Tenable (NASDAQ:TENB) Upgraded at Stephens

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

TENB has been the subject of a number of other research reports. Barclays raised their price target on shares of Tenable from $45.00 to $48.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. Scotiabank raised their target price on Tenable from $44.00 to $45.00 and gave the stock a “sector perform” rating in a research note on Tuesday, January 21st. Truist Financial dropped their price target on Tenable from $48.00 to $45.00 and set a “buy” rating on the stock in a research note on Monday. Jefferies Financial Group reduced their price objective on Tenable from $45.00 to $37.00 and set a “hold” rating for the company in a research note on Monday. Finally, Cantor Fitzgerald initiated coverage on Tenable in a research report on Monday. They issued an “overweight” rating and a $50.00 target price on the stock. Seven research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Tenable presently has a consensus rating of “Moderate Buy” and an average target price of $47.76.

Tenable Stock Performance

Shares of TENB opened at $35.16 on Monday. Tenable has a 12 month low of $33.84 and a 12 month high of $50.07. The stock has a fifty day moving average price of $38.77 and a 200-day moving average price of $40.24. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.88. The firm has a market cap of $4.23 billion, a PE ratio of -117.20 and a beta of 0.87.

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

Insiders Place Their Bets

In related news, Director Linda Kay Zecher sold 2,500 shares of Tenable stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $37.00, for a total value of $92,500.00. Following the sale, the director now directly owns 353 shares in the company, valued at approximately $13,061. The trade was a 87.63 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Raymond Jr. Vicks sold 809 shares of the stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $38.52, for a total value 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. The trade was a 8.54 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 14,937 shares of company stock worth $570,418. 4.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in Tenable during the 4th quarter worth $54,950,000. Shapiro Capital Management LLC boosted its position in Tenable by 647.5% during the fourth quarter. Shapiro Capital Management LLC now owns 1,060,055 shares of the company’s stock worth $41,745,000 after acquiring an additional 918,235 shares during the last quarter. Vanguard Group Inc. grew its stake in Tenable by 5.3% during the 4th 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 stake in Tenable in the 3rd quarter valued at about $24,660,000. Finally, Assenagon Asset Management S.A. purchased a new position in Tenable in the 4th quarter worth approximately $15,653,000. 89.06% of the stock is 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.