Should You Sell Tenable Holdings (TENB)?

Aristotle Atlantic Partners, LLC, an investment advisor, released its “Large Cap Growth Strategy” fourth quarter 2023 investor letter. A copy of the same can be downloaded here. In the fourth quarter, Aristotle Atlantic’s Large Cap Growth Strategy delivered 13.61% gross of fees (13.43% net of fees) underperforming the Russell 1000 Growth Index’s return of 14.16%. Both Security selection and allocation effects led the portfolio to underperform in the quarter. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.

Aristotle Atlantic Large Cap Growth Strategy featured stocks like Tenable Holdings, Inc. (NASDAQ:TENB) in the fourth quarter 2023 investor letter. Headquartered in Columbia, Maryland, Tenable Holdings, Inc. (NASDAQ:TENB) offers cyber exposure solutions. On February 29, 2024, Tenable Holdings, Inc. (NASDAQ:TENB) stock closed at $48.16 per share. One-month return of Tenable Holdings, Inc. (NASDAQ:TENB) was 1.24%, and its shares gained 8.03% of their value over the last 52 weeks. Tenable Holdings, Inc. (NASDAQ:TENB) has a market capitalization of $5.659 billion.

Aristotle Atlantic Large Cap Growth Strategy stated the following regarding Tenable Holdings, Inc. (NASDAQ:TENB) in its fourth quarter 2023 investor letter:

“We sold Tenable Holdings, Inc. (NASDAQ:TENB), as we believe the company could see increasing pressure from larger cybersecurity providers with more extensive product platforms and more competitive pricing dynamics.”

A tech expert at their workplace, immersed in scrutinizing a Cyber exposure solution.

Tenable Holdings, Inc. (NASDAQ:TENB) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, Tenable Holdings, Inc. (NASDAQ:TENB) was held by 22 hedge fund portfolios, down from 23 in the previous quarter, according to our database.

We discussed Tenable Holdings, Inc. (NASDAQ:TENB) in another article and shared the list of biggest cybersecurity companies in the world. In addition, please check out our hedge fund investor letters Q4 2023 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.