Tenable (NASDAQ:TENB) Stock Rating Lowered by Stifel Nicolaus

Tenable (NASDAQ:TENB) was downgraded by equities researchers at Stifel Nicolaus from a “buy” rating to a “hold” rating in a research note issued on Friday, MarketBeat reports. They presently have a $45.00 target price on the stock, down from their previous target price of $46.00. Stifel Nicolaus’ price objective points to a potential upside of 10.21% from the company’s current price.

TENB has been the topic of several other reports. Robert W. Baird cut their price target on shares of Tenable from $53.00 to $50.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. Piper Sandler decreased their price target on Tenable from $55.00 to $50.00 and set an “overweight” rating for the company in a research note on Thursday, October 31st. Needham & Company LLC reiterated a “buy” rating and set a $50.00 price objective on shares of Tenable in a research note on Monday, January 6th. Barclays decreased their target price on shares of Tenable from $49.00 to $45.00 and set an “equal weight” rating for the company in a research note on Thursday, October 31st. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $47.00 price target (down from $50.00) on shares of Tenable in a research report on Monday, December 2nd. Seven research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $50.19.

Tenable Price Performance

Shares of TENB stock opened at $40.83 on Friday. 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 12-month low of $35.25 and a 12-month high of $53.50. The firm has a fifty day moving average of $41.11 and a 200-day moving average of $41.39. The firm has a market capitalization of $4.91 billion, a price-to-earnings ratio of -80.06 and a beta of 0.85.

Insiders Place Their Bets

In other news, CEO Amit Yoran sold 4,828 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $40.72, for a total value of $196,596.16. Following the completion of the transaction, the chief executive officer now directly owns 45,171 shares in the company, valued at approximately $1,839,363.12. The trade was a 9.66 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 sale, the director now owns 8,659 shares in the company, valued at $333,544.68. This represents a 8.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 21,463 shares of company stock worth $894,042 in the last 90 days. Company insiders own 4.30% of the company’s stock.

Hedge Funds Weigh In On Tenable

Several hedge funds and other institutional investors have recently modified their holdings of TENB. Nisa Investment Advisors LLC increased its position in Tenable by 74.1% during the 4th quarter. Nisa Investment Advisors LLC now owns 2,753 shares of the company’s stock worth $108,000 after purchasing an additional 1,172 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in Tenable in the 4th quarter valued at approximately $15,653,000. Harbor Capital Advisors Inc. boosted its position in Tenable by 430.7% during the 4th quarter. Harbor Capital Advisors Inc. now owns 248,117 shares of the company’s stock worth $9,771,000 after buying an additional 201,360 shares during the period. Fulton Bank N.A. grew its holdings in Tenable by 12.3% during the 4th quarter. Fulton Bank N.A. now owns 9,209 shares of the company’s stock worth $363,000 after acquiring an additional 1,007 shares during the last quarter. Finally, Nordea Investment Management AB increased its position in Tenable by 10.4% in the 4th quarter. Nordea Investment Management AB now owns 267,519 shares of the company’s stock valued at $10,489,000 after acquiring an additional 25,247 shares during the period. 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.