Fidelity Management & Research Co.. recently announced the acquisition of new stake in Tenable Holdings Inc. (NASDAQ:TENB). The institutional investor has increased its shareholding in the Technology company by 169.49% to 6.75 million shares with purchase of 4.24 million shares. This fresh investment now brings its stake to 6.66% valued currently at $228.97 million. In addition, The Vanguard Group, Inc. raised its holdings by 1.28 million to 4.95 million shares. And Mackenzie Financial Corp. has lifted its position by 3.02% or 0.13 million shares – to 4.42 million shares.
With over 1.97 million Tenable Holdings Inc. (TENB) shares trading Tuesday and a closing price of $39.91 on the day, the dollar volume was approximately $78.54 million. The shares have shown a positive weekly performance of 12.45% and its price on 09/01/20 gained nearly 6.03%. Currently, there are 100.21M common shares owned by the public and among those 86.21M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 12 analysts who have offered their price forecasts for TENB have a consensus price objective of $37.82. The analysts have set the share’s price value over the next 12 months at a high of $45.00 and a low of $31.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Tenable Holdings Inc. stock is 1.70 for the next 12 months. The average price target is -5.58% below its last price level and a downside to the estimated low will see the stock lose -28.74% over that period. But an upside of 11.31% will see the stock hit the forecast high price target while mean target price for the stock is $38.00.
Insiders at the company have transacted a total of 275 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 50 of these insider trades were purchases, accounting for 645,986 shares. Insider sales of the common stock occurred on 225 occasions, with total insider shares sold totaling 22,649,138 shares.
The top 3 mutual fund holders in Tenable Holdings Inc. are Mackenzie US Mid Cap Growth Class, Vanguard Total Stock Market Index, and Vanguard Small Cap Index Fund. Mackenzie US Mid Cap Growth Class owns 3.45 million shares of the company’s stock, all valued at over $117.15 million. Vanguard Total Stock Market Index bought 0.28 million shares to see its total holdings expand to 1.87 million shares valued at over $63.39 million and representing 1.85% of the shares outstanding. Vanguard Small Cap Index Fund bought 0.26 million shares to bring its total holdings to over 1.63 million shares at a value of $55.37 million. Vanguard Small Cap Index Fund now owns shares totaling to 1.61% of the shares outstanding.
Shares of Tenable Holdings Inc. (NASDAQ: TENB) opened at $37.99, up $0.35 from a prior closing price of $37.64. However, the script later closed the day at $39.91, up 6.03%. The company’s stock has a 5-day price change of 12.45% and 31.37% over the past three months. TENB shares are trading 66.57% year to date (YTD), with the 12-month market performance up to 75.20% higher. It has a 12-month low price of $16.28 and touched a high of $38.01 over the same period. Currently, 1.97 million shares have been traded, compared to an average intraday trading volume of 1.21 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 15.59%, 23.67%, and 46.15% respectively.
Institutional ownership of Tenable Holdings Inc. (NASDAQ: TENB) shares accounts for 87.80% of the company’s 100.21M shares outstanding. Mutual fund holders own 24.93%, while other institutional holders and individual stakeholders account for 29.41% and 22.48% respectively.
It has a market capitalization of $3.91B. The earnings-per-share (ttm) stands at -$0.93. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.41% over the week and 3.86% over the month.
Analysts forecast that Tenable Holdings Inc. (TENB) will achieve an EPS of $0.03 for the current quarter, $0.03 for the next quarter and $0.13 for 2021. The lowest estimate earnings-per-share for the quarter is $0.02 while analysts give the company a high EPS estimate of $0.05. Comparatively, EPS for the current quarter was -$0.07 a year ago. Earnings per share for the fiscal year are expected to decrease by -32.40%, and 469.57% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 12 brokerage firm advisors rate Tenable Holdings Inc. (TENB) as a “Strong Buy” at a consensus score of 1.70. Specifically, 10 Wall Street analysts polled rate the stock as a buy, while 2 of the 12 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the TENB, a number of firms have released research notes about the stock. SunTrust stated their Buy rating for the stock in a research note on July 29, 2020, with the firm’s price target at $25-$40. Monness Crespi & Hardt coverage for the Tenable Holdings Inc. (TENB) stock in a research note released on April 15, 2020 offered a Buy rating with a price target of $30. Goldman was of a view on March 25, 2020 that the stock is Buy, while JP Morgan gave the stock Overweight rating on October 30, 2019, issuing a price target of $40- $31. SunTrust on their part issued Hold rating on October 03, 2019.