Morgan Stanley Begins Coverage on Tenable (NASDAQ:TENB)

Morgan Stanley assumed coverage on shares of Tenable (NASDAQ:TENB - Free Report) in a research note issued to investors on Tuesday morning, Marketbeat.com reports. The firm issued an equal weight rating and a $40.00 price target on the stock.

A number of other analysts have also commented on TENB. Barclays lifted their price target on Tenable from $45.00 to $48.00 and gave the stock an "equal weight" rating in a report on Thursday, February 6th. Jefferies Financial Group lifted their price target on Tenable from $40.00 to $45.00 and gave the stock a "hold" rating in a report on Thursday, December 19th. Needham & Company LLC reiterated a "buy" rating and set a $50.00 price target on shares of Tenable in a report on Thursday, February 6th. Scotiabank lifted their price target on Tenable from $44.00 to $45.00 and gave the stock a "sector perform" rating in a report on Tuesday, January 21st. Finally, Stifel Nicolaus cut Tenable from a "buy" rating to a "hold" rating and dropped their price target for the company from $46.00 to $45.00 in a research report on Friday, January 17th. Seven investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $49.20.

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Tenable Stock Up 0.3 %

Shares of TENB stock traded up $0.12 during trading hours on Tuesday, reaching $36.25. The company had a trading volume of 1,942,412 shares, compared to its average volume of 919,674. Tenable has a 12 month low of $35.25 and a 12 month high of $50.30. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.28 and a quick ratio of 1.28. The business has a fifty day simple moving average of $39.57 and a 200-day simple moving average of $40.44. The company has a market cap of $4.36 billion, a price-to-earnings ratio of -120.83 and a beta of 0.87.

Tenable (NASDAQ:TENB - Get Free Report) last posted its earnings results on Wednesday, February 5th. The company reported $0.08 earnings per share for the quarter, missing analysts' consensus estimates of $0.34 by ($0.26). Tenable had a negative net margin of 4.03% and a negative return on equity of 2.07%. On average, research analysts expect that Tenable will post 0.12 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Raymond Jr. Vicks sold 809 shares of the stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $38.52, for a total transaction of $31,162.68. Following the transaction, the director now directly owns 8,659 shares in the company, valued at approximately $333,544.68. This represents a 8.54 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 transaction, the director now owns 353 shares in the company, valued at $13,061. This trade represents a 87.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 14,937 shares of company stock worth $570,418 in the last ninety days. 4.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Tenable

Several institutional investors have recently modified their holdings of TENB. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Tenable by 858.2% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 642 shares of the company's stock valued at $25,000 after acquiring an additional 575 shares during the period. Larson Financial Group LLC boosted its holdings in Tenable by 658.6% during the 3rd quarter. Larson Financial Group LLC now owns 751 shares of the company's stock valued at $30,000 after acquiring an additional 652 shares during the period. Kayne Anderson Rudnick Investment Management LLC purchased a new stake in Tenable during the 4th quarter valued at about $35,000. SBI Securities Co. Ltd. purchased a new stake in Tenable during the 4th quarter valued at about $38,000. Finally, Johnson Financial Group Inc. purchased a new stake in Tenable during the 4th quarter valued at about $53,000. 89.06% of the stock is currently owned by institutional investors.

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.