Tenable (NASDAQ:TENB) Downgraded by DA Davidson to Neutral

DA Davidson lowered shares of Tenable (NASDAQ:TENB) from a buy rating to a neutral rating in a research report released on Thursday morning, MarketBeat.com reports. They currently have $40.00 target price on the stock, down from their previous target price of $56.00. DA Davidson also issued estimates for Tenable’s Q3 2024 earnings at ($0.01) EPS.

A number of other equities research analysts also recently issued reports on the stock. Westpark Capital reiterated a buy rating and issued a $54.00 target price on shares of Tenable in a research report on Monday, July 29th. Baird R W raised Tenable to a strong-buy rating in a research note on Monday, July 15th. Wedbush restated an outperform rating and set a $65.00 price target on shares of Tenable in a report on Thursday, May 2nd. Needham & Company LLC reaffirmed a buy rating and issued a $62.00 price target on shares of Tenable in a research report on Friday, June 14th. Finally, Scotiabank initiated coverage on Tenable in a research report on Friday, April 26th. They set a sector perform rating and a $47.00 price objective for the company. Four investment 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’s stock. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus target price of $53.00.

Tenable Trading Down 1.7 %

NASDAQ TENB opened at $41.77 on Thursday. The firm’s 50 day moving average price is $42.39 and its two-hundred day moving average price is $45.44. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.23 and a current ratio of 1.23. Tenable has a twelve month low of $33.85 and a twelve month high of $53.50. The stock has a market cap of $4.97 billion, a price-to-earnings ratio of -72.02 and a beta of 0.86.

Insider Activity

In related news, COO Mark C. Thurmond sold 2,219 shares of the stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $43.76, for a total transaction of $97,103.44. Following the completion of the sale, the chief operating officer now owns 30,335 shares in the company, valued at approximately $1,327,459.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Amit Yoran sold 4,851 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $43.76, for a total value of $212,279.76. Following the transaction, 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 hyperlink. Also, COO Mark C. Thurmond sold 2,219 shares of the firm’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $43.76, for a total value of $97,103.44. Following the sale, the chief operating officer now directly owns 30,335 shares of the company’s stock, valued at $1,327,459.60. The disclosure for this sale can be found here. In the last quarter, insiders have sold 64,132 shares of company stock worth $2,957,983. Corporate insiders own 4.30% of the company’s stock.

Institutional Trading of Tenable

Several large investors have recently made changes to their positions in the business. Principal Securities Inc. bought a new position in shares of Tenable in the fourth quarter valued at about $35,000. Fidelis Capital Partners LLC bought a new position in shares of Tenable in the first quarter worth about $58,000. SG Americas Securities LLC bought a new position in shares of Tenable in the fourth quarter worth about $127,000. Verity & Verity LLC acquired a new position in shares of Tenable during the first quarter worth approximately $127,000. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of Tenable by 9.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 3,708 shares of the company’s stock valued at $183,000 after purchasing an additional 312 shares during the last quarter. Institutional investors 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.