Tenable’s (TENB) Hold Rating Reaffirmed at Westpark Capital

Westpark Capital reiterated their hold rating on shares of Tenable (NASDAQ:TENB) in a report issued on Wednesday,Benzinga reports.

Several other equities analysts have also recently weighed in on the company. Barclays dropped their price objective on Tenable from $48.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Monday, April 14th. Stephens assumed coverage on shares of Tenable in a report on Tuesday, April 1st. They set an “equal weight” rating and a $42.00 price target on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Tenable from $53.00 to $43.00 and set an “overweight” rating for the company in a research note on Monday, April 28th. Stifel Nicolaus cut their target price on Tenable from $45.00 to $30.00 and set a “hold” rating on the stock in a research note on Wednesday. Finally, Jefferies Financial Group decreased their price target on Tenable from $45.00 to $37.00 and set a “hold” rating for the company in a research report on Monday, March 31st. Seven equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $40.44.

Tenable Stock Performance

TENB opened at $30.77 on Wednesday. The company has a market cap of $3.70 billion, a price-to-earnings ratio of -102.57 and a beta of 0.88. The company’s fifty day moving average price is $34.47 and its two-hundred day moving average price is $38.83. Tenable has a 1-year low of $28.75 and a 1-year high of $49.18. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.88.

Tenable (NASDAQ:TENB) last announced its quarterly earnings results on Tuesday, April 29th. The company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.08. The business had revenue of $239.14 million for the quarter, compared to analysts’ expectations of $234.12 million. Tenable had a negative net margin of 4.03% and a negative return on equity of 2.07%. The firm’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.25 EPS. On average, analysts expect that Tenable will post 0.12 EPS for the current fiscal year.

Insider Activity

In other news, Director Linda Kay Zecher sold 2,500 shares of Tenable stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $37.00, for a total value of $92,500.00. Following the completion of the transaction, the director now directly owns 353 shares in the company, valued at approximately $13,061. The trade was a 87.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Stephen A. Vintz sold 6,681 shares of the stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $38.16, for a total value of $254,946.96. Following the sale, the chief executive officer now directly owns 316,523 shares in the company, valued at $12,078,517.68. This trade represents a 2.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 14,128 shares of company stock valued at $539,256 over the last quarter. Company insiders own 1.50% of the company’s stock.

Institutional Investors Weigh In On Tenable

Hedge funds and other institutional investors have recently modified their holdings of the stock. Norges Bank purchased a new position in Tenable during the fourth quarter valued at approximately $54,950,000. Shapiro Capital Management LLC increased its holdings in shares of Tenable by 647.5% in the fourth quarter. Shapiro Capital Management LLC now owns 1,060,055 shares of the company’s stock worth $41,745,000 after purchasing an additional 918,235 shares during the period. Vanguard Group Inc. increased its holdings in shares of Tenable by 5.3% in the fourth quarter. Vanguard Group Inc. now owns 13,947,023 shares of the company’s stock worth $549,234,000 after purchasing an additional 708,249 shares during the period. Penserra Capital Management LLC raised its position in shares of Tenable by 47.6% in the first quarter. Penserra Capital Management LLC now owns 1,687,589 shares of the company’s stock worth $59,031,000 after buying an additional 544,375 shares in the last quarter. Finally, Assenagon Asset Management S.A. purchased a new position in Tenable during the fourth quarter worth about $15,653,000. 89.06% of the stock is currently owned by 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.