Tenable (NASDAQ:TENB) Price Target Cut to $61.00 by Analysts at The Goldman Sachs Group

Tenable (NASDAQ:TENBGet Rating) had its price target cut by The Goldman Sachs Group from $71.00 to $61.00 in a research note issued to investors on Tuesday. They currently have a buy rating on the stock.

TENB has been the subject of a number of other research reports. BTIG Research reduced their target price on shares of Tenable from $73.00 to $58.00 and set an outperform rating for the company in a research report on Wednesday, July 27th. Wells Fargo & Company dropped their price target on Tenable from $57.00 to $50.00 and set an overweight rating for the company in a research note on Wednesday, July 27th. Piper Sandler dropped their price target on Tenable from $72.00 to $65.00 in a research note on Wednesday, July 13th. Canaccord Genuity Group dropped their price target on Tenable from $65.00 to $56.00 in a research note on Wednesday, July 27th. Finally, Barclays dropped their price target on Tenable from $58.00 to $45.00 and set an overweight rating for the company in a research note on Wednesday, July 27th. Sixteen investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of Buy and a consensus price target of $56.87.

Tenable Trading Up 1.9 %

Shares of Tenable stock opened at $38.94 on Tuesday. The firm has a 50-day moving average of $47.34 and a 200-day moving average of $50.73. The stock has a market cap of $4.31 billion, a PE ratio of -54.08 and a beta of 1.35. Tenable has a 52-week low of $36.67 and a 52-week high of $63.61. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.56 and a current ratio of 1.56.

Insider Activity

In other news, General Counsel Stephen A. Riddick sold 1,534 shares of the company’s stock in a transaction that occurred on Wednesday, May 18th. The stock was sold at an average price of $43.85, for a total value of $67,265.90. Following the completion of the transaction, the general counsel now owns 43,800 shares of the company’s stock, valued at $1,920,630. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Amit Yoran sold 1,400 shares of the company’s stock in a transaction that occurred on Tuesday, May 17th. The stock was sold at an average price of $47.68, for a total value of $66,752.00. Following the sale, the chief executive officer now directly owns 77,014 shares in the company, valued at $3,672,027.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Stephen A. Riddick sold 1,534 shares of the company’s stock in a transaction that occurred on Wednesday, May 18th. The shares were sold at an average price of $43.85, for a total value of $67,265.90. Following the completion of the sale, the general counsel now owns 43,800 shares in the company, valued at $1,920,630. The disclosure for this sale can be found here. Insiders sold 90,572 shares of company stock valued at $4,268,456 over the last quarter. 4.80% of the stock is owned by company insiders.

Institutional Trading of Tenable

Several institutional investors have recently added to or reduced their stakes in TENB. Parkside Financial Bank & Trust bought a new position in shares of Tenable during the 1st quarter worth approximately $25,000. KRS Capital Management LLC bought a new position in shares of Tenable during the 4th quarter worth approximately $33,000. Evoke Wealth LLC boosted its holdings in shares of Tenable by 1,220.3% during the 4th quarter. Evoke Wealth LLC now owns 779 shares of the company’s stock worth $43,000 after buying an additional 720 shares in the last quarter. Exane Derivatives bought a new position in shares of Tenable during the 1st quarter worth approximately $72,000. Finally, Point72 Hong Kong Ltd bought a new position in shares of Tenable during the 4th quarter worth approximately $80,000. 83.39% of the stock is currently owned by institutional investors.

Tenable Company Profile

(Get Rating)

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.io, a cloud-delivered software as a service that provides organizations with a risk-based view of traditional and modern attack surfaces; Tenable.cs, a cloud-native application platform that enables organizations to programmatically detect and fix cloud infrastructure misconfigurations; Tenable.io WAS, which provides scanning for modern web applications; and Tenable.ep, an unified platform that helps organizations identify, assess, and accurately prioritize cyber risks across the entire attack surface.

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