Morgan Stanley Begins Coverage on Tenable (NASDAQ:TENB)

Equities research analysts at Morgan Stanley initiated coverage on shares of Tenable (NASDAQ:TENB) in a research note issued on Tuesday. The brokerage set an “equal weight” rating on the stock.

A number of other research analysts have also recently commented on TENB. Needham & Company LLC reissued a “buy” rating and set a $50.00 target price on shares of Tenable in a research report on Thursday, February 6th. Stifel Nicolaus cut Tenable from a “buy” rating to a “hold” rating and cut their price objective for the company from $46.00 to $45.00 in a research note on Friday, January 17th. Jefferies Financial Group raised their price objective on Tenable from $40.00 to $45.00 and gave the stock a “hold” rating in a research note on Thursday, December 19th. Barclays boosted their target price on shares of Tenable from $45.00 to $48.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th. Finally, Scotiabank lifted their price target on shares of Tenable from $44.00 to $45.00 and gave the company a “sector perform” rating in a report on Tuesday, January 21st. Seven equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Tenable presently has a consensus rating of “Moderate Buy” and an average price target of $49.67.

Tenable Trading Down 1.3 %

NASDAQ TENB traded down $0.46 during mid-day trading on Tuesday, hitting $36.29. The company’s stock had a trading volume of 53,803 shares, compared to its average volume of 911,066. 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 52-week low of $35.25 and a 52-week high of $50.30. The stock’s fifty day simple moving average is $39.75 and its two-hundred day simple moving average is $40.56. The firm has a market capitalization of $4.37 billion, a P/E ratio of -120.56 and a beta of 0.87.

Tenable (NASDAQ:TENB) last posted its earnings results on Wednesday, February 5th. The company reported $0.08 earnings per share 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%. Research analysts expect that Tenable will post 0.12 EPS for the current year.

Insider Activity at Tenable

In other news, Director Linda Kay Zecher sold 2,500 shares of Tenable stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $37.00, for a total transaction of $92,500.00. Following the transaction, the director now owns 353 shares in the company, valued at approximately $13,061. The trade was a 87.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, 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 dated Wednesday, February 19th. The stock was sold at an average price of $39.56, for a total value of $53,049.96. Following the sale, the chief executive officer now owns 41,266 shares of the company’s stock, valued at $1,632,482.96. The trade was a 3.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 14,937 shares of company stock valued at $570,418 over the last 90 days. 4.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Tenable

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. FMR LLC increased its position in Tenable by 2.0% in the 4th quarter. FMR LLC now owns 15,515,164 shares of the company’s stock worth $610,987,000 after purchasing an additional 304,237 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Tenable by 5.3% in the fourth quarter. Vanguard Group Inc. now owns 13,947,023 shares of the company’s stock worth $549,234,000 after buying an additional 708,249 shares during the last quarter. State Street Corp boosted its holdings in shares of Tenable by 2.6% during the 3rd quarter. State Street Corp now owns 2,913,580 shares of the company’s stock worth $118,058,000 after buying an additional 73,293 shares during the period. Geode Capital Management LLC grew its stake in Tenable by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 2,803,231 shares of the company’s stock valued at $110,416,000 after buying an additional 8,746 shares during the last quarter. Finally, First Trust Advisors LP raised its holdings in Tenable by 6.2% in the 4th quarter. First Trust Advisors LP now owns 2,332,650 shares of the company’s stock worth $91,860,000 after acquiring an additional 137,150 shares during the period. 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.