Tenable’s (TENB) “Buy” Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Tenable (NASDAQ:TENB) in a report released on Monday morning,Benzinga reports. They currently have a $50.00 target price on the stock.

A number of other research analysts also recently issued reports on the company. Jefferies Financial Group upped their price objective on Tenable from $40.00 to $45.00 and gave the company a “hold” rating in a research note on Thursday, December 19th. Morgan Stanley reaffirmed an “equal weight” rating and set a $47.00 price objective (down from $50.00) on shares of Tenable in a report on Monday, December 2nd. Westpark Capital reissued a “hold” rating on shares of Tenable in a report on Thursday, October 31st. Piper Sandler reduced their price target on Tenable from $55.00 to $50.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. Finally, Robert W. Baird decreased their target price on shares of Tenable from $53.00 to $50.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Six investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $50.63.

Tenable Stock Down 0.2 %

Shares of NASDAQ:TENB opened at $38.89 on Monday. The stock has a market cap of $4.67 billion, a price-to-earnings ratio of -76.25 and a beta of 0.85. The business’s 50 day moving average is $41.22 and its 200 day moving average is $41.52. Tenable has a 12-month low of $35.25 and a 12-month 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.

Insiders Place Their Bets

In other 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 transaction, the chief executive officer now owns 45,171 shares in the company, valued at approximately $1,839,363.12. This trade represents a 9.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Stephen A. Vintz sold 2,801 shares of Tenable stock in a transaction on Tuesday, November 19th. The stock was 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 approximately $11,464,145.92. The trade was a 0.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,654 shares of company stock valued at $862,879 over the last three months. Insiders own 4.30% of the company’s stock.

Hedge Funds Weigh In On Tenable

A number of hedge funds have recently modified their holdings of TENB. Fulton Bank N.A. boosted its holdings in shares of Tenable by 12.3% during the fourth quarter. Fulton Bank N.A. now owns 9,209 shares of the company’s stock worth $363,000 after purchasing an additional 1,007 shares during the period. Nordea Investment Management AB grew its position in shares of Tenable by 10.4% in the 4th quarter. Nordea Investment Management AB now owns 267,519 shares of the company’s stock worth $10,489,000 after buying an additional 25,247 shares during the last quarter. Franklin Resources Inc. increased its stake in shares of Tenable by 7.3% during the third quarter. Franklin Resources Inc. now owns 448,586 shares of the company’s stock valued at $18,984,000 after buying an additional 30,530 shares during the period. Tidal Investments LLC increased its stake in shares of Tenable by 19.4% during the third quarter. Tidal Investments LLC now owns 31,518 shares of the company’s stock valued at $1,277,000 after buying an additional 5,116 shares during the period. Finally, Virtu Financial LLC bought a new position in shares of Tenable during the third quarter valued at approximately $282,000. 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.