Scotiabank Boosts Tenable (NASDAQ:TENB) Price Target to $45.00

Tenable (NASDAQ:TENB) had its price target hoisted by equities researchers at Scotiabank from $44.00 to $45.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a “sector perform” rating on the stock. Scotiabank’s price target indicates a potential upside of 9.86% from the stock’s previous close.

A number of other research firms also recently issued reports on TENB. Robert W. Baird dropped their price target on Tenable from $53.00 to $50.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. Barclays dropped their target price on Tenable from $49.00 to $45.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 31st. Westpark Capital reissued a “hold” rating on shares of Tenable in a research report on Thursday, October 31st. Morgan Stanley reiterated an “equal weight” rating and set a $47.00 price objective (down previously from $50.00) on shares of Tenable in a research note on Monday, December 2nd. Finally, Piper Sandler lowered their price target on Tenable from $55.00 to $50.00 and set an “overweight” rating for the company in a report on Thursday, October 31st. Seven equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $50.25.

Tenable Trading Up 0.3 %

TENB stock traded up $0.13 during mid-day trading on Tuesday, reaching $40.96. The company had a trading volume of 345,215 shares, compared to its average volume of 892,651. The firm has a 50 day moving average of $41.10 and a 200 day moving average of $41.36. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.28 and a quick ratio of 1.28. Tenable has a 12 month low of $35.25 and a 12 month high of $53.50. The company has a market capitalization of $4.92 billion, a PE ratio of -80.33 and a beta of 0.85.

Insider Buying and Selling

In other news, CEO Amit Yoran sold 4,828 shares of the stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $40.72, for a total value of $196,596.16. Following the completion of the sale, the chief executive officer now directly owns 45,171 shares in the company, valued at $1,839,363.12. This represents a 9.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Raymond Jr. Vicks sold 809 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now directly owns 8,659 shares in the company, valued at $333,544.68. This trade represents a 8.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 21,463 shares of company stock valued at $894,042. 4.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Tenable

Several large investors have recently made changes to their positions in TENB. Nisa Investment Advisors LLC boosted its position in shares of Tenable by 74.1% during the fourth quarter. Nisa Investment Advisors LLC now owns 2,753 shares of the company’s stock worth $108,000 after buying an additional 1,172 shares during the period. Assenagon Asset Management S.A. purchased a new position in Tenable during the 4th quarter valued at about $15,653,000. Harbor Capital Advisors Inc. grew its position in Tenable by 430.7% in the 4th quarter. Harbor Capital Advisors Inc. now owns 248,117 shares of the company’s stock valued at $9,771,000 after acquiring an additional 201,360 shares in the last quarter. Fulton Bank N.A. increased its stake in Tenable by 12.3% during the fourth quarter. Fulton Bank N.A. now owns 9,209 shares of the company’s stock worth $363,000 after purchasing an additional 1,007 shares during the period. Finally, Nordea Investment Management AB boosted its stake 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 purchasing an additional 25,247 shares during the period. 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.