Brokerages Set Tenable Holdings, Inc. (NASDAQ:TENB) Price Target at $50.63

Shares of Tenable Holdings, Inc. (NASDAQ:TENB) have received an average rating of “Moderate Buy” from the seventeen analysts that are currently covering the stock, Marketbeat reports. Six investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $50.63.

Several equities research analysts recently issued reports on the stock. Westpark Capital reiterated a “hold” rating on shares of Tenable in a research note on Thursday, October 31st. Piper Sandler cut their price objective on Tenable from $55.00 to $50.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. Robert W. Baird decreased their target price on Tenable from $53.00 to $50.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Barclays cut their price target on Tenable from $49.00 to $45.00 and set an “equal weight” rating for the company in a report on Thursday, October 31st. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $47.00 price objective (down from $50.00) on shares of Tenable in a research report on Monday, December 2nd.

Tenable Stock Performance

Shares of TENB stock opened at $42.92 on Friday. The company has a fifty day moving average price of $41.60 and a two-hundred day moving average price of $41.58. Tenable has a one year low of $35.25 and a one year high of $53.50. The stock has a market cap of $5.16 billion, a P/E ratio of -84.16 and a beta of 0.83. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.28 and a quick ratio of 1.28.

Insider Activity

In related news, CFO Stephen A. Vintz sold 2,801 shares of the firm’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $40.72, for a total value of $114,056.72. Following the transaction, the chief financial officer now owns 281,536 shares in the company, valued at approximately $11,464,145.92. This trade represents a 0.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Amit Yoran sold 5,293 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $42.74, for a total transaction of $226,222.82. Following the sale, the chief executive officer now directly owns 51,691 shares of the company’s stock, valued at $2,209,273.34. This represents a 9.29 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,654 shares of company stock worth $862,879. Corporate insiders own 4.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in TENB. Readystate Asset Management LP acquired a new position in shares of Tenable during the 3rd quarter worth $24,660,000. Mackenzie Financial Corp raised its stake in Tenable by 12.7% during 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 in the last quarter. FMR LLC lifted its holdings in shares of Tenable by 2.0% in the third 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 boosted its stake in shares of Tenable by 28.0% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 920,378 shares of the company’s stock valued at $37,294,000 after purchasing an additional 201,366 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new stake in shares of Tenable during the 2nd quarter valued at approximately $7,740,000. 89.06% of the stock is currently owned by institutional investors and hedge funds.

About Tenable

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.