Tenable (NASDAQ:TENB) Price Target Cut to $40.00 by Analysts at Barclays

Tenable (NASDAQ:TENB) had its price objective trimmed by Barclays from $48.00 to $40.00 in a report issued on Monday,Benzinga reports. The firm currently has an equal weight rating on the stock.

Several other equities analysts also recently commented on TENB. Cantor Fitzgerald started coverage on shares of Tenable in a research note on Monday, March 31st. They issued an “overweight” rating and a $50.00 price target on the stock. Morgan Stanley started coverage on shares of Tenable in a report on Tuesday, March 18th. They set an “equal weight” rating and a $40.00 target price on the stock. Truist Financial dropped their price target on shares of Tenable from $48.00 to $45.00 and set a “buy” rating for the company in a research report on Monday, March 31st. Stephens initiated coverage on Tenable in a research report on Tuesday, April 1st. They set an “equal weight” rating and a $42.00 price target on the stock. Finally, Jefferies Financial Group cut their target price on Tenable from $45.00 to $37.00 and set a “hold” rating for the company in a research report on Monday, March 31st. Seven equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $46.71.

Tenable Trading Down 3.0 %

Shares of NASDAQ:TENB opened at $31.97 on Monday. Tenable has a 12-month low of $30.50 and a 12-month high of $49.18. The business has a 50 day moving average of $36.30 and a 200-day moving average of $39.63. 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 stock has a market cap of $3.84 billion, a PE ratio of -106.57 and a beta of 0.88.

Tenable (NASDAQ:TENB) last released its quarterly earnings results on Wednesday, February 5th. The company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.26). Tenable had a negative return on equity of 2.07% and a negative net margin of 4.03%. As a group, equities research analysts forecast that Tenable will post 0.12 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Stephen A. Vintz sold 6,681 shares of the business’s stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $38.16, for a total transaction of $254,946.96. Following the sale, the chief executive officer now owns 316,523 shares in the company, valued at $12,078,517.68. The trade was a 2.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Linda Kay Zecher sold 2,500 shares of the stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $37.00, for a total value of $92,500.00. Following the completion of the transaction, the director now owns 353 shares of the company’s stock, valued at $13,061. This represents a 87.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 14,128 shares of company stock worth $539,256 in the last three months. 4.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. FMR LLC grew its holdings in Tenable by 2.0% during the 4th quarter. FMR LLC now owns 15,515,164 shares of the company’s stock worth $610,987,000 after acquiring an additional 304,237 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Tenable by 5.3% during the fourth quarter. Vanguard Group Inc. now owns 13,947,023 shares of the company’s stock worth $549,234,000 after purchasing an additional 708,249 shares during the period. State Street Corp grew its stake in shares of Tenable by 2.6% in the third quarter. State Street Corp now owns 2,913,580 shares of the company’s stock worth $118,058,000 after purchasing an additional 73,293 shares during the last quarter. Geode Capital Management LLC increased its holdings in Tenable by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 2,803,231 shares of the company’s stock valued at $110,416,000 after purchasing an additional 8,746 shares during the period. Finally, First Trust Advisors LP raised its position in Tenable by 6.2% during the 4th quarter. First Trust Advisors LP now owns 2,332,650 shares of the company’s stock worth $91,860,000 after purchasing an additional 137,150 shares during the last quarter. Institutional investors and hedge funds own 89.06% of the company’s stock.

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.