Morgan Stanley Reaffirms “Equal Weight” Rating for Tenable (NASDAQ:TENB)

Morgan Stanley reaffirmed their equal weight rating on shares of Tenable (NASDAQ:TENB) in a report issued on Monday, Marketbeat.com reports. The firm currently has a $47.00 price target on the stock, down from their prior price target of $50.00.

TENB has been the topic of several other reports. Westpark Capital reiterated a “hold” rating on shares of Tenable in a report on Thursday, October 31st. Robert W. Baird dropped their price objective on shares of Tenable from $53.00 to $50.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Jefferies Financial Group initiated coverage on shares of Tenable in a research note on Wednesday, October 16th. They issued a “hold” rating and a $45.00 target price for the company. Barclays dropped their price target on shares of Tenable from $49.00 to $45.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 31st. Finally, Piper Sandler cut their price objective on shares of Tenable from $55.00 to $50.00 and set an “overweight” rating on the stock in a report on Thursday, October 31st. Six analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $50.63.

Tenable Trading Up 0.7 %

NASDAQ TENB opened at $42.73 on Monday. The firm has a market capitalization of $5.13 billion, a price-to-earnings ratio of -83.78 and a beta of 0.83. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.28 and a current ratio of 1.28. Tenable has a one year low of $35.25 and a one year high of $53.50. The company’s 50 day moving average price is $41.39 and its 200 day moving average price is $41.61.

Insider Transactions at Tenable

In related news, CFO Stephen A. Vintz sold 2,801 shares of the stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $40.72, for a total value of $114,056.72. Following the sale, the chief financial officer now owns 281,536 shares of the company’s stock, valued at $11,464,145.92. This trade represents a 0.99 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Mark C. Thurmond sold 2,343 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $42.74, for a total transaction of $100,139.82. Following the transaction, the chief operating officer now directly owns 37,188 shares of the company’s stock, valued at $1,589,415.12. The trade was a 5.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 20,654 shares of company stock worth $862,879. 4.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of TENB. Covestor Ltd increased its stake in shares of Tenable by 84.5% during the third quarter. Covestor Ltd now owns 631 shares of the company’s stock valued at $26,000 after acquiring an additional 289 shares during the period. Larson Financial Group LLC increased 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 purchasing an additional 652 shares during the period. Quest Partners LLC bought a new stake in shares of Tenable in the 2nd quarter worth $40,000. Truvestments Capital LLC acquired a new stake in shares of Tenable in the third quarter valued at $171,000. Finally, Susquehanna Fundamental Investments LLC bought a new position in Tenable during the second quarter valued at about $200,000. 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.