Connor Clark & Lunn Investment Management Ltd. Sells 147,694 Shares of Tenable Holdings, Inc. (NASDAQ:TENB)

Connor Clark & Lunn Investment Management Ltd. cut its holdings in Tenable Holdings, Inc. (NASDAQ:TENB) by 90.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,325 shares of the company’s stock after selling 147,694 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Tenable were worth $661,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Covestor Ltd grew its stake in Tenable by 84.5% in the 3rd quarter. Covestor Ltd now owns 631 shares of the company’s stock valued at $26,000 after purchasing an additional 289 shares during the period. Quest Partners LLC bought a new position in Tenable during the second quarter valued at about $40,000. Susquehanna Fundamental Investments LLC bought a new position in Tenable during the second quarter valued at about $200,000. Olympiad Research LP increased its holdings in Tenable by 11.1% during the third quarter. Olympiad Research LP now owns 5,287 shares of the company’s stock worth $214,000 after buying an additional 528 shares during the last quarter. Finally, DRW Securities LLC bought a new stake in Tenable in the second quarter worth about $222,000. 89.06% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Tenable

In other news, CFO Stephen A. Vintz sold 2,801 shares of the company’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $40.72, for a total value of $114,056.72. Following the completion of the transaction, the chief financial officer now directly owns 281,536 shares in the company, valued at approximately $11,464,145.92. This represents a 0.99 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Amit Yoran sold 4,828 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $40.72, for a total value of $196,596.16. Following the transaction, the chief executive officer now directly owns 45,171 shares in the company, valued at approximately $1,839,363.12. This represents a 9.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 20,654 shares of company stock valued at $862,879. 4.30% of the stock is owned by corporate insiders.

Tenable Price Performance

Shares of NASDAQ TENB opened at $41.88 on Friday. The stock’s 50-day simple moving average is $41.17 and its two-hundred day simple moving average is $41.69. Tenable Holdings, Inc. has a twelve month low of $35.25 and a twelve month high of $53.50. The firm has a market capitalization of $5.03 billion, a P/E ratio of -82.12 and a beta of 0.83. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.88.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Jefferies Financial Group started coverage on shares of Tenable in a research note on Wednesday, October 16th. They set a “hold” rating and a $45.00 price target for the company. Robert W. Baird dropped their price target on Tenable from $53.00 to $50.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. Piper Sandler decreased their price objective on Tenable from $55.00 to $50.00 and set an “overweight” rating for the company in a report on Thursday, October 31st. DA Davidson downgraded shares of Tenable from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $56.00 to $40.00 in a report on Thursday, August 1st. Finally, Susquehanna reduced their target price on shares of Tenable from $60.00 to $48.00 and set a “positive” rating for the company in a research note on Thursday, August 1st. Five investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $50.81.

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.