Scotiabank Issues Positive Forecast for Tenable (NASDAQ:TENB) Stock Price

Tenable (NASDAQ:TENB) had its price objective hoisted by Scotiabank from $44.00 to $45.00 in a research report sent to investors on Tuesday morning,Benzinga reports. They currently have a sector perform rating on the stock.

A number of other brokerages have also recently weighed in on TENB. Piper Sandler decreased their price target 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. Stifel Nicolaus lowered Tenable from a “buy” rating to a “hold” rating and lowered their price target for the stock from $46.00 to $45.00 in a report on Friday, January 17th. Needham & Company LLC reaffirmed a “buy” rating and set a $50.00 price target on shares of Tenable in a report on Monday, January 6th. Morgan Stanley reiterated an “equal weight” rating and issued a $47.00 price objective (down from $50.00) on shares of Tenable in a research report on Monday, December 2nd. Finally, Westpark Capital restated a “hold” rating on shares of Tenable in a research report on Thursday, October 31st. Seven 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, Tenable has an average rating of “Moderate Buy” and an average price target of $50.25.

Tenable Price Performance

TENB stock opened at $41.06 on Tuesday. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.88. The company has a market capitalization of $4.93 billion, a P/E ratio of -80.51 and a beta of 0.85. The business has a 50 day simple moving average of $41.10 and a 200-day simple moving average of $41.36. Tenable has a twelve month low of $35.25 and a twelve month high of $53.50.

Insider Transactions at Tenable

In other Tenable news, CEO Amit Yoran sold 4,828 shares of the firm’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $40.72, for a total transaction of $196,596.16. Following the completion of the transaction, the chief executive officer now owns 45,171 shares of the company’s stock, valued at approximately $1,839,363.12. This trade represents a 9.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Raymond Jr. Vicks sold 809 shares of the business’s stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $38.52, for a total value of $31,162.68. Following the completion of the transaction, the director now directly owns 8,659 shares of the company’s stock, valued at approximately $333,544.68. This trade represents a 8.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 21,463 shares of company stock valued at $894,042 in the last 90 days. 4.30% of the stock is currently owned by insiders.

Institutional Trading of Tenable

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