Capital Investment Counsel Inc Trims Stake in Tenable Holdings, Inc. (NASDAQ:TENB)

Capital Investment Counsel Inc reduced its position in shares of Tenable Holdings, Inc. (NASDAQ:TENB) by 11.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,949 shares of the company’s stock after selling 790 shares during the period. Capital Investment Counsel Inc’s holdings in Tenable were worth $234,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in TENB. Creative Planning grew its position in shares of Tenable by 24.6% during the 3rd quarter. Creative Planning now owns 11,888 shares of the company’s stock valued at $482,000 after purchasing an additional 2,347 shares in the last quarter. Vanderbilt University grew its position in shares of Tenable by 7.2% during the 3rd quarter. Vanderbilt University now owns 138,849 shares of the company’s stock valued at $5,626,000 after purchasing an additional 9,273 shares in the last quarter. Pinnacle Associates Ltd. grew its position in shares of Tenable by 1.0% during the 3rd quarter. Pinnacle Associates Ltd. now owns 294,080 shares of the company’s stock valued at $11,916,000 after purchasing an additional 3,004 shares in the last quarter. Janney Capital Management LLC grew its position in shares of Tenable by 34.0% during the 3rd quarter. Janney Capital Management LLC now owns 7,551 shares of the company’s stock valued at $306,000 after purchasing an additional 1,914 shares in the last quarter. Finally, Harbor Capital Advisors Inc. grew its position in shares of Tenable by 51.0% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 46,757 shares of the company’s stock valued at $1,895,000 after purchasing an additional 15,794 shares in the last quarter. 89.06% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Tenable news, CEO Mark C. Thurmond sold 1,341 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $39.56, for a total transaction of $53,049.96. Following the completion of the transaction, the chief executive officer now owns 41,266 shares of the company’s stock, valued at approximately $1,632,482.96. This trade represents a 3.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Raymond Jr. Vicks sold 809 shares of the firm’s stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $38.52, for a total transaction of $31,162.68. Following the transaction, the director now directly owns 8,659 shares of the company’s stock, valued at $333,544.68. This represents a 8.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 12,966 shares of company stock worth $546,488 over the last three months. Company insiders own 4.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on TENB shares. Piper Sandler cut their target price on shares of Tenable from $55.00 to $50.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. Scotiabank upped their target price on shares of Tenable from $44.00 to $45.00 and gave the stock a “sector perform” rating in a research report on Tuesday, January 21st. Morgan Stanley reiterated an “equal weight” rating and issued a $47.00 target price (down from $50.00) on shares of Tenable in a research report on Monday, December 2nd. Jefferies Financial Group upped their target price on shares of Tenable from $40.00 to $45.00 and gave the stock a “hold” rating in a research report on Thursday, December 19th. Finally, Westpark Capital reiterated a “hold” rating on shares of Tenable in a research report on Thursday, October 31st. Seven analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Tenable has a consensus rating of “Moderate Buy” and an average price target of $49.67.

Tenable Stock Performance

Tenable stock opened at $38.37 on Friday. 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 firm has a 50-day moving average of $40.74 and a 200-day moving average of $41.04. The firm has a market cap of $4.61 billion, a P/E ratio of -127.90 and a beta of 0.87. Tenable Holdings, Inc. has a 1-year low of $35.25 and a 1-year high of $50.30.

Tenable (NASDAQ:TENB) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.26). Tenable had a negative return on equity of 2.07% and a negative net margin of 4.03%. Sell-side analysts expect that Tenable Holdings, Inc. will post 0.12 EPS for the current year.

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.