Tenable’s (TENB) Equal Weight Rating Reaffirmed at Morgan Stanley

Tenable (NASDAQ:TENB)‘s stock had its “equal weight” rating reaffirmed by equities researchers at Morgan Stanley in a report released on Monday, Marketbeat Ratings reports. They presently have a $47.00 target price on the stock, down from their previous target price of $50.00. Morgan Stanley’s target price would indicate a potential upside of 10.80% from the stock’s current price.

A number of other research analysts have also commented on the company. Robert W. Baird lowered their price target on Tenable from $53.00 to $50.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. Needham & Company LLC restated a “buy” rating and issued a $50.00 price objective on shares of Tenable in a report on Tuesday, October 29th. Piper Sandler reduced their price target on Tenable from $55.00 to $50.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. Jefferies Financial Group initiated coverage on shares of Tenable in a report on Wednesday, October 16th. They set a “hold” rating and a $45.00 target price on the stock. Finally, Westpark Capital reiterated a “hold” rating on shares of Tenable in a research note on Thursday, October 31st. Six equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $50.63.

Tenable Stock Up 0.9 %

Shares of NASDAQ TENB opened at $42.42 on Monday. The company has a market cap of $5.10 billion, a price-to-earnings ratio of -83.18 and a beta of 0.83. 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 firm’s fifty day moving average is $41.33 and its 200 day moving average is $41.60. Tenable has a 52 week low of $35.25 and a 52 week high of $53.50.

Insider Activity at Tenable

In other news, CEO Amit Yoran sold 4,828 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The shares were 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 directly owns 45,171 shares of the company’s stock, valued at $1,839,363.12. The trade was a 9.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Mark C. Thurmond sold 2,209 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $40.72, for a total transaction of $89,950.48. Following the completion of the sale, the chief operating officer now owns 35,480 shares in the company, valued at $1,444,745.60. This represents a 5.86 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 20,654 shares of company stock valued at $862,879. 4.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Tenable

Several hedge funds and other institutional investors have recently modified their holdings of TENB. Readystate Asset Management LP purchased a new position in shares of Tenable in the third quarter worth approximately $24,660,000. Mackenzie Financial Corp raised its position in Tenable by 12.7% in the second quarter. Mackenzie Financial Corp now owns 4,191,935 shares of the company’s stock worth $182,685,000 after acquiring an additional 471,126 shares during the period. FMR LLC boosted its stake in shares of Tenable by 2.0% during the 3rd quarter. FMR LLC now owns 15,210,927 shares of the company’s stock worth $616,347,000 after acquiring an additional 305,334 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Tenable by 28.0% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 920,378 shares of the company’s stock valued at $37,294,000 after acquiring an additional 201,366 shares during the period. Finally, Renaissance Technologies LLC purchased a new stake in shares of Tenable in the 2nd quarter worth $7,740,000. 89.06% of the stock is owned by institutional investors.

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.