DA Davidson Downgrades Tenable (NASDAQ:TENB) to Neutral

DA Davidson cut shares of Tenable (NASDAQ:TENB) from a buy rating to a neutral rating in a research report sent to investors on Thursday, Marketbeat Ratings reports. They currently have $40.00 price target on the stock, down from their prior price target of $56.00. DA Davidson also issued estimates for Tenable’s Q3 2024 earnings at ($0.01) EPS.

Other research analysts also recently issued reports about the company. Baird R W upgraded Tenable to a strong-buy rating in a research note on Monday, July 15th. Robert W. Baird assumed coverage on shares of Tenable in a research note on Monday, July 15th. They issued an outperform rating and a $55.00 price objective for the company. Wedbush restated an outperform rating and set a $65.00 target price on shares of Tenable in a research note on Thursday, May 2nd. Needham & Company LLC reiterated a buy rating and issued a $62.00 price target on shares of Tenable in a research note on Friday, June 14th. Finally, Scotiabank assumed coverage on Tenable in a report on Friday, April 26th. They set a sector perform rating and a $47.00 price target on the stock. Four analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Tenable has an average rating of Moderate Buy and an average price target of $53.00.

Tenable Trading Down 1.7 %

Shares of TENB stock opened at $41.77 on Thursday. Tenable has a 1 year low of $33.85 and a 1 year high of $53.50. The firm has a fifty day moving average price of $42.39 and a 200-day moving average price of $45.44. The company has a market cap of $4.97 billion, a price-to-earnings ratio of -72.02 and a beta of 0.86. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.23 and a quick ratio of 1.23.

Insider Transactions at Tenable

In other news, CEO Amit Yoran sold 40,000 shares of the business’s stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $47.72, for a total transaction of $1,908,800.00. Following the completion of the sale, the chief executive officer now directly owns 387,356 shares of the company’s stock, valued at $18,484,628.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Linda Kay Zecher sold 2,350 shares of the stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $43.47, for a total value of $102,154.50. Following the transaction, the director now owns 2,853 shares of the company’s stock, valued at $124,019.91. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Amit Yoran sold 40,000 shares of Tenable stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $47.72, for a total transaction of $1,908,800.00. Following the completion of the transaction, the chief executive officer now directly owns 387,356 shares in the company, valued at approximately $18,484,628.32. The disclosure for this sale can be found here. In the last quarter, insiders sold 64,132 shares of company stock worth $2,957,983. 4.30% of the stock is currently owned by insiders.

Institutional Trading of Tenable

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Xponance Inc. increased its holdings in shares of Tenable by 3.5% during the fourth quarter. Xponance Inc. now owns 6,939 shares of the company’s stock valued at $320,000 after acquiring an additional 232 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Tenable by 1.8% in the second quarter. Principal Financial Group Inc. now owns 15,930 shares of the company’s stock worth $694,000 after purchasing an additional 276 shares during the last quarter. Fulton Bank N.A. lifted its holdings in shares of Tenable by 4.1% during the first quarter. Fulton Bank N.A. now owns 7,576 shares of the company’s stock worth $374,000 after purchasing an additional 295 shares during the period. Allspring Global Investments Holdings LLC boosted its position in Tenable by 9.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 3,708 shares of the company’s stock valued at $183,000 after buying an additional 312 shares during the last quarter. Finally, Prime Capital Investment Advisors LLC increased its holdings in Tenable by 0.4% in the 4th quarter. Prime Capital Investment Advisors LLC now owns 121,194 shares of the company’s stock worth $5,582,000 after buying an additional 474 shares during the period. 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.