Wells Fargo & Company Trims Tenable (NASDAQ:TENB) Target Price to $50.00

Tenable (NASDAQ:TENB) had its price target lowered by Wells Fargo & Company from $60.00 to $50.00 in a report published on Thursday, Benzinga reports. The firm currently has an overweight rating on the stock.

Several other brokerages also recently weighed in on TENB. Westpark Capital reaffirmed a buy rating and set a $54.00 price target on shares of Tenable in a research report on Monday, July 29th. DA Davidson cut Tenable from a buy rating to a neutral rating and reduced their price target for the company from $56.00 to $40.00 in a research report on Thursday. Susquehanna lowered their price objective on Tenable from $60.00 to $48.00 and set a positive rating on the stock in a research report on Thursday. Baird R W raised shares of Tenable to a strong-buy rating in a report on Monday, July 15th. Finally, Robert W. Baird cut their price target on Tenable from $55.00 to $53.00 and set an outperform rating for the company in a research note on Thursday. Four analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $53.00.

Tenable Stock Down 1.7 %

TENB stock opened at $41.77 on Thursday. The company has a market capitalization of $4.97 billion, a P/E ratio of -72.02 and a beta of 0.86. Tenable has a 12 month low of $33.85 and a 12 month high of $53.50. The firm’s fifty day simple moving average is $42.39 and its 200-day simple moving average is $45.44. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.23 and a quick ratio of 1.23.

Insider Activity

In other Tenable news, COO Mark C. Thurmond sold 949 shares of the company’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $43.97, for a total transaction of $41,727.53. Following the sale, the chief operating officer now owns 32,906 shares in the company, valued at approximately $1,446,876.82. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Tenable news, CEO Amit Yoran sold 4,851 shares of Tenable stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $43.76, for a total transaction of $212,279.76. Following the completion of the sale, the chief executive officer now directly owns 361,457 shares of the company’s stock, valued at approximately $15,817,358.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Mark C. Thurmond sold 949 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $43.97, for a total value of $41,727.53. Following the completion of the transaction, the chief operating officer now directly owns 32,906 shares of the company’s stock, valued at $1,446,876.82. The disclosure for this sale can be found here. Over the last three months, insiders have sold 64,132 shares of company stock worth $2,957,983. Corporate insiders own 4.30% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in Tenable by 0.3% in the first quarter. Vanguard Group Inc. now owns 12,543,352 shares of the company’s stock valued at $620,018,000 after acquiring an additional 32,535 shares during the last quarter. First Trust Advisors LP grew its stake in Tenable by 18.0% during the 4th quarter. First Trust Advisors LP now owns 4,452,555 shares of the company’s stock worth $205,085,000 after buying an additional 680,477 shares during the last quarter. William Blair Investment Management LLC increased its position in Tenable by 20.2% during the first quarter. William Blair Investment Management LLC now owns 3,491,301 shares of the company’s stock worth $172,575,000 after buying an additional 585,559 shares during the period. Mackenzie Financial Corp increased its position in Tenable by 0.5% during the fourth quarter. Mackenzie Financial Corp now owns 3,038,152 shares of the company’s stock worth $139,937,000 after buying an additional 16,515 shares during the period. Finally, Champlain Investment Partners LLC lifted its stake in Tenable by 59.5% in the first quarter. Champlain Investment Partners LLC now owns 1,591,147 shares of the company’s stock valued at $78,650,000 after buying an additional 593,529 shares during the last quarter. 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.