Tenable (NASDAQ:TENB) Given New $45.00 Price Target at Truist Financial

Tenable (NASDAQ:TENB - Free Report) had its price target reduced by Truist Financial from $48.00 to $45.00 in a research report released on Monday morning,Benzinga reports. Truist Financial currently has a buy rating on the stock.

Several other analysts have also recently issued reports on the stock. Morgan Stanley assumed coverage on shares of Tenable in a report on Tuesday, March 18th. They issued an "equal weight" rating and a $40.00 price target on the stock. Scotiabank increased their price target on shares of Tenable from $44.00 to $45.00 and gave the stock a "sector perform" rating in a research report on Tuesday, January 21st. Barclays lifted their price target on Tenable from $45.00 to $48.00 and gave the stock an "equal weight" rating in a research note on Thursday, February 6th. Stifel Nicolaus cut Tenable from a "buy" rating to a "hold" rating and cut their price objective for the company from $46.00 to $45.00 in a research note on Friday, January 17th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $50.00 target price on shares of Tenable in a research report on Thursday, February 6th. Seven research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $47.76.

Remove Ads

Tenable Stock Down 5.1 %

Tenable stock traded down $1.81 during midday trading on Monday, hitting $33.35. 813,458 shares of the stock were exchanged, compared to its average volume of 956,075. Tenable has a 1 year low of $32.99 and a 1 year high of $50.07. 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 firm 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 50 day moving average price of $38.77 and a two-hundred day moving average price of $40.24.

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

Insider Activity at Tenable

In other news, CEO Stephen A. Vintz sold 6,681 shares of the stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $38.16, for a total value of $254,946.96. Following the completion of the transaction, the chief executive officer now directly owns 316,523 shares in the company, valued at $12,078,517.68. This trade represents a 2.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Linda Kay Zecher sold 2,500 shares of the business's stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $37.00, for a total value of $92,500.00. Following the sale, the director now directly owns 353 shares in the company, valued at approximately $13,061. The trade was a 87.63 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 14,937 shares of company stock worth $570,418 in the last three months. 4.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Tenable

Several hedge funds have recently modified their holdings of the company. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Tenable by 858.2% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 642 shares of the company's stock valued at $25,000 after buying an additional 575 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC bought a new position in shares of Tenable during the 4th quarter valued at about $35,000. SBI Securities Co. Ltd. acquired a new position in shares of Tenable in the 4th quarter worth approximately $38,000. Johnson Financial Group Inc. bought a new stake in shares of Tenable in the 4th quarter worth approximately $53,000. Finally, Larson Financial Group LLC lifted its stake in Tenable by 89.9% during the fourth quarter. Larson Financial Group LLC now owns 1,426 shares of the company's stock valued at $56,000 after purchasing an additional 675 shares during the last quarter. 89.06% of the stock is currently 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.