Tenable (NASDAQ:TENB) Coverage Initiated at Stephens

Stephens initiated coverage on shares of Tenable (NASDAQ:TENB - Free Report) in a research note issued to investors on Tuesday morning, Marketbeat.com reports. The brokerage issued an equal weight rating and a $42.00 target price on the stock.

Several other brokerages have also commented on TENB. Cantor Fitzgerald initiated coverage on Tenable in a research note on Monday. They set an "overweight" rating and a $50.00 price target on the stock. Needham & Company LLC restated a "buy" rating and issued a $50.00 price target on shares of Tenable in a report on Thursday, February 6th. Morgan Stanley started coverage on shares of Tenable in a research report on Tuesday, March 18th. They issued an "equal weight" rating and a $40.00 price target for the company. Jefferies Financial Group cut their price objective on shares of Tenable from $45.00 to $37.00 and set a "hold" rating on the stock in a report on Monday. Finally, Truist Financial lowered their target price on Tenable from $48.00 to $45.00 and set a "buy" rating for the company in a report on Monday. Seven equities research analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Tenable presently has a consensus rating of "Moderate Buy" and a consensus price target of $47.76.

Tenable Trading Down 5.1 %

TENB traded down $1.81 on Tuesday, reaching $33.35. 883,933 shares of the company traded hands, compared to its average volume of 956,352. The company has a market cap of $4.01 billion, a P/E ratio of -111.17 and a beta of 0.87. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.88. Tenable has a one year low of $32.99 and a one year high of $50.07. The firm has a fifty day simple moving average of $38.77 and a two-hundred day simple moving average of $40.24.

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Tenable (NASDAQ:TENB - Get Free Report) last posted 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 net margin of 4.03% and a negative return on equity of 2.07%. As a group, equities research analysts expect that Tenable will post 0.12 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Linda Kay Zecher sold 2,500 shares of the stock in a transaction that occurred on 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 approximately $13,061. This represents a 87.63 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Stephen A. Vintz sold 6,681 shares of the firm's stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 316,523 shares of the company's stock, valued at $12,078,517.68. This represents a 2.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 14,937 shares of company stock worth $570,418 in the last 90 days. Insiders own 4.30% of the company's stock.

Institutional Investors Weigh In On Tenable

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Tenable by 858.2% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 642 shares of the company's stock worth $25,000 after buying an additional 575 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC acquired a new position in Tenable in the fourth quarter valued at approximately $35,000. SBI Securities Co. Ltd. acquired a new position in Tenable in the fourth quarter valued at approximately $38,000. Johnson Financial Group Inc. purchased a new stake in Tenable in the 4th quarter worth approximately $53,000. Finally, Larson Financial Group LLC grew its stake in shares of Tenable by 89.9% during the 4th quarter. Larson Financial Group LLC now owns 1,426 shares of the company's stock worth $56,000 after purchasing an additional 675 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.