Tenable (NASDAQ:TENB) Given New $45.00 Price Target at Truist Financial

Tenable (NASDAQ:TENB) had its price target lowered by investment analysts at Truist Financial from $48.00 to $45.00 in a report released on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Truist Financial’s target price would indicate a potential upside of 28.79% from the stock’s current price.

A number of other equities analysts also recently commented on the company. Morgan Stanley assumed coverage on Tenable in a report on Tuesday, March 18th. They set an “equal weight” rating and a $40.00 target price for the company. Needham & Company LLC restated a “buy” rating and issued a $50.00 price objective on shares of Tenable in a report on Thursday, February 6th. Jefferies Financial Group lifted their target price on shares of Tenable from $40.00 to $45.00 and gave the company a “hold” rating in a research note on Thursday, December 19th. Stifel Nicolaus cut shares of Tenable from a “buy” rating to a “hold” rating and reduced their price target for the company from $46.00 to $45.00 in a research report on Friday, January 17th. Finally, Scotiabank raised their price objective 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. Seven equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $48.53.

Tenable Price Performance

Shares of Tenable stock opened at $34.94 on Monday. The company’s fifty day simple moving average is $39.15 and its two-hundred day simple moving average is $40.34. Tenable has a 12-month low of $34.45 and a 12-month high of $50.07. The firm has a market cap of $4.20 billion, a PE ratio of -116.47 and a beta of 0.87. 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 (NASDAQ:TENB) last posted its earnings results on Wednesday, February 5th. The company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.26). Tenable had a negative return on equity of 2.07% and a negative net margin of 4.03%. As a group, equities analysts expect that Tenable will post 0.12 EPS for the current year.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Tenable

Hedge funds have recently added to or reduced their stakes in the company. FMR LLC increased its holdings in shares of 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 in the last quarter. Vanguard Group Inc. boosted its position 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 valued at $549,234,000 after buying an additional 708,249 shares during the last quarter. State Street Corp increased its holdings in Tenable by 2.6% in 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 in the last quarter. Geode Capital Management LLC raised its position in Tenable by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 2,803,231 shares of the company’s stock worth $110,416,000 after buying an additional 8,746 shares during the last quarter. Finally, First Trust Advisors LP lifted its stake in Tenable by 6.2% during the 4th quarter. First Trust Advisors LP now owns 2,332,650 shares of the company’s stock valued at $91,860,000 after acquiring an additional 137,150 shares during the period. 89.06% of the stock is currently owned by hedge funds and other institutional investors.

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.