Truist Financial Has Lowered Expectations for Tenable (NASDAQ:TENB) Stock Price

Tenable (NASDAQ:TENB) had its price objective lowered by analysts at Truist Financial from $48.00 to $45.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Truist Financial’s price objective points to a potential upside of 28.79% from the company’s current price.

TENB has been the subject of several other reports. Scotiabank increased their target price on shares of Tenable from $44.00 to $45.00 and gave the stock a “sector perform” rating in a report on Tuesday, January 21st. Jefferies Financial Group upped their price target on shares of Tenable from $40.00 to $45.00 and gave the stock a “hold” rating in a research report on Thursday, December 19th. Barclays raised their price objective on shares of Tenable from $45.00 to $48.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. Needham & Company LLC reaffirmed a “buy” rating and issued a $50.00 target price on shares of Tenable in a report on Thursday, February 6th. Finally, Stifel Nicolaus cut Tenable from a “buy” rating to a “hold” rating and decreased their price target for the company from $46.00 to $45.00 in a report on Friday, January 17th. Seven research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $48.53.

Tenable Stock Performance

Shares of TENB opened at $34.94 on Monday. The firm has a market capitalization of $4.20 billion, a P/E ratio of -116.47 and a beta of 0.87. 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 one year low of $34.45 and a one year high of $50.07. The business has a fifty day moving average of $39.15 and a 200 day moving average of $40.34.

Tenable (NASDAQ:TENB) last released its quarterly earnings results on Wednesday, February 5th. The company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.26). Tenable had a negative net margin of 4.03% and a negative return on equity of 2.07%. As a group, sell-side analysts anticipate that Tenable will post 0.12 EPS for the current year.

Insider Activity at Tenable

In other news, Director Raymond Jr. Vicks sold 809 shares of the stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $38.52, for a total transaction of $31,162.68. Following the completion of the transaction, the director now directly owns 8,659 shares in the company, valued at approximately $333,544.68. This represents a 8.54 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Mark C. Thurmond sold 1,341 shares of the firm’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $39.56, for a total transaction of $53,049.96. Following the completion of the transaction, the chief executive officer now directly owns 41,266 shares of the company’s stock, valued at approximately $1,632,482.96. This trade represents a 3.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 14,937 shares of company stock valued at $570,418. Insiders own 4.30% of the company’s stock.

Institutional Trading of Tenable

Several hedge funds have recently made changes to their positions in TENB. PharVision Advisers LLC bought a new stake in Tenable during the fourth quarter worth approximately $442,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Tenable by 20.2% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 309,575 shares of the company’s stock worth $12,191,000 after purchasing an additional 51,989 shares during the period. Voloridge Investment Management LLC bought a new position in shares of Tenable during the 4th quarter valued at approximately $923,000. Vident Advisory LLC raised its holdings in Tenable by 23.3% during the 4th quarter. Vident Advisory LLC now owns 92,381 shares of the company’s stock valued at $3,638,000 after buying an additional 17,458 shares during the period. Finally, Twinbeech Capital LP bought a new stake in Tenable in the fourth quarter worth $2,554,000. 89.06% of the stock is currently owned by hedge funds and other institutional investors.

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.