Needham & Company LLC Increases Tenable (NASDAQ:TENB) Price Target to $48.00

Tenable (NASDAQ:TENB – Get Rating) had its price target increased by Needham & Company LLC from $44.00 to $48.00 in a research note issued to investors on Tuesday, Benzinga reports. They currently have a buy rating on the stock.

Several other research firms have also commented on TENB. Morgan Stanley lowered shares of Tenable from an overweight rating to an equal weight rating and reduced their price target for the company from $47.00 to $44.00 in a research report on Thursday, January 12th. Truist Financial lowered their target price on Tenable from $65.00 to $50.00 and set a buy rating for the company in a research report on Monday, October 24th. DA Davidson lowered their price target on Tenable from $53.00 to $47.00 in a research report on Wednesday, October 26th. BTIG Research downgraded Tenable from a buy rating to a neutral rating in a research report on Monday, October 10th. Finally, JPMorgan Chase & Co. began coverage on Tenable in a research report on Tuesday, January 24th. They issued a neutral rating and a $44.00 price target for the company. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, Tenable currently has a consensus rating of Moderate Buy and an average target price of $51.13.

Tenable Stock Performance

Shares of TENB stock opened at $43.31 on Tuesday. The stock has a market cap of $4.87 billion, a PE ratio of -58.53 and a beta of 1.27. The company’s fifty day moving average price is $38.46 and its 200-day moving average price is $38.56. Tenable has a 12 month low of $28.80 and a 12 month high of $63.61. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 1.40.

Insiders Place Their Bets

In other news, CEO Amit Yoran sold 4,754 shares of the stock in a transaction dated Friday, November 18th. The stock was sold at an average price of $38.61, for a total value of $183,551.94. Following the transaction, the chief executive officer now owns 136,886 shares in the company, valued at approximately $5,285,168.46. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Tenable news, CFO Stephen A. Vintz sold 2,758 shares of the stock in a transaction that occurred on Friday, November 18th. The stock was sold at an average price of $38.61, for a total transaction of $106,486.38. Following the completion of the sale, the chief financial officer now directly owns 154,333 shares of the company’s stock, valued at approximately $5,958,797.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Amit Yoran sold 4,754 shares of the stock in a transaction that occurred on Friday, November 18th. The stock was sold at an average price of $38.61, for a total value of $183,551.94. Following the sale, the chief executive officer now directly owns 136,886 shares of the company’s stock, valued at $5,285,168.46. The disclosure for this sale can be found here. Insiders have sold a total of 33,450 shares of company stock worth $1,258,075 in the last quarter. 4.80% of the stock is owned by company insiders.

Institutional Trading of Tenable

Hedge funds have recently modified their holdings of the business. Parkside Financial Bank & Trust purchased a new position in Tenable in the 1st quarter valued at approximately $25,000. Captrust Financial Advisors boosted its holdings in shares of Tenable by 81.0% during the second quarter. Captrust Financial Advisors now owns 791 shares of the company’s stock worth $36,000 after purchasing an additional 354 shares during the last quarter. Benjamin F. Edwards & Company Inc. acquired a new stake in shares of Tenable during the third quarter worth $54,000. Castleview Partners LLC acquired a new stake in shares of Tenable during the fourth quarter worth $62,000. Finally, CI Investments Inc. boosted its holdings in shares of Tenable by 590.7% during the second quarter. CI Investments Inc. now owns 1,713 shares of the company’s stock worth $78,000 after purchasing an additional 1,465 shares during the last quarter. 86.71% of the stock is owned by institutional investors and hedge funds.

About Tenable

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Tenable Holdings, Inc engages in the development of security software solutions. It offers Cyber Exposure which is a discipline for managing and measuring cybersecurity risk in the digital era. Its products include tenable.io, tenable.sc, tenable.ot, and nessus professional. The firm delivers solutions in the field of application security, cloud security, compliance, energy, finance, healthcare, and retail.