00 to $45.00 and gave the company a "hold" rating in a research note on Thursday, December 19th. Morgan Stanley reissued 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. Finally, Robert W. Baird dropped their price objective on Tenable from $53.00 to $50.00 and set an "outperform" rating on the stock in a research note on Friday, October 25th. Six equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $50.63.

Tenable Stock Down 1.0 %

NASDAQ TENB traded down $0.40 during midday trading on Friday, hitting $38.49. 729,885 shares of the company traded hands, compared to its average volume of 795,814. 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 company has a market cap of $4.62 billion, a PE ratio of -75.47 and a beta of 0.85. The company's 50-day simple moving average is $41.15 and its 200-day simple moving average is $41.48. Tenable Holdings, Inc. has a 52 week low of $35.25 and a 52 week high of $53.50.

Insider Activity

In related news, CFO Stephen A. Vintz sold 2,801 shares of the firm's stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $40.72, for a total value of $114,056.72. Following the completion of the transaction, the chief financial officer now owns 281,536 shares in the company, valued at $11,464,145.92. This trade represents a 0.99 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Raymond Jr. Vicks sold 809 shares of the firm's stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $38.52, for a total value of $31,162.68. Following the completion of the transaction, the director now owns 8,659 shares of the company's stock, valued at $333,544.68. This trade represents a 8.54 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 21,463 shares of company stock worth $894,042. Insiders own 4.30% of the company's stock.

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.