Tenable (NASDAQ:TENB) Shares Up 5.6% – Time to Buy?

Tenable Holdings, Inc. (NASDAQ:TENB) shot up 5.6% during trading on Thursday . The company traded as high as $42.85 and last traded at $42.78. 528,459 shares were traded during trading, a decline of 35% from the average session volume of 808,137 shares. The stock had previously closed at $40.52.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Stifel Nicolaus lowered Tenable from a “buy” rating to a “hold” rating and cut their target price for the company from $46.00 to $45.00 in a research report on Friday. Robert W. Baird cut their target price on Tenable from $53.00 to $50.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Needham & Company LLC reissued a “buy” rating and issued a $50.00 price objective on shares of Tenable in a report on Monday, January 6th. Westpark Capital restated a “hold” rating on shares of Tenable in a research report on Thursday, October 31st. Finally, Jefferies Financial Group upped their price objective on Tenable from $40.00 to $45.00 and gave the company a “hold” rating in a report on Thursday, December 19th. Seven research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $50.19.

Tenable Stock Performance

The stock has a 50-day moving average of $41.11 and a 200 day moving average of $41.41. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.28 and a current ratio of 1.28. The firm has a market capitalization of $4.91 billion, a P/E ratio of -80.06 and a beta of 0.85.

Insider Activity at Tenable

In related news, Director Raymond Jr. Vicks sold 809 shares of Tenable stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $38.52, for a total value of $31,162.68. Following the completion of the sale, the director now directly owns 8,659 shares in the company, valued at $333,544.68. This trade represents a 8.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Stephen A. Vintz sold 2,801 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $40.72, for a total transaction of $114,056.72. Following the completion of the transaction, the chief financial officer now directly owns 281,536 shares in the company, valued at $11,464,145.92. This trade represents a 0.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 21,463 shares of company stock valued at $894,042 over the last ninety days. 4.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of TENB. Quest Partners LLC acquired a new position in shares of Tenable in the 2nd quarter valued at $40,000. Dimensional Fund Advisors LP lifted its holdings in shares of Tenable by 1.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 68,192 shares of the company’s stock valued at $2,972,000 after purchasing an additional 858 shares in the last quarter. Renaissance Technologies LLC acquired a new position in shares of Tenable in the 2nd quarter valued at approximately $7,740,000. Hsbc Holdings PLC increased its stake in Tenable by 43.0% during the 2nd quarter. Hsbc Holdings PLC now owns 24,127 shares of the company’s stock worth $1,045,000 after purchasing an additional 7,254 shares in the last quarter. Finally, Seven Eight Capital LP acquired a new stake in Tenable during the 2nd quarter worth approximately $672,000. Institutional investors and hedge funds own 89.06% of the company’s stock.

Tenable Company Profile

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.