William Blair Investment Management LLC Sells 262,333 Shares of Tenable Holdings, Inc. (NASDAQ:TENB)

William Blair Investment Management LLC lowered its stake in Tenable Holdings, Inc. (NASDAQ:TENB) by 7.5% during the second quarter, Holdings Channel reports. The institutional investor owned 3,228,968 shares of the company’s stock after selling 262,333 shares during the period. William Blair Investment Management LLC’s holdings in Tenable were worth $140,718,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of TENB. Principal Securities Inc. bought a new stake in shares of Tenable during the fourth quarter worth approximately $35,000. Quest Partners LLC acquired a new stake in Tenable during the 2nd quarter worth approximately $40,000. Fidelis Capital Partners LLC bought a new stake in Tenable in the 1st quarter valued at $58,000. Verity & Verity LLC acquired a new position in Tenable in the 1st quarter valued at $127,000. Finally, Allspring Global Investments Holdings LLC increased its position in Tenable by 9.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,708 shares of the company’s stock worth $183,000 after buying an additional 312 shares during the period. 89.06% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on TENB shares. Canaccord Genuity Group decreased their price target on shares of Tenable from $57.00 to $53.00 and set a “buy” rating on the stock in a research note on Thursday, August 1st. Wells Fargo & Company decreased their target price on shares of Tenable from $60.00 to $50.00 and set an “overweight” rating on the stock in a research report on Thursday, August 1st. Needham & Company LLC reiterated a “buy” rating and issued a $50.00 price target on shares of Tenable in a research report on Friday. Truist Financial reissued a “buy” rating and set a $55.00 price target (down previously from $60.00) on shares of Tenable in a research report on Thursday, August 1st. Finally, Baird R W upgraded Tenable to a “strong-buy” rating in a research note on Monday, July 15th. Four research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $52.81.

Tenable Stock Performance

NASDAQ:TENB opened at $39.74 on Friday. The stock’s 50-day moving average is $41.94 and its 200-day moving average is $43.86. Tenable Holdings, Inc. has a 1-year low of $33.85 and a 1-year high of $53.50. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.98. The stock has a market cap of $4.72 billion, a P/E ratio of -68.52 and a beta of 0.83.

Tenable (NASDAQ:TENB) last posted its earnings results on Wednesday, July 31st. The company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.03. Tenable had a negative net margin of 7.77% and a negative return on equity of 7.63%. Equities research analysts anticipate that Tenable Holdings, Inc. will post -0.06 earnings per share for the current year.

Insider Buying and Selling

In other Tenable news, COO Mark C. Thurmond sold 3,383 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $41.66, for a total transaction of $140,935.78. Following the completion of the sale, the chief operating officer now owns 34,079 shares of the company’s stock, valued at approximately $1,419,731.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Stephen A. Vintz sold 3,413 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $41.75, for a total value of $142,492.75. Following the transaction, the chief financial officer now owns 278,493 shares in the company, valued at $11,627,082.75. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, COO Mark C. Thurmond sold 3,383 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $41.66, for a total transaction of $140,935.78. Following the sale, the chief operating officer now directly owns 34,079 shares in the company, valued at approximately $1,419,731.14. The disclosure for this sale can be found here. Insiders have sold a total of 52,469 shares of company stock valued at $2,429,076 over the last ninety days. 4.30% of the stock is owned by company insiders.

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.