William Blair Investment Management LLC Buys 394,264 Shares of Tenable Holdings, Inc. (NASDAQ:TENB)

William Blair Investment Management LLC grew its stake in Tenable Holdings, Inc. (NASDAQ:TENB) by 21.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,217,479 shares of the company’s stock after acquiring an additional 394,264 shares during the quarter. William Blair Investment Management LLC owned 1.92% of Tenable worth $96,571,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. ExodusPoint Capital Management LP boosted its holdings in Tenable by 97.9% in the second quarter. ExodusPoint Capital Management LP now owns 585,913 shares of the company’s stock worth $25,517,000 after acquiring an additional 289,823 shares in the last quarter. MetLife Investment Management LLC raised its stake in shares of Tenable by 2.4% in the second quarter. MetLife Investment Management LLC now owns 60,203 shares of the company’s stock worth $2,622,000 after purchasing an additional 1,438 shares during the last quarter. Bessemer Group Inc. purchased a new position in shares of Tenable in the second quarter worth $315,000. Great West Life Assurance Co. Can raised its stake in shares of Tenable by 9.6% in the second quarter. Great West Life Assurance Co. Can now owns 243,131 shares of the company’s stock worth $10,584,000 after purchasing an additional 21,389 shares during the last quarter. Finally, ProShare Advisors LLC raised its stake in shares of Tenable by 10.9% in the second quarter. ProShare Advisors LLC now owns 15,279 shares of the company’s stock worth $665,000 after purchasing an additional 1,499 shares during the last quarter. 88.13% of the stock is owned by institutional investors.

Insider Transactions at Tenable

In other news, Director Linda Kay Zecher sold 1,444 shares of the company’s stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $37.20, for a total value of $53,716.80. Following the completion of the transaction, the director now owns 2,602 shares of the company’s stock, valued at $96,794.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CEO Amit Yoran sold 20,000 shares of the company’s stock in a transaction dated Wednesday, September 20th. The stock was sold at an average price of $47.64, for a total value of $952,800.00. Following the completion of the transaction, the chief executive officer now owns 270,651 shares of the company’s stock, valued at $12,893,813.64. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Linda Kay Zecher sold 1,444 shares of the company’s stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $37.20, for a total value of $53,716.80. Following the completion of the transaction, the director now directly owns 2,602 shares of the company’s stock, valued at approximately $96,794.40. The disclosure for this sale can be found here. Insiders sold a total of 39,783 shares of company stock valued at $1,761,468 over the last 90 days. Company insiders own 4.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. TD Cowen assumed coverage on Tenable in a research note on Monday, September 18th. They issued an “outperform” rating and a $55.00 price target for the company. Canaccord Genuity Group boosted their price target on Tenable from $60.00 to $63.00 and gave the stock a “buy” rating in a research note on Friday, September 8th. JPMorgan Chase & Co. upgraded Tenable from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $51.00 to $56.00 in a research note on Monday, September 11th. Needham & Company LLC decreased their price target on Tenable from $55.00 to $45.00 and set a “buy” rating for the company in a research note on Thursday, November 2nd. Finally, Barclays reduced their price objective on Tenable from $47.00 to $41.00 and set an “equal weight” rating for the company in a research report on Thursday, November 2nd. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $51.38.

Tenable Stock Performance

Shares of TENB opened at $39.76 on Tuesday. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 1.05. The business has a 50-day simple moving average of $42.52 and a two-hundred day simple moving average of $42.57. The stock has a market cap of $4.65 billion, a price-to-earnings ratio of -58.15 and a beta of 1.15. Tenable Holdings, Inc. has a 52 week low of $33.85 and a 52 week high of $49.77.

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.io, a cloud-delivered software as a service that provides organizations with a risk-based view of traditional and modern attack surfaces; Tenable.cs, a cloud-native cloud security solutions for security teams to continuously assess the security posture; Tenable.io Web Application Scanning, which provides scanning for modern web applications; Tenable Lumin Exposure View, a measurement tool; and Tenable.asm, an external attack surface management solution.