Tenable Holdings, Inc. (NASDAQ:TENB) Receives Average Recommendation of “Moderate Buy” from Brokerages

Tenable Holdings, Inc. (NASDAQ:TENB) has been given an average recommendation of “Moderate Buy” by the seventeen brokerages that are presently covering the stock, Marketbeat reports. Five investment analysts have rated the stock with a hold recommendation, eleven have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $50.81.

Several equities research analysts have recently weighed in on the stock. Susquehanna decreased their target price on shares of Tenable from $60.00 to $48.00 and set a “positive” rating for the company in a research note on Thursday, August 1st. Piper Sandler decreased their target price on shares of Tenable from $55.00 to $50.00 and set an “overweight” rating for the company in a research note on Thursday, October 31st. Scotiabank reduced their price objective on shares of Tenable from $47.00 to $44.00 and set a “sector perform” rating for the company in a research report on Thursday, August 1st. Truist Financial restated a “buy” rating and issued a $55.00 price objective (down previously from $60.00) on shares of Tenable in a research report on Thursday, August 1st. Finally, Westpark Capital restated a “hold” rating on shares of Tenable in a research report on Thursday, October 31st.

Tenable Price Performance

Shares of TENB opened at $40.79 on Monday. Tenable has a fifty-two week low of $35.25 and a fifty-two week high of $53.50. The company has a market capitalization of $4.90 billion, a price-to-earnings ratio of -79.98 and a beta of 0.83. The firm has a 50-day simple moving average of $40.81 and a 200-day simple moving average of $41.90. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.28 and a current ratio of 1.28.

Insider Buying and Selling at Tenable

In related news, CEO Amit Yoran sold 5,673 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $41.75, for a total transaction of $236,847.75. Following the sale, the chief executive officer now owns 39,309 shares of the company’s stock, valued at $1,641,150.75. This trade represents a 12.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Mark C. Thurmond sold 3,383 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $41.66, for a total value of $140,935.78. Following the sale, the chief operating officer now directly owns 34,079 shares in the company, valued at approximately $1,419,731.14. The trade was a 9.03 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 12,469 shares of company stock valued at $520,276. Insiders own 4.30% of the company’s stock.

Institutional Trading of Tenable

A number of hedge funds have recently added to or reduced their stakes in the business. Barclays PLC boosted its stake in Tenable by 31.9% in the 3rd quarter. Barclays PLC now owns 731,626 shares of the company’s stock worth $29,646,000 after buying an additional 177,048 shares during the last quarter. Y Intercept Hong Kong Ltd boosted its stake in Tenable by 25.0% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 22,894 shares of the company’s stock worth $928,000 after buying an additional 4,574 shares during the last quarter. Wolverine Trading LLC acquired a new stake in Tenable in the 3rd quarter worth about $206,000. Washington Harbour Partners LP boosted its stake in Tenable by 18.9% in the 3rd quarter. Washington Harbour Partners LP now owns 104,515 shares of the company’s stock worth $4,235,000 after buying an additional 16,600 shares during the last quarter. Finally, Two Sigma Advisers LP boosted its stake in Tenable by 56.2% in the 3rd quarter. Two Sigma Advisers LP now owns 379,600 shares of the company’s stock worth $15,381,000 after buying an additional 136,600 shares during the last quarter. 89.06% of the stock is 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.