Comerica Bank Trims Stock Holdings in Tenable Holdings, Inc. (NASDAQ:TENB)

Comerica Bank lowered its stake in Tenable Holdings, Inc. (NASDAQ:TENB) by 20.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,792 shares of the company’s stock after selling 447 shares during the period. Comerica Bank’s holdings in Tenable were worth $71,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Schonfeld Strategic Advisors LLC boosted its stake in shares of Tenable by 377.4% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 40,750 shares of the company’s stock valued at $1,605,000 after acquiring an additional 32,214 shares during the last quarter. Paloma Partners Management Co lifted its position in Tenable by 540.7% during the fourth quarter. Paloma Partners Management Co now owns 40,000 shares of the company’s stock worth $1,575,000 after buying an additional 33,757 shares during the period. AQR Capital Management LLC boosted its stake in Tenable by 474.7% in the 4th quarter. AQR Capital Management LLC now owns 105,280 shares of the company’s stock worth $4,146,000 after buying an additional 86,962 shares during the last quarter. Northern Trust Corp grew its holdings in Tenable by 7.8% in the 4th quarter. Northern Trust Corp now owns 1,187,857 shares of the company’s stock valued at $46,778,000 after buying an additional 85,485 shares during the period. Finally, The Manufacturers Life Insurance Company increased its stake in shares of Tenable by 5.9% during the 4th quarter. The Manufacturers Life Insurance Company now owns 974,230 shares of the company’s stock valued at $38,365,000 after acquiring an additional 53,852 shares during the last quarter. 89.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Tenable

In related news, CEO Mark C. Thurmond sold 3,606 shares of Tenable stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $38.48, for a total value of $138,758.88. Following the completion of the sale, the chief executive officer now owns 74,295 shares of the company’s stock, valued at approximately $2,858,871.60. The trade was a 4.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Linda Kay Zecher sold 2,500 shares of the company’s stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $37.00, for a total transaction of $92,500.00. Following the sale, the director now directly owns 353 shares of the company’s stock, valued at approximately $13,061. This represents a 87.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 14,128 shares of company stock valued at $539,256. 1.50% of the stock is owned by insiders.

Tenable Stock Performance

Shares of TENB stock opened at $32.90 on Monday. The business has a 50 day simple moving average of $33.44 and a 200 day simple moving average of $38.16. 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 firm has a market capitalization of $4.02 billion, a price-to-earnings ratio of -109.67 and a beta of 0.83. Tenable Holdings, Inc. has a 12-month low of $28.75 and a 12-month high of $49.18.

Tenable (NASDAQ:TENB) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.08. Tenable had a negative return on equity of 2.07% and a negative net margin of 4.03%. The company had revenue of $239.14 million for the quarter, compared to analysts’ expectations of $234.12 million. During the same period last year, the firm earned $0.25 EPS. The firm’s revenue for the quarter was up 10.7% on a year-over-year basis. On average, equities research analysts anticipate that Tenable Holdings, Inc. will post 0.12 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. decreased their target price on shares of Tenable from $53.00 to $43.00 and set an “overweight” rating on the stock in a research report on Monday, April 28th. UBS Group cut their price objective on Tenable from $47.00 to $40.00 and set a “buy” rating on the stock in a report on Wednesday, April 30th. Westpark Capital reiterated a “hold” rating on shares of Tenable in a report on Wednesday, April 30th. Morgan Stanley cut their price target on shares of Tenable from $40.00 to $30.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 16th. Finally, Scotiabank decreased their price objective on shares of Tenable from $45.00 to $30.00 and set a “sector perform” rating for the company in a research note on Wednesday, April 30th. Eight research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $40.44.

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.