Tenable (NASDAQ:TENB) Trading Up 5.6% – What’s Next?

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

Analyst Ratings Changes

Several analysts have issued reports on the company. Barclays dropped their target price on Tenable from $49.00 to $45.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 31st. Jefferies Financial Group lifted their target price on Tenable from $40.00 to $45.00 and gave the company a “hold” rating in a research note on Thursday, December 19th. Robert W. Baird decreased their price target on shares of Tenable from $53.00 to $50.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. Needham & Company LLC reaffirmed a “buy” rating and issued a $50.00 price objective on shares of Tenable in a research report on Monday, January 6th. Finally, Westpark Capital reissued a “hold” rating on shares of Tenable in a research report on Thursday, October 31st. Six research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $50.63.

Tenable Trading Up 5.1 %

The company has a 50 day simple moving average of $41.12 and a two-hundred day simple 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 cap of $5.12 billion, a PE ratio of -83.52 and a beta of 0.85.

Insider Activity at Tenable

In other news, CFO Stephen A. Vintz sold 2,801 shares of the company’s stock in a transaction on 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 directly owns 281,536 shares of the company’s stock, valued at $11,464,145.92. This 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 value of $100,139.82. Following the completion of the transaction, the chief operating officer now directly owns 37,188 shares of the company’s stock, valued at approximately $1,589,415.12. This trade represents a 5.93 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 21,463 shares of company stock worth $894,042 over the last quarter. Insiders own 4.30% of the company’s stock.

Hedge Funds Weigh In On Tenable

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Readystate Asset Management LP purchased a new position in Tenable in the 3rd quarter valued at $24,660,000. Mackenzie Financial Corp lifted its stake in shares of Tenable by 12.7% in the second quarter. Mackenzie Financial Corp now owns 4,191,935 shares of the company’s stock worth $182,685,000 after buying an additional 471,126 shares in the last quarter. Assenagon Asset Management S.A. purchased a new stake in Tenable during the 4th quarter valued at about $15,653,000. FMR LLC raised its holdings in Tenable by 2.0% in the 3rd quarter. FMR LLC now owns 15,210,927 shares of the company’s stock valued at $616,347,000 after acquiring an additional 305,334 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in Tenable by 28.0% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 920,378 shares of the company’s stock worth $37,294,000 after purchasing an additional 201,366 shares in the last quarter. 89.06% of the stock is owned by hedge funds and other institutional investors.

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.