Principal Financial Group Inc. Lowers Stock Position in Tenable Holdings, Inc. (NASDAQ:TENB)

Principal Financial Group Inc. cut its holdings in Tenable Holdings, Inc. (NASDAQ:TENB) by 31.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,958 shares of the company’s stock after selling 4,972 shares during the quarter. Principal Financial Group Inc.’s holdings in Tenable were worth $444,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Xponance Inc. grew its holdings in Tenable by 5.5% in the second quarter. Xponance Inc. now owns 7,441 shares of the company’s stock worth $324,000 after purchasing an additional 389 shares during the period. Fulton Bank N.A. grew its stake in shares of Tenable by 5.7% in the 3rd quarter. Fulton Bank N.A. now owns 8,202 shares of the company’s stock worth $332,000 after buying an additional 443 shares during the last quarter. Olympiad Research LP grew its stake in shares of Tenable by 11.1% in the 3rd quarter. Olympiad Research LP now owns 5,287 shares of the company’s stock worth $214,000 after buying an additional 528 shares during the last quarter. American International Group Inc. increased its position in Tenable by 1.0% during the 1st quarter. American International Group Inc. now owns 57,385 shares of the company’s stock valued at $2,837,000 after buying an additional 592 shares in the last quarter. Finally, Los Angeles Capital Management LLC raised its stake in Tenable by 1.3% during the second quarter. Los Angeles Capital Management LLC now owns 48,606 shares of the company’s stock valued at $2,118,000 after buying an additional 609 shares during the last quarter. 89.06% of the stock is currently owned by institutional investors.

Insider Activity

In other news, COO Mark C. Thurmond sold 2,209 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $40.72, for a total value of $89,950.48. Following the completion of the sale, the chief operating officer now directly owns 35,480 shares of the company’s stock, valued at $1,444,745.60. This trade represents a 5.86 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Amit Yoran sold 4,828 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $40.72, for a total value of $196,596.16. Following the transaction, the chief executive officer now directly owns 45,171 shares in the company, valued at approximately $1,839,363.12. This represents a 9.66 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 9,838 shares of company stock worth $400,603. 4.30% of the stock is currently owned by insiders.

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. Needham & Company LLC restated a “buy” rating and set a $50.00 price objective on shares of Tenable in a research note on Tuesday, October 29th. Barclays decreased their target price on shares of Tenable from $49.00 to $45.00 and set an “equal weight” rating for the company in a report on Thursday, October 31st. Canaccord Genuity Group cut their price target on shares of Tenable from $57.00 to $53.00 and set a “buy” rating on the stock in a report on Thursday, August 1st. Finally, Morgan Stanley decreased their price objective on shares of Tenable from $55.00 to $50.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Five investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Tenable presently has a consensus rating of “Moderate Buy” and a consensus price target of $50.81.

Tenable Stock Up 1.4 %

TENB opened at $42.44 on Monday. The company has a market capitalization of $5.10 billion, a PE ratio of -83.22 and a beta of 0.83. The firm has a 50-day simple moving average of $41.02 and a two-hundred day simple moving average of $41.74. 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 52 week low of $35.25 and a 52 week high of $53.50.

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.