Tenable's (TENB) Hold Rating Reiterated at Westpark Capital

Tenable (NASDAQ:TENB - Get Free Report)'s stock had its "hold" rating reissued by equities researchers at Westpark Capital in a research report issued on Thursday, Benzinga reports.

Several other analysts also recently issued reports on the company. DA Davidson downgraded Tenable from a "buy" rating to a "neutral" rating and reduced their price target for the company from $56.00 to $40.00 in a research note on Thursday, August 1st. Susquehanna dropped their price objective on shares of Tenable from $60.00 to $48.00 and set a "positive" rating for the company in a research note on Thursday, August 1st. Barclays decreased their target price on shares of Tenable from $57.00 to $49.00 and set an "equal weight" rating on the stock in a research report on Thursday, August 1st. Wells Fargo & Company dropped their price target on shares of Tenable from $60.00 to $50.00 and set an "overweight" rating for the company in a research report on Thursday, August 1st. Finally, Jefferies Financial Group assumed coverage on Tenable in a research note on Wednesday, October 16th. They set a "hold" rating and a $45.00 price objective on the stock. Five research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $50.81.

Tenable Stock Performance

TENB stock traded down $1.62 during midday trading on Thursday, reaching $39.61. 2,111,299 shares of the company were exchanged, compared to its average volume of 910,333. The firm has a market capitalization of $4.72 billion, a price-to-earnings ratio of -72.52 and a beta of 0.83. The business has a 50-day moving average price of $40.80 and a two-hundred day moving average price of $42.26. Tenable has a one year low of $33.85 and a one year high of $53.50. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.21 and a quick ratio of 1.21.

Tenable (NASDAQ:TENB - Get Free Report) last released its quarterly earnings results on Wednesday, July 31st. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.03. Tenable had a negative net margin of 7.77% and a negative return on equity of 7.63%. The firm had revenue of $221.24 million for the quarter, compared to analysts' expectations of $218.41 million. Equities research analysts forecast that Tenable will post -0.06 EPS for the current year.

Insider Activity at Tenable

In other Tenable news, CEO Amit Yoran sold 5,673 shares of the firm's stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $41.75, for a total value of $236,847.75. Following the sale, the chief executive officer now owns 39,309 shares in the company, valued at $1,641,150.75. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, COO Mark C. Thurmond sold 3,383 shares of the firm's stock in a transaction on Monday, August 26th. The shares were sold at an average price of $41.66, for a total transaction of $140,935.78. Following the completion of the transaction, the chief operating officer now owns 34,079 shares of the company's stock, valued at approximately $1,419,731.14. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Amit Yoran sold 5,673 shares of the business's stock in a transaction on Monday, August 26th. The stock was sold at an average price of $41.75, for a total transaction of $236,847.75. Following the completion of the sale, the chief executive officer now directly owns 39,309 shares in the company, valued at approximately $1,641,150.75. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 12,469 shares of company stock valued at $520,276. 4.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in shares of Tenable by 0.3% during the first quarter. Vanguard Group Inc. now owns 12,543,352 shares of the company's stock worth $620,018,000 after acquiring an additional 32,535 shares during the last quarter. Mackenzie Financial Corp raised its holdings in Tenable by 12.7% during the 2nd quarter. Mackenzie Financial Corp now owns 4,191,935 shares of the company's stock worth $182,685,000 after purchasing an additional 471,126 shares during the last quarter. RGM Capital LLC boosted its stake in shares of Tenable by 4.5% in the 2nd quarter. RGM Capital LLC now owns 3,539,236 shares of the company's stock valued at $154,240,000 after purchasing an additional 153,127 shares during the last quarter. William Blair Investment Management LLC boosted its stake in shares of Tenable by 20.2% in the 1st quarter. William Blair Investment Management LLC now owns 3,491,301 shares of the company's stock valued at $172,575,000 after purchasing an additional 585,559 shares during the last quarter. Finally, Champlain Investment Partners LLC increased its position in shares of Tenable by 59.5% during the first quarter. Champlain Investment Partners LLC now owns 1,591,147 shares of the company's stock worth $78,650,000 after buying an additional 593,529 shares during the period. 89.06% of the stock is owned by institutional investors and hedge funds.

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.