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

Connor Clark & Lunn Investment Management Ltd. lessened its stake in Tenable Holdings, Inc. (NASDAQ:TENB) by 90.0% in the third quarter, HoldingsChannel reports. The fund 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.

Other institutional investors also recently bought and sold shares of the company. Covestor Ltd lifted its position in Tenable by 84.5% in the third quarter. Covestor Ltd now owns 631 shares of the company’s stock valued at $26,000 after purchasing an additional 289 shares during the last quarter. Quest Partners LLC purchased a new position in shares of Tenable in the second quarter worth $40,000. Susquehanna Fundamental Investments LLC bought a new stake in Tenable during the 2nd quarter valued at $200,000. Olympiad Research LP boosted its position in Tenable by 11.1% during the 3rd quarter. Olympiad Research LP now owns 5,287 shares of the company’s stock valued at $214,000 after buying an additional 528 shares during the period. Finally, DRW Securities LLC bought a new stake in Tenable in the 2nd quarter worth $222,000. 89.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Tenable

In other news, CFO Stephen A. Vintz sold 3,180 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $42.74, for a total value of $135,913.20. Following the transaction, the chief financial officer now owns 285,045 shares in the company, valued at approximately $12,182,823.30. This represents a 1.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Amit Yoran sold 5,293 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $42.74, for a total transaction of $226,222.82. Following the sale, the chief executive officer now directly owns 51,691 shares of the company’s stock, valued at $2,209,273.34. This trade represents a 9.29 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 20,654 shares of company stock valued at $862,879. Insiders own 4.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Susquehanna dropped their target price on shares of Tenable from $60.00 to $48.00 and set a “positive” rating for the company in a report on Thursday, August 1st. Wells Fargo & Company reduced their target price on Tenable from $60.00 to $50.00 and set an “overweight” rating on the stock in a research note on Thursday, August 1st. Westpark Capital reaffirmed a “hold” rating on shares of Tenable in a research note on Thursday, October 31st. Piper Sandler reduced their price objective on shares of Tenable from $55.00 to $50.00 and set an “overweight” rating on the stock in a research report on Thursday, October 31st. Finally, Jefferies Financial Group started coverage on shares of Tenable in a research report on Wednesday, October 16th. They issued a “hold” rating and a $45.00 target price for the company. Five analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $50.81.

Tenable Stock Performance

Tenable stock opened at $41.88 on Friday. The stock’s 50 day moving average is $41.17 and its 200 day moving average is $41.69. The company has a market capitalization of $5.03 billion, a P/E ratio of -82.12 and a beta of 0.83. Tenable Holdings, Inc. has a twelve month low of $35.25 and a twelve month high of $53.50. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.88.

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 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.