Tenable (NASDAQ:TENB) Stock Price Up 5.6% – Here’s Why

Tenable Holdings, Inc. (NASDAQ:TENB) shares shot up 5.6% during mid-day trading on Thursday . The stock traded as high as $42.85 and last traded at $42.78. 528,459 shares traded hands during mid-day trading, a decline of 35% from the average session volume of 808,137 shares. The stock had previously closed at $40.52.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on TENB shares. Westpark Capital reaffirmed a “hold” rating on shares of Tenable in a research report on Thursday, October 31st. Morgan Stanley reaffirmed an “equal weight” rating and set a $47.00 price target (down previously from $50.00) on shares of Tenable in a research report on Monday, December 2nd. Stifel Nicolaus cut shares of Tenable from a “buy” rating to a “hold” rating and decreased their price target for the stock from $46.00 to $45.00 in a research note on Friday. Robert W. Baird reduced their target price on shares of Tenable from $53.00 to $50.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $50.00 target price on shares of Tenable in a research report on Monday, January 6th. Seven investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $50.19.

Tenable Price Performance

The business has a fifty day moving average of $41.11 and a two-hundred day moving average of $41.41. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.28 and a current ratio of 1.28. The firm has a market capitalization of $4.91 billion, a price-to-earnings ratio of -80.06 and a beta of 0.85.

Insiders Place Their Bets

In other Tenable news, COO Mark C. Thurmond sold 2,343 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $42.74, for a total value 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. This represents a 5.93 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Raymond Jr. Vicks sold 809 shares of the business’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 completion of the sale, the director now directly owns 8,659 shares of the company’s stock, valued at approximately $333,544.68. The trade was a 8.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 21,463 shares of company stock valued at $894,042 over the last ninety days. 4.30% of the stock is currently owned by company insiders.

Institutional Trading of Tenable

Hedge funds and other institutional investors have recently bought and sold shares of the business. Quest Partners LLC acquired a new position in shares of Tenable during the 2nd quarter worth approximately $40,000. Dimensional Fund Advisors LP boosted its stake in shares of Tenable by 1.3% in the second quarter. Dimensional Fund Advisors LP now owns 68,192 shares of the company’s stock valued at $2,972,000 after buying an additional 858 shares during the period. Renaissance Technologies LLC bought a new position in Tenable during the 2nd quarter worth $7,740,000. Hsbc Holdings PLC raised its holdings in Tenable by 43.0% in the 2nd quarter. Hsbc Holdings PLC now owns 24,127 shares of the company’s stock valued at $1,045,000 after acquiring an additional 7,254 shares in the last quarter. Finally, Seven Eight Capital LP acquired a new position in Tenable in the 2nd quarter valued at $672,000. Institutional investors and hedge funds 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.