Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Tenable Holdings Inc. shares valued at $246,843 were sold by Yoran Amit on Feb 28. At $44.15 per share, Yoran Amit sold 5,591 shares. The insider’s holdings dropped to 204,257 shares worth approximately $9.05 million following the completion of this transaction.
From Robots to Self-Driving Cars: 5 AI Stocks to Consider for Your Portfolio
The artificial intelligence (AI) revolution is already here and it's about to change everything we know about everything. With the global market for AI projected to grow from $137 billion in 2022 to over $1.81 trillion by 2030, there's never been a better time to invest in this burgeoning industry. That's why we've compiled a list of the Top 5 AI Stocks to Buy for 2023. These companies are at the forefront of the AI revolution, and have the potential to deliver huge returns to investors like you.
Get our free report, "Top 5 AI Stocks to Buy for 2023".
Sponsored
Also, Vintz Stephen A sold 3,363 shares, netting a total of over 148,476 in proceeds. Following the sale of shares at $44.15 each, the insider now holds 193,724 shares.
Before that, Thurmond Mark C. had sold 2,464 shares from its account. In a trade valued at $108,786, the Chief Operating Officer traded Tenable Holdings Inc. shares for $44.15 each. Upon closing the transaction, the insider’s holdings decreased to 2,464 shares, worth approximately $1.15 million.
As published in their initiating research note from JP Morgan on January 24, 2023, Tenable Holdings Inc. [TENB] has been a Neutral and the price target has been revised to $44. This represents a -0.68% premium over Wednesday’s closing price. Analysts at Morgan Stanley downgraded the stock from ‘”an Overweight”‘ to ‘”an Equal-weight”‘ outlook in a report released in mid January. Earlier on October 10, 2022, BTIG Research downgraded its rating. Their new recommendation was “a Neutral” for TENB stock which previously was a “a Buy”.
Analyzing TENB Stock Performance
On Wednesday, Tenable Holdings Inc. [NASDAQ: TENB] plunged -0.63% to $44.30. The stock’s lowest price that day was $43.50, but it reached a high of $44.94 in the same session. During the last five days, there has been a surge of approximately 0.36%. Over the course of the year, Tenable Holdings Inc. shares have jumped approximately 16.12%. Shares of the company reached a 52-week high of $46.87 on 02/08/23 and a 52-week low of $34.10 on 01/06/23. A 50-day SMA is recorded $41.19, while a 200-day SMA reached $41.14. Nevertheless, trading volume fell to 0.55 million shares from 0.7 million shares the previous day.
Support And Resistance Levels for Tenable Holdings Inc. (TENB)
According to the 24-hour chart, there is a support level at 43.55, which, if violated, would cause prices to drop to 42.81. In the upper region, resistance lies at 44.99. The next price resistance is at 45.69. RSI (Relative Strength Index) is 55.71 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.59, which suggests the price will decrease in the coming days. Percent R is at 36.51%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Tenable Holdings Inc. subject to short interest?
Stocks of Tenable Holdings Inc. saw a sharp rise in short interest on Jan 12, 2023 jumping by 0.78 million shares to 3.75 million. Data from Yahoo Finance shows that the short interest on Dec 14, 2022 was 2.97 million shares. A jump of 20.8% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 4.62 of the overall float, the days-to-cover ratio (short ratio) jumped to 4.62.
Which companies own the most shares of Tenable Holdings Inc. (TENB)?
According to The Vanguard Group, Inc. filings, the company currently owns 11,008,997 shares, which is about 9.79% of the total TENB shares outstanding. The investor’s shares have appreciated by 315,744 from its previous 13-F filing of 10693253.0 shares. With the completion of the sale transaction, Fidelity Management & Research Co’s stake is now worth $340,688,318. BlackRock Fund Advisors acquire a 12.26% interest valued at $308.0 million while Greenvale Capital LLP purchased a 1,347,108 stake. A total of 295,201 shares of Tenable Holdings Inc. were bought by First Trust Advisors LP during the quarter, and 406,847 were bought by RGM Capital LLC. In its current portfolio, Mackenzie Financial Corp. holds 2,786,215 shares valued at $112.09 million.
In terms of Tenable Holdings Inc. share price expectations, FactSet research, analysts set an average price target of $53.08 in the next 12 months, up nearly 16.64% from the previous closing price of $44.58. Analysts anticipate Tenable Holdings Inc. stock to reach $65.00 by 2023, with the lowest price target being $47.00. In spite of this, 16 analysts ranked Tenable Holdings Inc. stock as an Overweight at the end of 2023. On April 12, 2022, DA Davidson assigned a price target of “a Buy” to the stock and initiated coverage with a $75.