Tenable Holdings, Inc. (NASDAQ:TENB) was the recipient of a large growth in short interest in the month of April. As of April 15th, there was short interest totalling 2,560,000 shares, a growth of 26.1% from the March 31st total of 2,030,000 shares. Approximately 2.8% of the shares of the stock are short sold. Based on an average trading volume of 1,210,000 shares, the short-interest ratio is currently 2.1 days.
In related news, Director Ping Li sold 75,000 shares of Tenable stock in a transaction dated Friday, April 30th. The stock was sold at an average price of $38.06, for a total value of $2,854,500.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, General Counsel Stephen A. Riddick sold 2,420 shares of Tenable stock in a transaction dated Monday, May 3rd. The stock was sold at an average price of $37.73, for a total value of $91,306.60. The disclosure for this sale can be found here. Insiders have sold a total of 373,568 shares of company stock worth $15,843,222 over the last 90 days. Insiders own 16.40% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. FMR LLC raised its position in Tenable by 336.7% in the first quarter. FMR LLC now owns 678,769 shares of the company’s stock valued at $21,489,000 after purchasing an additional 523,335 shares during the period. Amundi Pioneer Asset Management Inc. purchased a new stake in Tenable in the first quarter valued at approximately $244,000. Sei Investments Co. purchased a new stake in Tenable in the third quarter valued at approximately $2,425,000. James Hambro & Partners purchased a new stake in Tenable in the fourth quarter valued at approximately $260,000. Finally, Liberty One Investment Management LLC raised its position in Tenable by 0.8% in the fourth quarter. Liberty One Investment Management LLC now owns 21,653 shares of the company’s stock valued at $1,132,000 after purchasing an additional 181 shares during the period. 80.96% of the stock is currently owned by hedge funds and other institutional investors.
Tenable (NASDAQ:TENB) last released its quarterly earnings results on Tuesday, April 27th. The company reported $0.13 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.07. The firm had revenue of $123.20 million for the quarter, compared to analyst estimates of $119.72 million. Tenable had a negative net margin of 18.87% and a negative return on equity of 56.02%. The business’s revenue for the quarter was up 19.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.09) EPS. On average, sell-side analysts forecast that Tenable will post -0.47 EPS for the current fiscal year.
Several equities research analysts recently issued reports on the company. Canaccord Genuity lifted their price objective on Tenable from $57.00 to $58.00 and gave the stock a “buy” rating in a report on Tuesday. The Goldman Sachs Group lifted their price objective on Tenable from $41.00 to $57.00 and gave the stock a “buy” rating in a report on Friday, January 8th. Truist lifted their price objective on Tenable from $43.00 to $65.00 in a report on Wednesday, January 27th. Barclays assumed coverage on Tenable in a report on Monday, March 1st. They issued an “overweight” rating and a $54.00 price objective on the stock. Finally, Berenberg Bank lowered shares of Tenable from a “buy” rating to a “hold” rating and raised their target price for the stock from $43.00 to $51.00 in a research note on Monday, February 8th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have given a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $52.29.
Tenable Company Profile
Tenable Holdings, Inc provides cyber exposure solutions for in the Americas, Europe, the Middle East, Africa, the Asia Pacific, and Japan. The company's platforms include Tenable.io, a cloud-delivered software as a service; and Tenable.sc, an on-premises solution. Its platforms provides organizations with a risk-based view of traditional and modern attack surfaces to deliver a complete and continuous view of assets, associated vulnerabilities, internal and regulatory compliance violations, misconfigurations, and other cybersecurity issues, as well as prioritizes these issues for remediation based on risk assessment and predictive analytics, and provides insightful remediation guidance.
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