Red Spruce Capital LLC Makes New Investment in Tenable Holdings Inc (NASDAQ:TENB)

Red Spruce Capital LLC bought a new position in shares of Tenable Holdings Inc (NASDAQ:TENB) in the fourth quarter, HoldingsChannel.com reports. The firm bought 21,400 shares of the company’s stock, valued at approximately $513,000.

Other institutional investors also recently bought and sold shares of the company. Tower Research Capital LLC TRC acquired a new position in shares of Tenable during the second quarter worth $31,000. Bank of Montreal Can increased its position in shares of Tenable by 1,850.0% in the 2nd quarter. Bank of Montreal Can now owns 4,329 shares of the company’s stock valued at $124,000 after acquiring an additional 4,107 shares during the period. Amundi Pioneer Asset Management Inc. acquired a new position in shares of Tenable in the 1st quarter valued at $244,000. Diversified Trust Co acquired a new position in shares of Tenable in the 3rd quarter valued at $205,000. Finally, Metropolitan Life Insurance Co NY increased its position in shares of Tenable by 27.4% in the 3rd quarter. Metropolitan Life Insurance Co NY now owns 12,072 shares of the company’s stock valued at $270,000 after acquiring an additional 2,600 shares during the period. Institutional investors own 60.08% of the company’s stock.

Shares of Tenable stock opened at $26.27 on Thursday. The firm has a market capitalization of $2.58 billion, a PE ratio of -19.32 and a beta of 2.62. Tenable Holdings Inc has a twelve month low of $20.77 and a twelve month high of $36.26. The firm’s 50-day moving average price is $24.93 and its 200 day moving average price is $24.97. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.31.

Tenable (NASDAQ:TENB) last issued its quarterly earnings results on Tuesday, October 29th. The company reported ($0.07) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.24) by $0.17. The firm had revenue of $91.90 million for the quarter, compared to analyst estimates of $88.79 million. Tenable had a negative net margin of 24.14% and a negative return on equity of 64.46%. Tenable’s quarterly revenue was up 32.4% compared to the same quarter last year. During the same period last year, the company posted ($0.14) EPS. On average, sell-side analysts predict that Tenable Holdings Inc will post -0.92 EPS for the current fiscal year.

In other Tenable news, Director John C. Huffard, Jr. sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $25.48, for a total value of $1,274,000.00. Also, Director John C. Huffard, Jr. sold 15,350 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $26.54, for a total transaction of $407,389.00. Following the completion of the transaction, the director now directly owns 2,173 shares in the company, valued at $57,671.42. The disclosure for this sale can be found here. Insiders sold a total of 105,073 shares of company stock worth $2,788,440 over the last ninety days. 31.90% of the stock is currently owned by corporate insiders.

Several equities analysts recently issued reports on the company. Zacks Investment Research downgraded Tenable from a “hold” rating to a “strong sell” rating in a research report on Wednesday, January 1st. JPMorgan Chase & Co. raised Tenable from a “neutral” rating to an “overweight” rating and set a $31.00 target price on the stock in a research report on Wednesday, October 30th. SunTrust Banks initiated coverage on Tenable in a research report on Wednesday, October 2nd. They set a “hold” rating and a $25.00 price target on the stock. Finally, ValuEngine raised shares of Tenable from a “hold” rating to a “buy” rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $34.00.

About Tenable

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.

Recommended Story: What is meant by a buy rating?

Want to see what other hedge funds are holding TENB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tenable Holdings Inc (NASDAQ:TENB).

Institutional Ownership by Quarter for Tenable (NASDAQ:TENB)

Receive News & Ratings for Tenable Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tenable and related companies with MarketBeat.com's FREE daily email newsletter.