Truist Financial Reaffirms “Buy” Rating for Tenable (NASDAQ:TENB)

Truist Financial restated their buy rating on shares of Tenable (NASDAQ:TENB) in a report published on Thursday, Benzinga reports. The firm currently has a $55.00 price objective on the stock, down from their previous price objective of $60.00.

Other equities research analysts also recently issued reports about the company. DA Davidson downgraded Tenable from a buy rating to a neutral rating and decreased their target price for the stock from $56.00 to $40.00 in a research report on Thursday. Baird R W raised shares of Tenable to a strong-buy rating in a report on Monday, July 15th. Wells Fargo & Company decreased their price target on shares of Tenable from $60.00 to $50.00 and set an overweight rating on the stock in a research note on Thursday. Needham & Company LLC reissued a buy rating and issued a $62.00 price objective on shares of Tenable in a research note on Friday, June 14th. Finally, Scotiabank assumed coverage on shares of Tenable in a research report on Friday, April 26th. They set a sector perform rating and a $47.00 target price on the stock. Four research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of $53.00.

Tenable Price Performance

TENB stock opened at $41.77 on Thursday. The company has a market capitalization of $4.97 billion, a PE ratio of -72.02 and a beta of 0.86. Tenable has a one year low of $33.85 and a one year high of $53.50. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.23 and a current ratio of 1.23. The company’s fifty day moving average price is $42.39 and its 200-day moving average price is $45.44.

Insider Transactions at Tenable

In other news, Director Yoran Amit 70,000 shares of the company’s stock in a transaction on Tuesday, July 30th. The was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Amit Yoran sold 40,000 shares of Tenable stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $47.72, for a total value of $1,908,800.00. Following the transaction, the chief executive officer now directly owns 387,356 shares in the company, valued at approximately $18,484,628.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Yoran Amit 70,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 30th. The disclosure for this trade can be found here. Over the last three months, insiders have sold 64,132 shares of company stock valued at $2,957,983. 4.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Tenable

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Principal Securities Inc. purchased a new stake in shares of Tenable in the 4th quarter valued at $35,000. Fidelis Capital Partners LLC purchased a new stake in Tenable during the first quarter worth $58,000. SG Americas Securities LLC acquired a new stake in Tenable during the fourth quarter valued at $127,000. Verity & Verity LLC acquired a new position in shares of Tenable in the first quarter worth about $127,000. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of 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. Hedge funds and other institutional investors 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.