Trexquant Investment LP Makes New $11.17 Million Investment in Tenable Holdings, Inc. (NASDAQ:TENB)

Trexquant Investment LP purchased a new stake in shares of Tenable Holdings, Inc. (NASDAQ:TENB) during the fourth quarter, Holdings Channel.com reports. The firm purchased 283,635 shares of the company’s stock, valued at approximately $11,170,000.

Several other hedge funds have also made changes to their positions in TENB. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Tenable by 858.2% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 642 shares of the company’s stock valued at $25,000 after purchasing an additional 575 shares during the period. SBI Securities Co. Ltd. acquired a new position in Tenable during the fourth quarter valued at $38,000. Larson Financial Group LLC lifted its stake in Tenable by 89.9% in the 4th quarter. Larson Financial Group LLC now owns 1,426 shares of the company’s stock worth $56,000 after acquiring an additional 675 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in Tenable by 74.1% during the 4th quarter. Nisa Investment Advisors LLC now owns 2,753 shares of the company’s stock worth $108,000 after acquiring an additional 1,172 shares during the period. Finally, Pacer Advisors Inc. grew its stake in Tenable by 30.3% during the 4th quarter. Pacer Advisors Inc. now owns 2,823 shares of the company’s stock valued at $111,000 after acquiring an additional 657 shares in the last quarter. Hedge funds and other institutional investors own 89.06% of the company’s stock.

Insiders Place Their Bets

In other news, Director Raymond Jr. Vicks sold 809 shares of the firm’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $38.52, for a total value of $31,162.68. Following the sale, the director now owns 8,659 shares in the company, valued at approximately $333,544.68. This trade represents a 8.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Linda Kay Zecher sold 2,500 shares of the company’s stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $37.00, for a total transaction of $92,500.00. Following the transaction, the director now owns 353 shares of the company’s stock, valued at approximately $13,061. The trade was a 87.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 14,937 shares of company stock valued at $570,418 in the last three months. Company insiders own 4.30% of the company’s stock.

Tenable Price Performance

NASDAQ TENB opened at $35.16 on Thursday. Tenable Holdings, Inc. has a 1 year low of $33.84 and a 1 year high of $50.07. The company has a fifty day simple moving average of $38.77 and a 200 day simple moving average of $40.24. 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 $4.23 billion, a P/E ratio of -117.20 and a beta of 0.87.

Tenable (NASDAQ:TENB) last released its quarterly earnings results on Wednesday, February 5th. The company reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.26). Tenable had a negative net margin of 4.03% and a negative return on equity of 2.07%. On average, sell-side analysts predict that Tenable Holdings, Inc. will post 0.12 EPS for the current year.

Analyst Upgrades and Downgrades

TENB has been the subject of a number of research analyst reports. Stifel Nicolaus lowered shares of Tenable from a “buy” rating to a “hold” rating and reduced their price target for the stock from $46.00 to $45.00 in a research report on Friday, January 17th. Barclays lifted their target price 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. Cantor Fitzgerald started coverage on shares of Tenable in a research note on Monday. They issued an “overweight” rating and a $50.00 price target on the stock. Stephens began coverage on Tenable in a research report on Tuesday. They set an “equal weight” rating and a $42.00 price objective for the company. Finally, Morgan Stanley assumed coverage on Tenable in a research report on Tuesday, March 18th. They issued an “equal weight” rating and a $40.00 target price on the stock. Seven research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $47.76.

About Tenable

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.