Tenable Holdings Inc (NASDAQ:TENB) saw a large decline in short interest in the month of July. As of July 31st, there was short interest totalling 1,770,300 shares, a decline of 8.6% from the June 30th total of 1,936,400 shares. Approximately 7.3% of the shares of the company are sold short. Based on an average daily volume of 748,600 shares, the short-interest ratio is presently 2.4 days.
In related news, Director John C. Huffard, Jr. sold 10,700 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $24.95, for a total value of $266,965.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Jerry M. Kennelly sold 16,000 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $22.96, for a total value of $367,360.00. The disclosure for this sale can be found here. Insiders have sold a total of 153,468 shares of company stock worth $4,297,105 over the last quarter. Company insiders own 31.90% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Rhumbline Advisers boosted its stake in Tenable by 126.5% in the first quarter. Rhumbline Advisers now owns 38,230 shares of the company’s stock worth $1,210,000 after buying an additional 21,354 shares in the last quarter. BNP Paribas Arbitrage SA boosted its stake in Tenable by 4,624.1% in the first quarter. BNP Paribas Arbitrage SA now owns 6,472 shares of the company’s stock worth $205,000 after buying an additional 6,335 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Tenable by 17.8% in the fourth quarter. Bank of New York Mellon Corp now owns 36,336 shares of the company’s stock worth $806,000 after buying an additional 5,497 shares in the last quarter. Millennium Management LLC purchased a new stake in Tenable in the fourth quarter worth approximately $1,996,000. Finally, Quantitative Systematic Strategies LLC purchased a new stake in Tenable in the first quarter worth approximately $226,000. Hedge funds and other institutional investors own 55.22% of the company’s stock.
Shares of TENB traded down $0.44 during midday trading on Thursday, hitting $21.40. 359,200 shares of the company traded hands, compared to its average volume of 735,319. The stock has a 50-day moving average of $27.80 and a 200-day moving average of $29.32. Tenable has a one year low of $20.00 and a one year high of $39.38. The firm has a market cap of $2.12 billion and a P/E ratio of -15.74. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.60 and a quick ratio of 1.60.
Tenable (NASDAQ:TENB) last announced its quarterly earnings results on Tuesday, July 30th. The company reported ($0.10) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.27) by $0.17. Tenable had a negative return on equity of 64.96% and a negative net margin of 26.92%. The firm had revenue of $85.38 million for the quarter, compared to analysts’ expectations of $82.73 million. During the same period in the prior year, the business posted ($0.18) earnings per share. The company’s revenue was up 34.3% on a year-over-year basis. Sell-side analysts forecast that Tenable will post -0.95 EPS for the current fiscal year.
A number of brokerages recently issued reports on TENB. Wedbush restated a “buy” rating and issued a $44.00 price objective on shares of Tenable in a research note on Wednesday, July 31st. Cowen began coverage on Tenable in a research note on Thursday, May 23rd. They issued an “outperform” rating and a $36.00 price objective on the stock. Nomura set a $29.00 price objective on Tenable and gave the company a “hold” rating in a research note on Wednesday, July 31st. Zacks Investment Research upgraded Tenable from a “hold” rating to a “buy” rating and set a $35.00 price objective on the stock in a research note on Saturday, May 4th. Finally, Macquarie began coverage on Tenable in a research note on Tuesday, July 16th. They issued a “neutral” rating and a $35.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $36.45.
Tenable Company Profile
Tenable Holdings, Inc provides cybersecurity solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company enterprise software platform enables visibility into an organization's cyber exposure across the attack surface and deep insights that help organizations translate vulnerability data into business insights to understand and reduce their cybersecurity risk.
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