Tenable Holdings, Inc. (NASDAQ:TENB) Stock Rated “Hold” by Wall Street Analysts

Shares of Tenable Holdings, Inc. (NASDAQ:TENB) have received a consensus rating of “Hold” from the twenty-two brokerages that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and ten have issued a buy rating on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $46.25.

A number of equities research analysts recently commented on the stock. Stephens reissued a “positive” rating on shares of Tenable in a research note on Thursday, October 29th. JPMorgan Chase & Co. lifted their target price on shares of Tenable from $40.00 to $41.00 and gave the stock an “overweight” rating in a research report on Thursday, October 29th. Cantor Fitzgerald upped their price target on shares of Tenable from $45.00 to $53.00 and gave the company an “overweight” rating in a report on Thursday, October 29th. DA Davidson set a $44.00 price target on shares of Tenable in a research report on Thursday, October 29th. Finally, Needham & Company LLC raised their price objective on shares of Tenable from $36.00 to $55.00 and gave the stock a “buy” rating in a research note on Thursday, October 29th.

Insider Transactions at Tenable

In other news, Director A. Brooke Seawell sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $50.33, for a total value of $754,950.00. Following the completion of the transaction, the director owned 115,292 shares of the company’s stock, valued at $5,802,646.36. The trade was a 11.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Barron Anschutz sold 10,000 shares of the stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $51.00, for a total transaction of $510,000.00. Following the transaction, the chief accounting officer owned 66,077 shares in the company, valued at approximately $3,369,927. The trade was a 13.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 26,390 shares of company stock valued at $1,314,446. Insiders own 1.70% of the company’s stock.

Institutional Investors Weigh In On Tenable

Institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in Tenable during the 2nd quarter worth about $498,387,000. Arrowstreet Capital Limited Partnership raised its position in shares of Tenable by 175.1% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 3,732,271 shares of the company’s stock valued at $63,131,000 after acquiring an additional 2,375,587 shares during the last quarter. Voya Investment Management LLC lifted its position in Tenable by 90.5% in the 3rd quarter. Voya Investment Management LLC now owns 3,060,427 shares of the company’s stock valued at $111,369,000 after acquiring an additional 1,453,588 shares in the last quarter. The Manufacturers Life Insurance Company acquired a new stake in shares of Tenable in the 2nd quarter valued at approximately $76,759,000. Finally, Renaissance Technologies LLC increased its stake in shares of Tenable by 140.8% during the first quarter. Renaissance Technologies LLC now owns 1,260,100 shares of the company’s stock worth $21,315,000 after purchasing an additional 736,800 shares during the period. 89.06% of the stock is currently owned by institutional investors and hedge funds.

Tenable Stock Performance

Shares of TENB opened at $41.96 on Friday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.78. Tenable has a 52-week low of $15.73 and a 52-week high of $53.22. The company has a 50-day simple moving average of $39.34 and a 200-day simple moving average of $29.56. The company has a market capitalization of $4.39 billion, a PE ratio of 94.93 and a beta of 0.89.

Tenable (NASDAQ:TENB) last released its quarterly earnings data on Wednesday, October 28th. The company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.12. Tenable had a net margin of 1.48% and a return on equity of 28.72%. The firm had revenue of $276.39 million for the quarter, compared to the consensus estimate of $271.58 million. During the same quarter in the previous year, the firm earned $0.42 earnings per share. The firm’s revenue was up 9.5% on a year-over-year basis. Equities research analysts predict that Tenable will post 0.58 earnings per share for the current fiscal year.

Tenable Company Profile

Tenable Holdings, Inc. is a cybersecurity company that helps organizations identify, assess and manage security risks across their technology environments. Its exposure management approach is designed to give customers visibility into vulnerabilities and other potential weaknesses across information technology, cloud, operational technology and identity systems. The company’s offerings include Tenable One, its exposure management platform, and Nessus, its vulnerability assessment product. Its portfolio also includes solutions for security operations, cloud security, operational technology and application security.