Tenable (NASDAQ:TENB) Price Target Cut to $24.00 by Analysts at Jefferies Financial Group

Tenable (NASDAQ:TENB) had its target price decreased by Jefferies Financial Group from $29.00 to $24.00 in a report released on Monday morning,Benzinga reports. Jefferies Financial Group currently has a hold rating on the stock.

Other research analysts have also issued reports about the stock. Wall Street Zen raised shares of Tenable from a “buy” rating to a “strong-buy” rating in a research note on Sunday, January 25th. Cantor Fitzgerald reiterated an “overweight” rating and set a $30.00 price target on shares of Tenable in a report on Friday. Canaccord Genuity Group cut their price target on shares of Tenable from $45.00 to $40.00 and set a “buy” rating on the stock in a report on Thursday, October 30th. DA Davidson reduced their price objective on shares of Tenable from $32.00 to $25.00 and set a “neutral” rating for the company in a research report on Friday. Finally, Barclays decreased their price objective on shares of Tenable from $33.00 to $28.00 and set an “equal weight” rating for the company in a research note on Monday, January 5th. Ten research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $34.41.

Tenable Price Performance

Shares of NASDAQ:TENB opened at $22.02 on Monday. Tenable has a twelve month low of $21.26 and a twelve month high of $43.68. The stock’s 50 day moving average is $24.19 and its 200-day moving average is $27.79. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.03. The firm has a market capitalization of $2.63 billion, a price-to-earnings ratio of -81.56 and a beta of 0.64.

Insiders Place Their Bets

In other Tenable news, Director A Brooke Seawell sold 115,000 shares of the business’s stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $24.82, for a total value of $2,854,300.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Tenable

A number of hedge funds have recently modified their holdings of the stock. Horizon Investments LLC raised its position in shares of Tenable by 123.6% in the fourth quarter. Horizon Investments LLC now owns 3,434 shares of the company’s stock valued at $81,000 after purchasing an additional 1,898 shares during the period. State of New Jersey Common Pension Fund D boosted its holdings in Tenable by 18.2% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 83,599 shares of the company’s stock worth $1,967,000 after buying an additional 12,885 shares during the period. UBS Group AG grew its stake in Tenable by 327.6% in the 4th quarter. UBS Group AG now owns 3,092,577 shares of the company’s stock valued at $72,768,000 after buying an additional 2,369,402 shares in the last quarter. Vanguard Group Inc. raised its holdings in Tenable by 3.1% during the 4th quarter. Vanguard Group Inc. now owns 15,427,510 shares of the company’s stock valued at $363,009,000 after acquiring an additional 465,039 shares during the period. Finally, Graphene Investments SAS lifted its position in shares of Tenable by 19.1% during the fourth quarter. Graphene Investments SAS now owns 129,200 shares of the company’s stock worth $3,040,000 after acquiring an additional 20,700 shares in the last quarter. Institutional investors own 89.06% of the company’s stock.

About Tenable

Tenable Holdings, Inc is a global cybersecurity company specializing in vulnerability management and continuous threat exposure assessment. Headquartered in Columbia, Maryland, Tenable was founded in 2002 by Ron Gula and Jack Huffard to address the growing need for proactive network security solutions. Over the years, the company has evolved from a pioneer in open-source vulnerability scanning to a leading provider of comprehensive security platforms that help organizations identify, investigate and prioritize cyber risks across on-premises, cloud and operational technology environments.

At the core of Tenable’s product suite is Nessus, one of the industry’s most widely adopted vulnerability scanners.