Stephens Upgrades Tenable (NASDAQ:TENB) to Strong-Buy

Stephens upgraded shares of Tenable (NASDAQ:TENB) to a strong-buy rating in a research note released on Monday,Zacks.com reports.

TENB has been the subject of a number of other reports. Morgan Stanley started coverage on Tenable in a report on Tuesday, March 18th. They issued an “equal weight” rating and a $40.00 price target for the company. Needham & Company LLC restated a “buy” rating and issued a $50.00 target price on shares of Tenable in a report on Thursday, February 6th. Jefferies Financial Group dropped their target price on shares of Tenable from $45.00 to $37.00 and set a “hold” rating on the stock in a research report on Monday. Scotiabank upped their price objective on shares of Tenable from $44.00 to $45.00 and gave the company a “sector perform” rating in a research note on Tuesday, January 21st. Finally, Stifel Nicolaus cut Tenable from a “buy” rating to a “hold” rating and cut their target price for the stock from $46.00 to $45.00 in a research report on Friday, January 17th. Seven analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $47.76.

Tenable Trading Up 0.5 %

Shares of NASDAQ:TENB opened at $35.17 on Monday. The company has a market cap of $4.23 billion, a PE ratio of -117.23 and a beta of 0.87. The company’s 50 day moving average is $38.91 and its two-hundred day moving average is $40.28. Tenable has a 52 week low of $33.84 and a 52 week high of $50.07. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.88.

Tenable (NASDAQ:TENB) last posted its 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 net margin of 4.03% and a negative return on equity of 2.07%. Equities analysts predict that Tenable will post 0.12 earnings per share for the current fiscal year.

Insider Buying and Selling at Tenable

In other news, CEO Mark C. Thurmond sold 1,341 shares of Tenable stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $39.56, for a total value of $53,049.96. Following the sale, the chief executive officer now owns 41,266 shares of the company’s stock, valued at $1,632,482.96. The trade was a 3.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Raymond Jr. Vicks sold 809 shares of the stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $38.52, for a total transaction of $31,162.68. Following the transaction, the director now directly owns 8,659 shares of the company’s stock, valued at $333,544.68. This represents a 8.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 14,937 shares of company stock valued at $570,418. 4.30% of the stock is owned by company insiders.

Institutional Trading of Tenable

A number of institutional investors have recently modified their holdings of the business. FMR LLC raised its position in Tenable by 2.0% in the fourth quarter. FMR LLC now owns 15,515,164 shares of the company’s stock worth $610,987,000 after acquiring an additional 304,237 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Tenable by 5.3% during the 4th quarter. Vanguard Group Inc. now owns 13,947,023 shares of the company’s stock worth $549,234,000 after purchasing an additional 708,249 shares in the last quarter. State Street Corp grew its stake in shares of Tenable by 2.6% during the 3rd quarter. State Street Corp now owns 2,913,580 shares of the company’s stock worth $118,058,000 after purchasing an additional 73,293 shares during the period. Geode Capital Management LLC increased its holdings in shares of Tenable by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 2,803,231 shares of the company’s stock valued at $110,416,000 after purchasing an additional 8,746 shares in the last quarter. Finally, First Trust Advisors LP lifted its stake in shares of Tenable by 6.2% in the fourth quarter. First Trust Advisors LP now owns 2,332,650 shares of the company’s stock valued at $91,860,000 after purchasing an additional 137,150 shares during the period. 89.06% of the stock is currently owned by hedge funds and other 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.