Summit Global Investments Purchases Shares of 38,664 Tenable Holdings, Inc. (NASDAQ:TENB)

Summit Global Investments purchased a new stake in Tenable Holdings, Inc. (NASDAQ:TENB) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 38,664 shares of the company’s stock, valued at approximately $1,523,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TENB. Larson Financial Group LLC increased its position in Tenable by 658.6% in the 3rd quarter. Larson Financial Group LLC now owns 751 shares of the company’s stock valued at $30,000 after acquiring an additional 652 shares during the period. SBI Securities Co. Ltd. acquired a new stake in shares of Tenable during the fourth quarter worth $38,000. Nisa Investment Advisors LLC increased its position in shares of Tenable by 74.1% during the fourth quarter. Nisa Investment Advisors LLC now owns 2,753 shares of the company’s stock worth $108,000 after buying an additional 1,172 shares during the period. Pacer Advisors Inc. increased its position in shares of Tenable by 30.3% during the fourth quarter. Pacer Advisors Inc. now owns 2,823 shares of the company’s stock worth $111,000 after buying an additional 657 shares during the period. Finally, R Squared Ltd acquired a new stake in shares of Tenable during the fourth quarter worth $126,000. 89.06% of the stock is currently owned by institutional investors and hedge funds.

Tenable Stock Up 0.3 %

Tenable stock opened at $36.25 on Friday. Tenable Holdings, Inc. has a 1-year low of $35.25 and a 1-year high of $50.30. The firm has a market capitalization of $4.36 billion, a price-to-earnings ratio of -120.83 and a beta of 0.87. The firm’s fifty day moving average price is $39.57 and its two-hundred day moving average price is $40.45. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.88.

Tenable (NASDAQ:TENB) last released its quarterly earnings data 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 net margin of 4.03% and a negative return on equity of 2.07%. On average, equities research analysts predict that Tenable Holdings, Inc. will post 0.12 earnings per share for the current fiscal year.

Insider Buying and Selling at Tenable

In related news, Director Raymond Jr. Vicks sold 809 shares of the firm’s stock in a transaction dated 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 directly owns 8,659 shares of the company’s stock, valued at $333,544.68. This trade represents a 8.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Stephen A. Vintz sold 6,681 shares of the firm’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $38.16, for a total transaction of $254,946.96. Following the transaction, the chief executive officer now directly owns 316,523 shares in the company, valued at $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 three months, insiders have sold 14,937 shares of company stock valued at $570,418. Corporate insiders own 4.30% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Stifel Nicolaus cut shares of Tenable from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $46.00 to $45.00 in a research report on Friday, January 17th. Needham & Company LLC reiterated a “buy” rating and set a $50.00 price objective on shares of Tenable in a research report on Thursday, February 6th. Morgan Stanley initiated coverage on shares of Tenable in a report on Tuesday, March 18th. They issued an “equal weight” rating and a $40.00 price target for the company. Barclays raised their price target on shares of Tenable from $45.00 to $48.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. Finally, Scotiabank raised their price target on shares of Tenable from $44.00 to $45.00 and gave the stock a “sector perform” rating in a report on Tuesday, January 21st. Seven equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Tenable presently has an average rating of “Moderate Buy” and a consensus price target of $49.20.

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.