Tenable (NASDAQ:TENB) Now Covered by Morgan Stanley

Morgan Stanley started coverage on shares of Tenable (NASDAQ:TENB) in a report released on Tuesday morning, MarketBeat Ratings reports. The firm issued an equal weight rating and a $40.00 target price on the stock.

A number of other analysts have also weighed in on the stock. Needham & Company LLC restated a “buy” rating and set a $50.00 target price on shares of Tenable in a research note on Thursday, February 6th. Scotiabank increased their price objective on shares of Tenable from $44.00 to $45.00 and gave the company a “sector perform” rating in a research report on Tuesday, January 21st. Jefferies Financial Group lifted their price objective 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 increased their target price on Tenable from $45.00 to $48.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. Finally, Stifel Nicolaus cut Tenable from a “buy” rating to a “hold” rating and cut their price target for the company from $46.00 to $45.00 in a research note on Friday, January 17th. Seven analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $49.20.

Tenable Price Performance

Tenable stock opened at $36.99 on Tuesday. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.88. Tenable has a 52-week low of $35.25 and a 52-week high of $50.30. The firm has a market cap of $4.45 billion, a PE ratio of -123.30 and a beta of 0.87. The company’s 50 day moving average is $39.71 and its two-hundred day moving average is $40.53.

Tenable (NASDAQ:TENB) last released its earnings results on Wednesday, February 5th. The company reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.26). Tenable had a negative net margin of 4.03% and a negative return on equity of 2.07%. On average, research analysts expect that Tenable will post 0.12 EPS for the current fiscal year.

Insiders Place Their Bets

In other Tenable news, CEO Stephen A. Vintz sold 6,681 shares of the firm’s stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $38.16, for a total transaction of $254,946.96. Following the transaction, the chief executive officer now directly owns 316,523 shares of the company’s stock, valued at approximately $12,078,517.68. This trade represents a 2.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Linda Kay Zecher sold 2,500 shares of Tenable stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $37.00, for a total transaction of $92,500.00. Following the completion of the transaction, the director now owns 353 shares in the company, valued at approximately $13,061. This represents a 87.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 14,937 shares of company stock valued at $570,418 over the last quarter. Company insiders own 4.30% of the company’s stock.

Hedge Funds Weigh In On Tenable

A number of hedge funds and other institutional investors have recently made changes to their positions in TENB. Norges Bank acquired a new position in Tenable in the 4th quarter valued at $54,950,000. Shapiro Capital Management LLC boosted its holdings in shares of Tenable by 647.5% in the fourth quarter. Shapiro Capital Management LLC now owns 1,060,055 shares of the company’s stock valued at $41,745,000 after acquiring an additional 918,235 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Tenable by 5.3% during the fourth quarter. Vanguard Group Inc. now owns 13,947,023 shares of the company’s stock worth $549,234,000 after acquiring an additional 708,249 shares during the period. Readystate Asset Management LP purchased a new position in Tenable during the third quarter worth about $24,660,000. Finally, Assenagon Asset Management S.A. purchased a new position in Tenable during the fourth quarter worth about $15,653,000. 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.