Tenable Holdings, Inc. (NASDAQ:TENB) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Tenable Holdings, Inc. (NASDAQ:TENB) has received a consensus recommendation of “Moderate Buy” from the fifteen brokerages that are presently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $57.20.

Several equities analysts have recently issued reports on TENB shares. Wedbush reiterated an “outperform” rating and set a $65.00 price target on shares of Tenable in a research report on Thursday, May 2nd. Stephens boosted their price target on shares of Tenable from $60.00 to $62.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 7th. Scotiabank initiated coverage on shares of Tenable in a research report on Friday, April 26th. They set a “sector perform” rating and a $47.00 price objective for the company. Wells Fargo & Company boosted their target price on shares of Tenable from $55.00 to $60.00 and gave the stock an “overweight” rating in a report on Wednesday, February 7th. Finally, Needham & Company LLC restated a “buy” rating and set a $62.00 target price on shares of Tenable in a report on Tuesday, May 14th.

Insider Buying and Selling

In other Tenable news, COO Mark C. Thurmond sold 2,219 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 $97,103.44. Following the transaction, the chief operating officer now owns 30,335 shares of the company’s stock, valued at approximately $1,327,459.60. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Tenable news, COO Mark C. Thurmond sold 3,644 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $46.81, for a total value of $170,575.64. Following the transaction, the chief operating officer now owns 38,149 shares in the company, valued at approximately $1,785,754.69. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO Mark C. Thurmond sold 2,219 shares of Tenable stock in a transaction on Monday, May 20th. The shares were sold at an average price of $43.76, for a total transaction of $97,103.44. Following the sale, the chief operating officer now directly owns 30,335 shares of the company’s stock, valued at approximately $1,327,459.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 263,792 shares of company stock valued at $12,435,502. Corporate insiders own 4.30% of the company’s stock.

Institutional Trading of Tenable

Several hedge funds and other institutional investors have recently modified their holdings of the company. Norges Bank acquired a new position in Tenable in the 4th quarter worth about $56,568,000. William Blair Investment Management LLC increased its holdings in Tenable by 36.6% in the third quarter. William Blair Investment Management LLC now owns 3,028,310 shares of the company’s stock worth $135,668,000 after buying an additional 810,831 shares during the last quarter. Readystate Asset Management LP bought a new position in Tenable during the fourth quarter valued at approximately $32,199,000. First Trust Advisors LP lifted its stake in Tenable by 18.0% in the fourth quarter. First Trust Advisors LP now owns 4,452,555 shares of the company’s stock valued at $205,085,000 after acquiring an additional 680,477 shares during the last quarter. Finally, Champlain Investment Partners LLC grew its position in Tenable by 59.5% in the first quarter. Champlain Investment Partners LLC now owns 1,591,147 shares of the company’s stock worth $78,650,000 after acquiring an additional 593,529 shares in the last quarter. 89.06% of the stock is currently owned by hedge funds and other institutional investors.

Tenable Stock Performance

TENB stock opened at $43.74 on Monday. The company has a market capitalization of $5.20 billion, a P/E ratio of -75.41 and a beta of 0.94. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 1.00. The company has a 50-day simple moving average of $46.32 and a 200 day simple moving average of $45.56. Tenable has a fifty-two week low of $33.85 and a fifty-two week high of $53.50.

Tenable (NASDAQ:TENB) last issued its quarterly earnings results on Wednesday, May 1st. The company reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.03. Tenable had a negative net margin of 8.18% and a negative return on equity of 10.40%. The company had revenue of $215.96 million during the quarter, compared to analyst estimates of $213.56 million. Sell-side analysts predict that Tenable will post -0.14 earnings per share for the current fiscal year.

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.