Canaccord Genuity Group Cuts Tenable (NASDAQ:TENB) Price Target to $53.00

Tenable (NASDAQ:TENB) had its target price trimmed by Canaccord Genuity Group from $57.00 to $53.00 in a research report report published on Thursday morning, Benzinga reports. The firm currently has a buy rating on the stock.

A number of other research analysts have also issued reports on TENB. Needham & Company LLC reiterated a buy rating and set a $62.00 target price on shares of Tenable in a research report on Friday, June 14th. Scotiabank started coverage on shares of Tenable in a research report on Friday, April 26th. They issued a sector perform rating and a $47.00 target price on the stock. Susquehanna reduced their price target on shares of Tenable from $60.00 to $48.00 and set a positive rating for the company in a research report on Thursday. Robert W. Baird cut their price objective on Tenable from $55.00 to $53.00 and set an outperform rating for the company in a research note on Thursday. Finally, Wells Fargo & Company decreased their target price on Tenable from $60.00 to $50.00 and set an overweight rating on the stock in a research report on Thursday. Four equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Tenable presently has an average rating of Moderate Buy and an average price target of $53.00.

Tenable Trading Down 1.7 %

Tenable stock opened at $41.77 on Thursday. The firm has a market cap of $4.97 billion, a PE 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 stock’s 50 day simple moving average is $42.39 and its two-hundred day simple moving average is $45.44. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 1.00.

Insiders Place Their Bets

In related news, CEO Amit Yoran sold 4,851 shares of Tenable stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $43.76, for a total value of $212,279.76. Following the completion of the transaction, the chief executive officer now owns 361,457 shares in the company, valued at $15,817,358.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Tenable news, CEO Amit Yoran sold 4,851 shares of the company’s 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 sale, the chief executive officer now owns 361,457 shares in the company, valued at approximately $15,817,358.32. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Mark C. Thurmond 4,700 shares of Tenable stock in a transaction that occurred on Tuesday, July 30th. The disclosure for this trade can be found here. Insiders have sold 64,132 shares of company stock worth $2,957,983 over the last three months. Company insiders own 4.30% of the company’s stock.

Institutional Investors Weigh In On Tenable

Institutional investors have recently modified their holdings of the company. Principal Securities Inc. acquired a new stake in shares of Tenable during the 4th quarter worth about $35,000. Fidelis Capital Partners LLC acquired a new stake in Tenable during the first quarter worth approximately $58,000. SG Americas Securities LLC acquired a new position in shares of Tenable in the 4th quarter valued at $127,000. Verity & Verity LLC purchased a new position in shares of Tenable in the 1st quarter valued at $127,000. Finally, Allspring Global Investments Holdings LLC raised its stake in Tenable by 9.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,708 shares of the company’s stock worth $183,000 after acquiring an additional 312 shares in the last quarter. 89.06% of the stock is owned by hedge funds and other institutional investors.

Tenable Company Profile

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.