Tenable (NASDAQ:TENB) Earns Equal Weight Rating from Morgan Stanley

Tenable (NASDAQ:TENB)‘s stock had its “equal weight” rating reissued by equities researchers at Morgan Stanley in a report released on Monday,Benzinga reports. They presently have a $47.00 price objective on the stock, down from their previous price objective of $50.00. Morgan Stanley’s price objective points to a potential upside of 11.96% from the company’s current price.

Several other research analysts have also commented on the stock. Jefferies Financial Group initiated coverage on shares of Tenable in a report on Wednesday, October 16th. They issued a “hold” rating and a $45.00 price objective for the company. 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. Needham & Company LLC reaffirmed a “buy” rating and set a $50.00 price objective on shares of Tenable in a research report on Tuesday, October 29th. Barclays decreased their target price on Tenable from $49.00 to $45.00 and set an “equal weight” rating for the company in a research report on Thursday, October 31st. Finally, Westpark Capital restated a “hold” rating on shares of Tenable in a research report on Thursday, October 31st. Six equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $50.63.

Tenable Stock Up 0.2 %

Shares of NASDAQ:TENB opened at $41.98 on Monday. The company has a market cap of $5.04 billion, a PE ratio of -82.31 and a beta of 0.83. Tenable has a 1 year low of $35.25 and a 1 year high of $53.50. The stock’s 50-day moving average is $41.24 and its 200 day moving average is $41.63. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.28 and a quick ratio of 1.28.

Insider Transactions at Tenable

In other Tenable news, CFO Stephen A. Vintz sold 2,801 shares of the business’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $40.72, for a total transaction of $114,056.72. Following the completion of the sale, the chief financial officer now directly owns 281,536 shares in the company, valued at $11,464,145.92. The trade was a 0.99 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Mark C. Thurmond sold 2,343 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $42.74, for a total transaction of $100,139.82. Following the completion of the transaction, the chief operating officer now owns 37,188 shares in the company, valued at $1,589,415.12. This trade represents a 5.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 20,654 shares of company stock worth $862,879 over the last quarter. 4.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in TENB. Tidal Investments LLC raised its holdings in Tenable by 157.8% in the 1st quarter. Tidal Investments LLC now owns 23,268 shares of the company’s stock worth $1,150,000 after purchasing an additional 14,244 shares during the period. Harbor Capital Advisors Inc. grew its stake in shares of Tenable by 314.7% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 30,963 shares of the company’s stock valued at $1,349,000 after acquiring an additional 23,497 shares during the period. Diversified Trust Co raised its stake in Tenable by 35.7% during the 2nd quarter. Diversified Trust Co now owns 17,318 shares of the company’s stock worth $755,000 after acquiring an additional 4,552 shares during the period. Vanderbilt University boosted its position in shares of Tenable by 31.4% in the second quarter. Vanderbilt University now owns 129,576 shares of the company’s stock worth $5,647,000 after purchasing an additional 30,962 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in shares of Tenable by 11.5% in the second quarter. Bank of New York Mellon Corp now owns 868,126 shares of the company’s stock worth $37,833,000 after purchasing an additional 89,677 shares in the last quarter. 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.