Tenable (NASDAQ:TENB) Price Target Cut to $55.00 by Analysts at Piper Sandler

Tenable (NASDAQ:TENB) had its target price trimmed by Piper Sandler from $60.00 to $55.00 in a report published on Thursday, Benzinga reports. The firm currently has an overweight rating on the stock.

TENB has been the subject of several other reports. Robert W. Baird reduced their price objective on Tenable from $55.00 to $53.00 and set an outperform rating for the company in a research note on Thursday. Westpark Capital restated a buy rating and issued a $54.00 target price on shares of Tenable in a research note on Monday, July 29th. Scotiabank initiated coverage on shares of Tenable in a research note on Friday, April 26th. They set a sector perform rating and a $47.00 price target on the stock. Wells Fargo & Company cut their price target on shares of Tenable from $60.00 to $50.00 and set an overweight rating for the company in a report on Thursday. Finally, DA Davidson cut Tenable from a buy rating to a neutral rating and dropped their target price for the stock from $56.00 to $40.00 in a research report on Thursday. Four analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $53.00.

Tenable Trading Down 1.7 %

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

Insider Buying and Selling at Tenable

In related news, CEO Amit Yoran sold 4,851 shares of the business’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $43.76, for a total value of $212,279.76. Following the completion of the transaction, the chief executive officer now owns 361,457 shares of the company’s stock, valued at approximately $15,817,358.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Tenable news, CEO Amit Yoran sold 4,851 shares of the stock in a transaction on Monday, May 20th. The stock was sold at an average price of $43.76, for a total transaction of $212,279.76. Following the transaction, the chief executive officer now owns 361,457 shares of the company’s stock, valued at approximately $15,817,358.32. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Linda Kay Zecher sold 2,350 shares of Tenable stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $43.47, for a total value of $102,154.50. Following the completion of the sale, the director now directly owns 2,853 shares of the company’s stock, valued at approximately $124,019.91. The disclosure for this sale can be found here. Insiders have sold 64,132 shares of company stock valued at $2,957,983 over the last quarter. Corporate insiders own 4.30% of the company’s stock.

Institutional Investors Weigh In On Tenable

Institutional investors and hedge funds have recently modified their holdings of the stock. Principal Securities Inc. purchased a new stake in shares of Tenable during the 4th quarter valued at about $35,000. Fidelis Capital Partners LLC purchased a new stake in Tenable during the 1st quarter worth $58,000. Verity & Verity LLC acquired a new position in Tenable in the 1st quarter worth $127,000. SG Americas Securities LLC acquired a new stake in shares of Tenable during the fourth quarter valued at about $127,000. Finally, Allspring Global Investments Holdings LLC increased its position in shares of Tenable by 9.2% during the first 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 during the last quarter. Hedge funds and other institutional investors own 89.06% of the company’s stock.

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.