Robert W. Baird Trims Tenable (NASDAQ:TENB) Target Price to $50.00

Tenable (NASDAQ:TENB) had its target price reduced by Robert W. Baird from $53.00 to $50.00 in a research report released on Friday morning, Benzinga reports. Robert W. Baird currently has an outperform rating on the stock.

Several other analysts have also recently weighed in on the company. Canaccord Genuity Group lowered their price target on Tenable from $57.00 to $53.00 and set a “buy” rating on the stock in a report on Thursday, August 1st. Wells Fargo & Company dropped their price objective on Tenable from $60.00 to $50.00 and set an “overweight” rating for the company in a research note on Thursday, August 1st. Barclays cut their target price on Tenable from $57.00 to $49.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 1st. Needham & Company LLC restated a “buy” rating and issued a $50.00 price objective on shares of Tenable in a report on Friday, September 13th. Finally, DA Davidson cut Tenable from a “buy” rating to a “neutral” rating and lowered their target price for the company from $56.00 to $40.00 in a research note on Thursday, August 1st. Five investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $51.38.

Tenable Trading Up 1.7 %

Shares of Tenable stock opened at $41.63 on Friday. The stock has a 50 day moving average price of $40.87 and a two-hundred day moving average price of $42.38. Tenable has a 52 week low of $33.85 and a 52 week high of $53.50. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.21 and a current ratio of 1.21. The stock has a market capitalization of $4.95 billion, a PE ratio of -71.78 and a beta of 0.83.

Tenable (NASDAQ:TENB) last announced its earnings results on Wednesday, July 31st. The company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.03. The firm had revenue of $221.24 million for the quarter, compared to the consensus estimate of $218.41 million. Tenable had a negative return on equity of 7.63% and a negative net margin of 7.77%. As a group, equities analysts anticipate that Tenable will post -0.06 earnings per share for the current fiscal year.

Insider Buying and Selling at Tenable

In related news, COO Mark C. Thurmond sold 3,383 shares of Tenable stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $41.66, for a total transaction of $140,935.78. Following the completion of the sale, the chief operating officer now owns 34,079 shares in the company, valued at approximately $1,419,731.14. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Tenable news, CEO Amit Yoran sold 5,673 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $41.75, for a total transaction of $236,847.75. Following the completion of the sale, the chief executive officer now owns 39,309 shares in the company, valued at $1,641,150.75. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Mark C. Thurmond sold 3,383 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $41.66, for a total transaction of $140,935.78. Following the completion of the sale, the chief operating officer now directly owns 34,079 shares of the company’s stock, valued at $1,419,731.14. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 52,469 shares of company stock valued at $2,429,076. Insiders own 4.30% of the company’s stock.

Institutional Trading of Tenable

Several hedge funds have recently made changes to their positions in the stock. Griffin Asset Management Inc. acquired a new position in Tenable during the 1st quarter valued at about $322,000. Diversified Trust Co raised its holdings in shares of Tenable by 85.0% during the first quarter. Diversified Trust Co now owns 12,766 shares of the company’s stock valued at $631,000 after acquiring an additional 5,865 shares during the period. Claro Advisors LLC purchased a new stake in shares of Tenable in the 1st quarter valued at approximately $331,000. Allspring Global Investments Holdings LLC lifted its position in shares of Tenable by 9.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,708 shares of the company’s stock valued at $183,000 after acquiring an additional 312 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its stake in Tenable by 18.6% in the 1st quarter. Principal Financial Group Inc. now owns 15,654 shares of the company’s stock worth $774,000 after purchasing an additional 2,459 shares during the period. Institutional investors 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.