Tenable (NASDAQ:TENB) Now Covered by Morgan Stanley

Analysts at Morgan Stanley assumed coverage on shares of Tenable (NASDAQ:TENB) in a research report issued to clients and investors on Tuesday, MarketBeat reports. The firm set an “equal weight” rating and a $40.00 price target on the stock. Morgan Stanley’s target price indicates a potential upside of 7.58% from the company’s previous close.

Other analysts also recently issued reports about the company. Jefferies Financial Group upped their price objective on Tenable from $40.00 to $45.00 and gave the stock a “hold” rating in a research report on Thursday, December 19th. Needham & Company LLC reissued a “buy” rating and issued a $50.00 target price on shares of Tenable in a report on Thursday, February 6th. Scotiabank lifted their price target on shares of Tenable from $44.00 to $45.00 and gave the company a “sector perform” rating in a report on Tuesday, January 21st. Stifel Nicolaus downgraded shares of Tenable from a “buy” rating to a “hold” rating and dropped their price objective for the company from $46.00 to $45.00 in a research note on Friday, January 17th. Finally, Barclays raised their target price on shares of Tenable from $45.00 to $48.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. Seven research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $49.20.

Tenable Trading Up 0.5 %

TENB opened at $37.18 on Tuesday. The stock has a market capitalization of $4.47 billion, a price-to-earnings ratio of -123.93 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 twelve month low of $35.25 and a twelve month high of $50.30. The company has a 50-day simple moving average of $39.67 and a 200 day simple moving average of $40.51.

Tenable (NASDAQ:TENB) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.26). Tenable had a negative net margin of 4.03% and a negative return on equity of 2.07%. Analysts predict that Tenable will post 0.12 EPS for the current fiscal year.

Insider Transactions at Tenable

In other news, CEO Stephen A. Vintz sold 6,681 shares of Tenable stock in a transaction 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 sale, the chief executive officer now owns 316,523 shares in the company, valued at $12,078,517.68. The trade was a 2.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Raymond Jr. Vicks sold 809 shares of the business’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $38.52, for a total transaction of $31,162.68. Following the transaction, the director now owns 8,659 shares in the company, valued at $333,544.68. The trade was a 8.54 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 14,937 shares of company stock worth $570,418. Company insiders own 4.30% of the company’s stock.

Institutional Investors Weigh In On Tenable

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Norges Bank bought a new position in shares of Tenable during the 4th quarter worth about $54,950,000. Shapiro Capital Management LLC increased its holdings in shares of Tenable by 647.5% during the fourth quarter. Shapiro Capital Management LLC now owns 1,060,055 shares of the company’s stock valued at $41,745,000 after acquiring an additional 918,235 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Tenable by 5.3% during the fourth quarter. Vanguard Group Inc. now owns 13,947,023 shares of the company’s stock valued at $549,234,000 after acquiring an additional 708,249 shares in the last quarter. Readystate Asset Management LP acquired a new position in shares of Tenable during the third quarter worth approximately $24,660,000. Finally, Assenagon Asset Management S.A. bought a new position in shares of Tenable in the 4th quarter worth $15,653,000. 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.