Capital Investment Counsel Inc Cuts Stake in Tenable Holdings, Inc. (NASDAQ:TENB)

Capital Investment Counsel Inc lessened its position in Tenable Holdings, Inc. (NASDAQ:TENB) by 2.6% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 8,639 shares of the company’s stock after selling 230 shares during the period. Capital Investment Counsel Inc’s holdings in Tenable were worth $398,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. William Blair Investment Management LLC raised its position in Tenable by 36.6% in the third quarter. William Blair Investment Management LLC now owns 3,028,310 shares of the company’s stock worth $135,668,000 after acquiring an additional 810,831 shares in the last quarter. Lord Abbett & CO. LLC increased its holdings in shares of Tenable by 114.7% in the 3rd quarter. Lord Abbett & CO. LLC now owns 1,006,755 shares of the company’s stock valued at $45,103,000 after purchasing an additional 537,886 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Tenable by 2.4% in the third quarter. Vanguard Group Inc. now owns 12,251,265 shares of the company’s stock valued at $548,857,000 after purchasing an additional 285,678 shares during the period. Comerica Bank acquired a new stake in shares of Tenable in the third quarter valued at about $12,559,000. Finally, American Century Companies Inc. boosted its holdings in Tenable by 15.9% during the third quarter. American Century Companies Inc. now owns 1,791,909 shares of the company’s stock worth $80,278,000 after buying an additional 245,243 shares in the last quarter. Hedge funds and other institutional investors own 89.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Wells Fargo & Company increased their target price on shares of Tenable from $55.00 to $60.00 and gave the company an “overweight” rating in a report on Wednesday, February 7th. Stephens lifted their price objective on Tenable from $60.00 to $62.00 and gave the stock an “overweight” rating in a report on Wednesday, February 7th. Scotiabank began coverage on Tenable in a research report on Friday. They set a “sector perform” rating and a $47.00 target price on the stock. Susquehanna raised their price target on Tenable from $55.00 to $60.00 and gave the company a “positive” rating in a research report on Thursday, February 8th. Finally, Westpark Capital upgraded shares of Tenable from a “hold” rating to a “buy” rating and set a $65.00 price objective on the stock in a research report on Friday, January 12th. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $57.20.

Tenable Stock Performance

Shares of NASDAQ TENB opened at $45.66 on Tuesday. The company has a 50-day simple moving average of $47.29 and a 200-day simple moving average of $45.16. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.19 and a quick ratio of 1.19. The company has a market cap of $5.42 billion, a PE ratio of -67.15 and a beta of 0.94. Tenable Holdings, Inc. has a 12 month low of $33.85 and a 12 month high of $53.50.

Tenable (NASDAQ:TENB) last released its earnings results on Tuesday, February 6th. The company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.12) by $0.06. The firm had revenue of $213.31 million during the quarter, compared to analysts’ expectations of $206.95 million. Tenable had a negative net margin of 9.80% and a negative return on equity of 15.19%. On average, equities analysts anticipate that Tenable Holdings, Inc. will post -0.12 earnings per share for the current year.

Insider Activity

In related news, COO Mark C. Thurmond sold 1,089 shares of the stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $47.73, for a total transaction of $51,977.97. Following the transaction, the chief operating officer now directly owns 48,846 shares in the company, valued at $2,331,419.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, COO Mark C. Thurmond sold 1,089 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $47.73, for a total value of $51,977.97. Following the completion of the sale, the chief operating officer now directly owns 48,846 shares in the company, valued at $2,331,419.58. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Stephen A. Vintz sold 15,505 shares of the stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $49.56, for a total transaction of $768,427.80. Following the transaction, the chief financial officer now directly owns 257,924 shares in the company, valued at approximately $12,782,713.44. The disclosure for this sale can be found here. Insiders sold a total of 317,382 shares of company stock valued at $15,021,615 over the last quarter. Company insiders own 4.30% of the company’s stock.

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.