Scotiabank Raises Tenable (NASDAQ:TENB) Price Target to $45.00

Tenable (NASDAQ:TENB) had its price objective lifted by Scotiabank from $44.00 to $45.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has a “sector perform” rating on the stock. Scotiabank’s price target would suggest a potential upside of 9.86% from the stock’s previous close.

Other equities analysts have also issued research reports about the company. Jefferies Financial Group raised their price target on Tenable from $40.00 to $45.00 and gave the company a “hold” rating in a research note on Thursday, December 19th. Stifel Nicolaus lowered Tenable from a “buy” rating to a “hold” rating and cut their price target for the company from $46.00 to $45.00 in a research note on Friday. Piper Sandler lowered their price target on shares of Tenable from $55.00 to $50.00 and set an “overweight” rating on the stock in a research report on Thursday, October 31st. Needham & Company LLC reaffirmed a “buy” rating and set a $50.00 target price on shares of Tenable in a research note on Monday, January 6th. Finally, Barclays reduced their price objective on shares of Tenable from $49.00 to $45.00 and set an “equal weight” rating on the stock in a report on Thursday, October 31st. Seven equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $50.25.

Tenable Price Performance

Shares of NASDAQ TENB traded up $0.13 during midday trading on Tuesday, reaching $40.96. 345,215 shares of the stock traded hands, compared to its average volume of 892,651. Tenable has a one year low of $35.25 and a one year high of $53.50. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.28 and a quick ratio of 1.28. The company’s 50 day moving average is $41.10 and its 200 day moving average is $41.36. The stock has a market capitalization of $4.92 billion, a PE ratio of -80.33 and a beta of 0.85.

Insider Activity

In related news, CFO Stephen A. Vintz sold 2,801 shares of the company’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $40.72, for a total transaction of $114,056.72. Following the completion of the sale, the chief financial officer now owns 281,536 shares in the company, valued at approximately $11,464,145.92. This represents a 0.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Raymond Jr. Vicks sold 809 shares of the company’s stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $38.52, for a total transaction of $31,162.68. Following the sale, the director now directly owns 8,659 shares of the company’s stock, valued at $333,544.68. The trade was a 8.54 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 21,463 shares of company stock worth $894,042. Corporate insiders own 4.30% of the company’s stock.

Institutional Investors Weigh In On Tenable

A number of institutional investors have recently added to or reduced their stakes in the stock. Covestor Ltd boosted its stake in Tenable by 84.5% during the third quarter. Covestor Ltd now owns 631 shares of the company’s stock valued at $26,000 after buying an additional 289 shares during the last quarter. Larson Financial Group LLC boosted its position in shares of Tenable by 658.6% during the 3rd quarter. Larson Financial Group LLC now owns 751 shares of the company’s stock valued at $30,000 after acquiring an additional 652 shares during the last quarter. Nisa Investment Advisors LLC increased its position in Tenable by 74.1% in the fourth quarter. Nisa Investment Advisors LLC now owns 2,753 shares of the company’s stock worth $108,000 after purchasing an additional 1,172 shares during the last quarter. Truvestments Capital LLC purchased a new stake in Tenable during the third quarter valued at $171,000. Finally, Susquehanna Fundamental Investments LLC purchased a new position in shares of Tenable in the 2nd quarter worth $200,000. 89.06% of the stock is owned by hedge funds and other institutional investors.

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.