Readystate Asset Management LP Purchases Shares of 608,582 Tenable Holdings, Inc. (NASDAQ:TENB)

Readystate Asset Management LP acquired a new stake in Tenable Holdings, Inc. (NASDAQ:TENB - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 608,582 shares of the company's stock, valued at approximately $24,660,000. Tenable accounts for approximately 0.5% of Readystate Asset Management LP's investment portfolio, making the stock its 20th biggest holding. Readystate Asset Management LP owned about 0.51% of Tenable at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of TENB. Fiera Capital Corp acquired a new position in Tenable in the third quarter worth about $2,494,000. Panagora Asset Management Inc. grew its stake in Tenable by 10.1% in the second quarter. Panagora Asset Management Inc. now owns 373,507 shares of the company's stock worth $16,277,000 after purchasing an additional 34,254 shares in the last quarter. Harbor Capital Advisors Inc. grew its stake in Tenable by 51.0% in the third quarter. Harbor Capital Advisors Inc. now owns 46,757 shares of the company's stock worth $1,895,000 after purchasing an additional 15,794 shares in the last quarter. Cornercap Investment Counsel Inc. grew its stake in Tenable by 116.3% in the second quarter. Cornercap Investment Counsel Inc. now owns 24,595 shares of the company's stock worth $1,072,000 after purchasing an additional 13,222 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd grew its stake in Tenable by 263.3% in the third quarter. Dynamic Technology Lab Private Ltd now owns 26,213 shares of the company's stock worth $1,062,000 after purchasing an additional 18,998 shares in the last quarter. 89.06% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO Stephen A. Vintz sold 3,180 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $42.74, for a total value of $135,913.20. Following the transaction, the chief financial officer now directly owns 285,045 shares in the company, valued at $12,182,823.30. This represents a 1.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Amit Yoran sold 4,828 shares of the stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $40.72, for a total transaction of $196,596.16. Following the completion of the sale, the chief executive officer now owns 45,171 shares in the company, valued at approximately $1,839,363.12. This trade represents a 9.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 20,654 shares of company stock valued at $862,879. Insiders own 4.30% of the company's stock.

Tenable Stock Performance

Tenable stock traded up $0.89 on Thursday, reaching $43.62. 291,675 shares of the stock were exchanged, compared to its average volume of 922,156. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.88. Tenable Holdings, Inc. has a twelve month low of $35.25 and a twelve month high of $53.50. The firm has a fifty day moving average price of $41.39 and a two-hundred day moving average price of $41.61.

Analyst Ratings Changes

A number of brokerages have commented on TENB. Robert W. Baird decreased their target price on Tenable from $53.00 to $50.00 and set an "outperform" rating for the company in a research note on Friday, October 25th. Morgan Stanley restated an "equal weight" rating and issued a $47.00 target price (down from $50.00) on shares of Tenable in a research note on Monday. Jefferies Financial Group started coverage on Tenable in a research note on Wednesday, October 16th. They issued a "hold" rating and a $45.00 target price for the company. Piper Sandler cut their price target on Tenable from $55.00 to $50.00 and set an "overweight" rating on the stock in a report on Thursday, October 31st. Finally, Westpark Capital reaffirmed a "hold" rating on shares of Tenable in a report on Thursday, October 31st. Six investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Tenable has a consensus rating of "Moderate Buy" and an average price target of $50.63.

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.