Tenable (NASDAQ:TENB) Shares Up 5.6% - Time to Buy?

Shares of Tenable Holdings, Inc. (NASDAQ:TENB - Get Free Report) were up 5.6% during mid-day trading on Thursday . The company traded as high as $42.85 and last traded at $42.78. Approximately 528,459 shares were traded during mid-day trading, a decline of 35% from the average daily volume of 808,137 shares. The stock had previously closed at $40.52.

Analysts Set New Price Targets

Several equities analysts have recently commented on TENB shares. Piper Sandler lowered their price objective on Tenable from $55.00 to $50.00 and set an "overweight" rating on the stock in a research report on Thursday, October 31st. Westpark Capital restated a "hold" rating on shares of Tenable in a research note on Thursday, October 31st. Barclays cut their price objective on shares of Tenable from $49.00 to $45.00 and set an "equal weight" rating for the company in a report on Thursday, October 31st. Jefferies Financial Group boosted their target price on shares of Tenable from $40.00 to $45.00 and gave the stock a "hold" rating in a report on Thursday, December 19th. Finally, Robert W. Baird cut their target price on shares of Tenable from $53.00 to $50.00 and set an "outperform" rating for the company in a research note on Friday, October 25th. Six equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Tenable has an average rating of "Moderate Buy" and a consensus price target of $50.63.

Tenable Price Performance

The stock's 50-day simple moving average is $41.12 and its two-hundred day simple moving average is $41.41. The firm has a market cap of $5.12 billion, a P/E ratio of -83.52 and a beta of 0.85. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.28 and a quick ratio of 1.28.

Insiders Place Their Bets

In other news, Director Raymond Jr. Vicks sold 809 shares of Tenable stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $38.52, for a total transaction of $31,162.68. Following the completion of the sale, the director now directly owns 8,659 shares in the company, valued at approximately $333,544.68. This trade represents a 8.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Amit Yoran sold 4,828 shares of the company's stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $40.72, for a total transaction of $196,596.16. Following the completion of the transaction, the chief executive officer now owns 45,171 shares in the company, valued at approximately $1,839,363.12. The trade was a 9.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 21,463 shares of company stock valued at $894,042 over the last 90 days. Insiders own 4.30% of the company's stock.

Institutional Trading of Tenable

A number of large investors have recently modified their holdings of the company. Quest Partners LLC bought a new stake in Tenable during the 2nd quarter valued at $40,000. Federated Hermes Inc. raised its holdings in shares of Tenable by 249.4% in the second quarter. Federated Hermes Inc. now owns 158,726 shares of the company's stock valued at $6,917,000 after acquiring an additional 113,295 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Tenable by 1.3% in the second quarter. Dimensional Fund Advisors LP now owns 68,192 shares of the company's stock worth $2,972,000 after acquiring an additional 858 shares during the period. Renaissance Technologies LLC bought a new position in Tenable during the 2nd quarter worth about $7,740,000. Finally, Edgestream Partners L.P. increased its position in Tenable by 155.7% during the 2nd quarter. Edgestream Partners L.P. now owns 58,500 shares of the company's stock valued at $2,549,000 after purchasing an additional 35,618 shares during the period. Hedge funds and other institutional investors own 89.06% of the company's stock.

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.

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