Tenable’s (TENB) Equal Weight Rating Reiterated at Morgan Stanley

Morgan Stanley restated their equal weight rating on shares of Tenable (NASDAQ:TENB) in a research note released on Monday, MarketBeat reports. They currently have a $47.00 price target on the stock, down from their previous price target of $50.00.

A number of other analysts have also issued reports on the company. Robert W. Baird lowered their price target on Tenable from $53.00 to $50.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Jefferies Financial Group assumed coverage on shares of Tenable in a research note on Wednesday, October 16th. They set a “hold” rating and a $45.00 target price on the stock. Barclays reduced their target price on shares of Tenable from $49.00 to $45.00 and set an “equal weight” rating for the company in a research report on Thursday, October 31st. Piper Sandler lowered their price target 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, Needham & Company LLC reaffirmed a “buy” rating and set a $50.00 price objective on shares of Tenable in a research note on Tuesday, October 29th. Six investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $50.63.

Tenable Stock Up 0.7 %

TENB stock opened at $42.73 on Monday. Tenable has a 52 week low of $35.25 and a 52 week 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. The firm has a 50-day simple moving average of $41.39 and a 200-day simple moving average of $41.61. The stock has a market capitalization of $5.13 billion, a P/E ratio of -83.78 and a beta of 0.83.

Insider Activity at Tenable

In other Tenable news, CEO Amit Yoran sold 4,828 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $40.72, for a total value of $196,596.16. Following the completion of the transaction, the chief executive officer now owns 45,171 shares of the company’s stock, valued at $1,839,363.12. This trade represents a 9.66 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Stephen A. Vintz sold 3,180 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $42.74, for a total transaction of $135,913.20. Following the completion of the transaction, the chief financial officer now owns 285,045 shares of the company’s stock, valued at approximately $12,182,823.30. This trade represents a 1.10 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 20,654 shares of company stock worth $862,879. Insiders own 4.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Franklin Resources Inc. lifted its holdings in Tenable by 7.3% during the 3rd quarter. Franklin Resources Inc. now owns 448,586 shares of the company’s stock worth $18,984,000 after buying an additional 30,530 shares during the last quarter. Tidal Investments LLC raised its position in shares of Tenable by 19.4% during the 3rd quarter. Tidal Investments LLC now owns 31,518 shares of the company’s stock worth $1,277,000 after acquiring an additional 5,116 shares in the last quarter. Virtu Financial LLC purchased a new stake in Tenable during the third quarter worth approximately $282,000. Geode Capital Management LLC boosted its holdings in Tenable by 1.2% in the third quarter. Geode Capital Management LLC now owns 2,794,485 shares of the company’s stock valued at $113,255,000 after purchasing an additional 33,303 shares in the last quarter. Finally, Barclays PLC increased its stake in Tenable by 31.9% in the third quarter. Barclays PLC now owns 731,626 shares of the company’s stock valued at $29,646,000 after purchasing an additional 177,048 shares during the last quarter. Hedge funds and other institutional investors 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.