Tenable (NASDAQ:TENB) Research Coverage Started at Morgan Stanley

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

Several other research analysts have also recently issued reports on the stock. Needham & Company LLC restated a “buy” rating and issued a $50.00 target price on shares of Tenable in a report on Thursday, February 6th. Jefferies Financial Group increased their price target on shares of Tenable from $40.00 to $45.00 and gave the stock a “hold” rating in a research note on Thursday, December 19th. Barclays increased their price target on shares of Tenable from $45.00 to $48.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 6th. Scotiabank increased their price target on shares of Tenable from $44.00 to $45.00 and gave the stock a “sector perform” rating in a research note on Tuesday, January 21st. Finally, Stifel Nicolaus downgraded shares of Tenable from a “buy” rating to a “hold” rating and cut their price objective for the stock from $46.00 to $45.00 in a research report on Friday, January 17th. 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. According to data from MarketBeat.com, Tenable currently has a consensus rating of “Moderate Buy” and an average target price of $49.20.

Tenable Stock Down 2.8 %

Shares of Tenable stock opened at $36.13 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 company has a market capitalization of $4.35 billion, a P/E ratio of -120.43 and a beta of 0.87. The company has a 50 day moving average of $39.62 and a 200 day moving average of $40.48.

Tenable (NASDAQ:TENB) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $0.08 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, research analysts forecast that Tenable will post 0.12 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Mark C. Thurmond sold 1,341 shares of the business’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $39.56, for a total transaction of $53,049.96. Following the completion of the transaction, the chief executive officer now owns 41,266 shares of the company’s stock, valued at approximately $1,632,482.96. The trade was a 3.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Raymond Jr. Vicks sold 809 shares of the business’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $38.52, for a total transaction of $31,162.68. Following 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 position. The disclosure for this sale can be found here. Insiders sold a total of 14,937 shares of company stock valued at $570,418 over the last 90 days. 4.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Tenable

Hedge funds and other institutional investors have recently modified their holdings of the stock. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of Tenable by 858.2% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 642 shares of the company’s stock valued at $25,000 after purchasing an additional 575 shares in the last quarter. Larson Financial Group LLC raised its stake in shares of Tenable by 658.6% during the third quarter. Larson Financial Group LLC now owns 751 shares of the company’s stock valued at $30,000 after purchasing an additional 652 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC bought a new stake in shares of Tenable during the fourth quarter valued at about $35,000. SBI Securities Co. Ltd. bought a new stake in shares of Tenable during the fourth quarter valued at about $38,000. Finally, Johnson Financial Group Inc. bought a new stake in shares of Tenable during the fourth quarter valued at about $53,000. 89.06% of the stock is currently owned by 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.