Norges Bank Takes $54.95 Million Position in Tenable Holdings, Inc. (NASDAQ:TENB)

Norges Bank bought a new stake in Tenable Holdings, Inc. (NASDAQ:TENB) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,395,370 shares of the company’s stock, valued at approximately $54,950,000.

A number of other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Tenable by 5.3% in the fourth quarter. Vanguard Group Inc. now owns 13,947,023 shares of the company’s stock valued at $549,234,000 after buying an additional 708,249 shares during the period. Readystate Asset Management LP bought a new position in Tenable during the 3rd quarter worth approximately $24,660,000. Assenagon Asset Management S.A. acquired a new position in shares of Tenable in the 4th quarter worth approximately $15,653,000. JPMorgan Chase & Co. boosted its stake in shares of Tenable by 67.5% in the 4th quarter. JPMorgan Chase & Co. now owns 550,278 shares of the company’s stock valued at $21,670,000 after purchasing an additional 221,728 shares during the last quarter. Finally, Harbor Capital Advisors Inc. increased its position in shares of Tenable by 430.7% during the fourth quarter. Harbor Capital Advisors Inc. now owns 248,117 shares of the company’s stock worth $9,771,000 after buying an additional 201,360 shares during the period. 89.06% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Mark C. Thurmond sold 3,606 shares of the company’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $38.48, for a total value of $138,758.88. Following the transaction, the chief executive officer now owns 74,295 shares in the company, valued at approximately $2,858,871.60. This represents a 4.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through 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 sale, the director now directly owns 8,659 shares of the company’s stock, valued at $333,544.68. This represents a 8.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 14,937 shares of company stock valued at $570,418. Insiders own 4.30% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on TENB. Truist Financial cut their price target on shares of Tenable from $48.00 to $45.00 and set a “buy” rating on the stock in a research report on Monday. Stephens assumed coverage on Tenable in a research note on Tuesday. They set an “equal weight” rating and a $42.00 target price for the company. Needham & Company LLC reiterated a “buy” rating and issued a $50.00 target price on shares of Tenable in a report on Thursday, February 6th. Morgan Stanley assumed coverage on Tenable in a report on Tuesday, March 18th. They set an “equal weight” rating and a $40.00 price target on the stock. Finally, Jefferies Financial Group lowered their price objective on shares of Tenable from $45.00 to $37.00 and set a “hold” rating for the company in a research note on Monday. Seven research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $47.76.

Tenable Stock Performance

NASDAQ TENB opened at $33.35 on Friday. 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 fifty day moving average price of $38.56 and a 200-day moving average price of $40.19. Tenable Holdings, Inc. has a 1 year low of $32.96 and a 1 year high of $50.07. The firm has a market cap of $4.01 billion, a price-to-earnings ratio of -111.17 and a beta of 0.87.

Tenable (NASDAQ:TENB) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $0.08 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%. As a group, equities research analysts predict that Tenable Holdings, Inc. will post 0.12 EPS for the current fiscal year.

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.