Summit Global Investments Invests $1.52 Million in Tenable Holdings, Inc. (NASDAQ:TENB)

Summit Global Investments acquired a new position in shares of Tenable Holdings, Inc. (NASDAQ:TENB) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 38,664 shares of the company’s stock, valued at approximately $1,523,000.

Several other institutional investors also recently modified their holdings of the company. Teacher Retirement System of Texas increased its stake in shares of Tenable by 64.5% during the 4th quarter. Teacher Retirement System of Texas now owns 23,933 shares of the company’s stock worth $942,000 after purchasing an additional 9,385 shares during the last quarter. Xponance Inc. increased its stake in shares of Tenable by 9.9% during the 4th quarter. Xponance Inc. now owns 8,459 shares of the company’s stock worth $333,000 after purchasing an additional 763 shares during the last quarter. Thrivent Financial for Lutherans increased its stake in shares of Tenable by 10.4% during the 4th quarter. Thrivent Financial for Lutherans now owns 38,273 shares of the company’s stock worth $1,507,000 after purchasing an additional 3,600 shares during the last quarter. Cibc World Markets Corp acquired a new position in shares of Tenable during the 4th quarter worth about $435,000. Finally, Hilton Capital Management LLC grew its stake in Tenable by 4.5% in the 4th quarter. Hilton Capital Management LLC now owns 35,268 shares of the company’s stock valued at $1,389,000 after buying an additional 1,532 shares during the last quarter. 89.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Barclays upped their price target on shares of Tenable from $45.00 to $48.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th. Jefferies Financial Group upped their price target on shares of Tenable from $40.00 to $45.00 and gave the company a “hold” rating in a research note on Thursday, December 19th. Stifel Nicolaus lowered shares of Tenable from a “buy” rating to a “hold” rating and decreased their price target for the company from $46.00 to $45.00 in a research note on Friday, January 17th. Needham & Company LLC reiterated a “buy” rating and issued a $50.00 price target on shares of Tenable in a research note on Thursday, February 6th. Finally, Scotiabank upped their price target on shares of Tenable from $44.00 to $45.00 and gave the company a “sector perform” rating in a research note on Tuesday, January 21st. Seven analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Tenable has an average rating of “Moderate Buy” and a consensus target price of $49.20.

Tenable Stock Performance

Shares of Tenable stock opened at $36.25 on Friday. The company has a 50 day moving average of $39.57 and a 200-day moving average of $40.45. Tenable Holdings, Inc. has a 1-year low of $35.25 and a 1-year high of $50.30. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.88. The company has a market cap of $4.36 billion, a PE ratio of -120.83 and a beta of 0.87.

Tenable (NASDAQ:TENB) last issued its quarterly earnings results 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 return on equity of 2.07% and a negative net margin of 4.03%. As a group, equities research analysts forecast that Tenable Holdings, Inc. will post 0.12 earnings per share for the current fiscal year.

Insider Transactions at Tenable

In related news, Director Linda Kay Zecher sold 2,500 shares of the stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $37.00, for a total value of $92,500.00. Following the completion of the transaction, the director now owns 353 shares of the company’s stock, valued at $13,061. This represents a 87.63 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Stephen A. Vintz sold 6,681 shares of the stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $38.16, for a total transaction of $254,946.96. Following the completion of the transaction, the chief executive officer now directly owns 316,523 shares of the company’s stock, valued at approximately $12,078,517.68. The trade was a 2.07 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 14,937 shares of company stock valued at $570,418. Company insiders own 4.30% of the company’s stock.

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.