Tenable (NASDAQ:TENB) Downgraded by Stifel Nicolaus to Hold

Tenable (NASDAQ:TENB - Get Free Report) was downgraded by Stifel Nicolaus from a "buy" rating to a "hold" rating in a research report issued on Friday, Marketbeat reports. They currently have a $45.00 target price on the stock, down from their previous target price of $46.00. Stifel Nicolaus' price objective indicates a potential upside of 9.36% from the stock's current price.

TENB has been the topic of several other research reports. Morgan Stanley reissued an "equal weight" rating and issued a $47.00 price objective (down previously from $50.00) on shares of Tenable in a research note on Monday, December 2nd. Needham & Company LLC reiterated a "buy" rating and issued a $50.00 price target on shares of Tenable in a research report on Monday, January 6th. Westpark Capital restated a "hold" rating on shares of Tenable in a research report on Thursday, October 31st. Jefferies Financial Group upped their target price on Tenable from $40.00 to $45.00 and gave the company a "hold" rating in a report on Thursday, December 19th. Finally, Robert W. Baird lowered their price target on shares of Tenable from $53.00 to $50.00 and set an "outperform" rating for the company in a report on Friday, October 25th. Seven equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $50.19.

Tenable Price Performance

Shares of NASDAQ:TENB traded down $1.44 during trading on Friday, hitting $41.15. 569,821 shares of the company were exchanged, compared to its average volume of 896,939. Tenable has a 1-year low of $35.25 and a 1-year high of $53.50. The company has a market capitalization of $4.94 billion, a P/E ratio of -80.67 and a beta of 0.85. 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 business's 50 day moving average is $41.13 and its 200-day moving average is $41.42.

Insider Transactions at Tenable

In related news, CEO Amit Yoran sold 5,293 shares of the company's stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $42.74, for a total value of $226,222.82. Following the sale, the chief executive officer now owns 51,691 shares in the company, valued at $2,209,273.34. This represents a 9.29 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Raymond Jr. Vicks sold 809 shares of Tenable stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $38.52, for a total value of $31,162.68. Following the transaction, the director now owns 8,659 shares of the company's stock, valued at $333,544.68. This trade represents a 8.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 21,463 shares of company stock valued at $894,042 over the last ninety days. 4.30% of the stock is owned by company insiders.

Institutional Trading of Tenable

Several institutional investors and hedge funds have recently modified their holdings of TENB. State Street Corp lifted its stake in Tenable by 2.6% during the 3rd quarter. State Street Corp now owns 2,913,580 shares of the company's stock valued at $118,058,000 after acquiring an additional 73,293 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Tenable by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 2,794,485 shares of the company's stock worth $113,255,000 after buying an additional 33,303 shares during the last quarter. Nordea Investment Management AB grew its holdings in shares of Tenable by 10.4% in the fourth quarter. Nordea Investment Management AB now owns 267,519 shares of the company's stock valued at $10,489,000 after acquiring an additional 25,247 shares in the last quarter. Fiera Capital Corp purchased a new stake in shares of Tenable during the third quarter valued at approximately $2,494,000. Finally, Barclays PLC lifted its holdings in Tenable by 31.9% during the third quarter. Barclays PLC now owns 731,626 shares of the company's stock worth $29,646,000 after acquiring an additional 177,048 shares during the period. 89.06% of the stock is owned by hedge funds and other 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.