Tenable (NASDAQ:TENB) Price Target Cut to $50.00 by Analysts at Needham & Company LLC

Tenable (NASDAQ:TENB) had its target price lowered by Needham & Company LLC from $62.00 to $50.00 in a research note published on Thursday morning, Benzinga reports. The firm currently has a buy rating on the stock.

TENB has been the subject of a number of other reports. DA Davidson cut shares of Tenable from a buy rating to a neutral rating and lowered their target price for the stock from $56.00 to $40.00 in a research note on Thursday. Canaccord Genuity Group lowered their price objective on shares of Tenable from $57.00 to $53.00 and set a buy rating for the company in a research note on Thursday. Westpark Capital reissued a buy rating and issued a $54.00 target price on shares of Tenable in a research report on Monday, July 29th. Wedbush reaffirmed an outperform rating and set a $65.00 price target on shares of Tenable in a research report on Thursday, May 2nd. Finally, Piper Sandler dropped their price target on Tenable from $60.00 to $55.00 and set an overweight rating on the stock in a research note on Thursday. Four 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 stock. According to data from MarketBeat.com, Tenable has a consensus rating of Moderate Buy and an average target price of $53.00.

Tenable Trading Down 1.7 %

Shares of NASDAQ:TENB opened at $41.77 on Thursday. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.23 and a quick ratio of 1.23. The firm has a market capitalization of $4.97 billion, a P/E ratio of -72.02 and a beta of 0.86. The business’s 50-day moving average is $42.39 and its 200 day moving average is $45.44. Tenable has a 1 year low of $33.85 and a 1 year high of $53.50.

Insider Activity at Tenable

In other Tenable news, CEO Amit Yoran sold 4,851 shares of the stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $43.76, for a total transaction of $212,279.76. Following 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 accessible through the SEC website. In other news, COO Mark C. Thurmond sold 949 shares of the business’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $43.97, for a total transaction of $41,727.53. Following the completion of the sale, the chief operating officer now owns 32,906 shares of the company’s stock, valued at $1,446,876.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Amit Yoran sold 4,851 shares of the firm’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $43.76, for a total transaction of $212,279.76. Following the completion of the transaction, the chief executive officer now directly owns 361,457 shares in the company, valued at $15,817,358.32. The disclosure for this sale can be found here. Insiders sold a total of 64,132 shares of company stock worth $2,957,983 in the last 90 days. Corporate insiders own 4.30% of the company’s stock.

Hedge Funds Weigh In On Tenable

Hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC purchased a new stake in shares of Tenable during the fourth quarter worth approximately $127,000. Assenagon Asset Management S.A. purchased a new position in shares of Tenable in the fourth quarter worth about $1,404,000. Fulton Bank N.A. boosted its position in Tenable by 16.5% during the fourth quarter. Fulton Bank N.A. now owns 7,281 shares of the company’s stock worth $335,000 after acquiring an additional 1,029 shares during the last quarter. Prime Capital Investment Advisors LLC grew its stake in Tenable by 0.4% during the 4th quarter. Prime Capital Investment Advisors LLC now owns 121,194 shares of the company’s stock valued at $5,582,000 after acquiring an additional 474 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in Tenable by 6.4% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 801,267 shares of the company’s stock valued at $36,906,000 after acquiring an additional 48,410 shares during the last quarter. Institutional investors and hedge funds own 89.06% of the company’s stock.

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.