Piper Sandler Has Lowered Expectations for Tenable (NASDAQ:TENB) Stock Price

Tenable (NASDAQ:TENB) had its target price trimmed by Piper Sandler from $55.00 to $50.00 in a research report report published on Thursday morning, Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other analysts also recently issued reports on the stock. Morgan Stanley lowered their price target on shares of Tenable from $55.00 to $50.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Westpark Capital cut Tenable from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 1st. Wells Fargo & Company cut their price target on Tenable from $60.00 to $50.00 and set an “overweight” rating for the company in a research note on Thursday, August 1st. DA Davidson downgraded Tenable from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $56.00 to $40.00 in a research report on Thursday, August 1st. Finally, Canaccord Genuity Group cut their price objective on Tenable from $57.00 to $53.00 and set a “buy” rating for the company in a research report on Thursday, August 1st. Five equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Tenable currently has a consensus rating of “Moderate Buy” and an average price target of $50.81.

Tenable Trading Down 2.1 %

Shares of NASDAQ:TENB opened at $38.78 on Thursday. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.98. Tenable has a 12-month low of $33.85 and a 12-month high of $53.50. The business has a 50 day moving average of $40.71 and a two-hundred day moving average of $42.15. The company has a market capitalization of $4.62 billion, a PE ratio of -76.04 and a beta of 0.83.

Insider Buying and Selling

In other Tenable news, CEO Amit Yoran sold 5,673 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $41.75, for a total value of $236,847.75. Following the completion of the sale, the chief executive officer now directly owns 39,309 shares in the company, valued at $1,641,150.75. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Tenable news, CFO Stephen A. Vintz sold 3,413 shares of Tenable stock in a transaction on Monday, August 26th. The stock was sold at an average price of $41.75, for a total value of $142,492.75. Following the sale, the chief financial officer now owns 278,493 shares in the company, valued at $11,627,082.75. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Amit Yoran sold 5,673 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $41.75, for a total value of $236,847.75. Following the sale, the chief executive officer now directly owns 39,309 shares of the company’s stock, valued at $1,641,150.75. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 12,469 shares of company stock worth $520,276. 4.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of TENB. Covestor Ltd raised its position in Tenable by 84.5% in the third quarter. Covestor Ltd now owns 631 shares of the company’s stock valued at $26,000 after purchasing an additional 289 shares during the period. Quest Partners LLC purchased a new stake in shares of Tenable in the 2nd quarter valued at $40,000. Fidelis Capital Partners LLC acquired a new position in Tenable during the 1st quarter worth about $58,000. Allspring Global Investments Holdings LLC boosted its holdings in Tenable by 9.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,708 shares of the company’s stock valued at $183,000 after acquiring an additional 312 shares during the period. Finally, Truvestments Capital LLC purchased a new position in Tenable during the 1st quarter valued at about $189,000. Hedge funds and other institutional investors own 89.06% of the company’s stock.

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.