Truist Financial Corp Buys New Holdings in Tenable Holdings, Inc. (NASDAQ:TENB)

Truist Financial Corp bought a new stake in shares of 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 bought 46,182 shares of the company’s stock, valued at approximately $1,819,000.

Several other institutional investors also recently bought and sold shares of TENB. Readystate Asset Management LP purchased a new stake in Tenable during the 3rd quarter valued at about $24,660,000. Assenagon Asset Management S.A. purchased a new stake in Tenable during the 4th quarter valued at about $15,653,000. FMR LLC boosted its holdings in Tenable by 2.0% during the 3rd quarter. FMR LLC now owns 15,210,927 shares of the company’s stock valued at $616,347,000 after acquiring an additional 305,334 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in Tenable by 28.0% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 920,378 shares of the company’s stock valued at $37,294,000 after acquiring an additional 201,366 shares during the period. Finally, Harbor Capital Advisors Inc. boosted its holdings in Tenable by 430.7% during the 4th quarter. Harbor Capital Advisors Inc. now owns 248,117 shares of the company’s stock valued at $9,771,000 after acquiring an additional 201,360 shares during the period. 89.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TENB has been the subject of several analyst reports. Jefferies Financial Group increased their target price on Tenable from $40.00 to $45.00 and gave the company a “hold” rating in a report on Thursday, December 19th. Scotiabank increased their price objective on Tenable from $44.00 to $45.00 and gave the stock a “sector perform” rating in a report on Tuesday, January 21st. Stifel Nicolaus cut Tenable from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $46.00 to $45.00 in a report on Friday, January 17th. Piper Sandler dropped their price objective on Tenable from $55.00 to $50.00 and set an “overweight” rating for the company in a report on Thursday, October 31st. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $47.00 price objective (down previously from $50.00) on shares of Tenable in a report on Monday, December 2nd. Seven investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Tenable has an average rating of “Moderate Buy” and an average price target of $49.67.

Insider Activity at Tenable

In related news, Director Raymond Jr. Vicks sold 809 shares of the firm’s stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $38.52, for a total transaction of $31,162.68. Following the completion of the transaction, the director now owns 8,659 shares of the company’s stock, valued at $333,544.68. This trade represents a 8.54 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Mark C. Thurmond sold 3,606 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 74,295 shares of the company’s stock, valued at approximately $2,858,871.60. This trade represents a 4.63 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,756 shares of company stock valued at $222,972 in the last 90 days. Corporate insiders own 4.30% of the company’s stock.

Tenable Trading Down 1.7 %

TENB opened at $38.06 on Thursday. Tenable Holdings, Inc. has a 52 week low of $35.25 and a 52 week high of $50.30. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.88. The stock has a market cap of $4.57 billion, a PE ratio of -126.87 and a beta of 0.87. The business has a 50 day moving average of $40.60 and a 200-day moving average of $41.01.

Tenable (NASDAQ:TENB) last posted 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%. Equities research analysts predict that Tenable Holdings, Inc. will post 0.12 earnings per share 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.