Tenable (NASDAQ:TENB) Given New $45.00 Price Target at Scotiabank

Tenable (NASDAQ:TENB) had its price target lifted by Scotiabank from $44.00 to $45.00 in a report released on Tuesday,Benzinga reports. The firm presently has a “sector perform” rating on the stock. Scotiabank’s price target indicates a potential upside of 6.48% from the company’s current price.

Other analysts have also issued research reports about the company. Jefferies Financial Group boosted their price target on Tenable from $40.00 to $45.00 and gave the company a “hold” rating in a report on Thursday, December 19th. Piper Sandler lowered their target price on Tenable from $55.00 to $50.00 and set an “overweight” rating for the company in a report on Thursday, October 31st. Barclays cut their price target on Tenable from $49.00 to $45.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 31st. Stifel Nicolaus lowered shares of Tenable from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $46.00 to $45.00 in a research note on Friday, January 17th. Finally, Westpark Capital reissued a “hold” rating on shares of Tenable in a research report on Thursday, October 31st. Seven investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $50.25.

Tenable Trading Up 2.9 %

Shares of TENB opened at $42.26 on Tuesday. The firm has a market capitalization of $5.08 billion, a price-to-earnings ratio of -82.86 and a beta of 0.85. 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 1-year low of $35.25 and a 1-year high of $53.50. The company has a 50-day moving average of $41.08 and a 200 day moving average of $41.35.

Insider Buying and Selling

In related news, CEO Amit Yoran sold 4,828 shares of the company’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 $196,596.16. Following the transaction, the chief executive officer now directly owns 45,171 shares of the company’s stock, valued at $1,839,363.12. This represents a 9.66 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Raymond Jr. Vicks sold 809 shares of Tenable stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $38.52, for a total value of $31,162.68. Following the sale, the director now directly owns 8,659 shares of the company’s stock, valued at approximately $333,544.68. This represents a 8.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 21,463 shares of company stock worth $894,042 in the last ninety days. 4.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. FMR LLC lifted its holdings in shares of Tenable by 2.0% during the third quarter. FMR LLC now owns 15,210,927 shares of the company’s stock worth $616,347,000 after purchasing an additional 305,334 shares during the period. Mackenzie Financial Corp raised its position in Tenable by 12.7% during the 2nd quarter. Mackenzie Financial Corp now owns 4,191,935 shares of the company’s stock worth $182,685,000 after buying an additional 471,126 shares during the last quarter. State Street Corp lifted its stake in Tenable by 2.6% during the 3rd quarter. State Street Corp now owns 2,913,580 shares of the company’s stock valued at $118,058,000 after acquiring an additional 73,293 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Tenable by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 2,794,485 shares of the company’s stock valued at $113,255,000 after acquiring an additional 33,303 shares during the last quarter. Finally, Penserra Capital Management LLC increased its stake in shares of Tenable by 0.6% in the third quarter. Penserra Capital Management LLC now owns 1,135,875 shares of the company’s stock worth $46,025,000 after acquiring an additional 7,301 shares during the period. 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.