Algert Global LLC Makes New $739,000 Investment in Tenable Holdings, Inc. (NASDAQ:TENB)

Algert Global LLC acquired a new stake in Tenable Holdings, Inc. (NASDAQ:TENB) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 17,881 shares of the company’s stock, valued at approximately $739,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. grew its stake in Tenable by 66.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,976 shares of the company’s stock valued at $82,000 after acquiring an additional 786 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in Tenable by 27.0% during the 2nd quarter. Nisa Investment Advisors LLC now owns 2,920 shares of the company’s stock valued at $121,000 after buying an additional 620 shares during the last quarter. Harbor Investment Advisory LLC raised its holdings in Tenable by 27.4% during the 2nd quarter. Harbor Investment Advisory LLC now owns 3,457 shares of the company’s stock valued at $143,000 after buying an additional 744 shares during the last quarter. Lazard Asset Management LLC raised its holdings in Tenable by 20.5% during the 2nd quarter. Lazard Asset Management LLC now owns 3,794 shares of the company’s stock valued at $156,000 after buying an additional 646 shares during the last quarter. Finally, Advisors Asset Management Inc. bought a new stake in Tenable during the 2nd quarter valued at $196,000. 85.62% of the stock is currently owned by institutional investors.

In other news, CEO Amit Yoran sold 6,550 shares of the business’s stock in a transaction dated Friday, August 20th. The shares were sold at an average price of $40.39, for a total value of $264,554.50. Following the sale, the chief executive officer now directly owns 213,059 shares in the company, valued at approximately $8,605,453.01. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Stephen A. Riddick sold 1,896 shares of Tenable stock in a transaction dated Friday, August 20th. The stock was sold at an average price of $40.39, for a total transaction of $76,579.44. The disclosure for this sale can be found here. In the last quarter, insiders sold 70,952 shares of company stock worth $3,179,876. 8.40% of the stock is owned by company insiders.

A number of analysts have recently weighed in on TENB shares. Berenberg Bank raised shares of Tenable from a “hold” rating to a “buy” rating and set a $55.00 target price on the stock in a research report on Friday, September 24th. FBN Securities started coverage on shares of Tenable in a research note on Wednesday, August 25th. They set an “outperform” rating and a $60.00 target price on the stock. Summit Insights reaffirmed a “buy” rating on shares of Tenable in a report on Tuesday, July 27th. Needham & Company LLC reissued a “buy” rating and issued a $58.00 target price (up from $51.00) on shares of Tenable in a report on Wednesday, July 28th. Finally, Wells Fargo & Company began coverage on Tenable in a research report on Monday, October 4th. They issued an “overweight” rating and a $60.00 price target for the company. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $58.15.

TENB traded up $0.63 during midday trading on Thursday, reaching $51.16. 7,075 shares of the company’s stock were exchanged, compared to its average volume of 1,052,971. The firm has a market capitalization of $5.45 billion, a price-to-earnings ratio of -194.35 and a beta of 1.69. The business has a 50-day simple moving average of $45.23 and a two-hundred day simple moving average of $42.46. Tenable Holdings, Inc. has a one year low of $33.25 and a one year high of $58.45.

Tenable (NASDAQ:TENB) last announced its quarterly earnings results on Tuesday, July 27th. The company reported $0.09 EPS for the quarter, beating the Zacks’ consensus estimate of $0.05 by $0.04. The business had revenue of $130.26 million for the quarter, compared to analyst estimates of $125.53 million. Tenable had a negative net margin of 5.62% and a negative return on equity of 11.68%. Tenable’s quarterly revenue was up 21.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.04 EPS. Analysts predict that Tenable Holdings, Inc. will post -0.48 EPS for the current fiscal year.

Tenable Company Profile

Tenable Holdings, Inc engages in the development of security software solutions. It offers Cyber Exposure which is a discipline for managing and measuring cybersecurity risk in the digital era. Its products include tenable.io, tenable.sc, tenable.ot, and nessus professional. The firm delivers solutions in the field of application security, cloud security, compliance, energy, finance, healthcare, and retail.

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Institutional Ownership by Quarter for Tenable (NASDAQ:TENB)

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