Tenable (NASDAQ:TENB) Reaches New 1-Year Low – Here’s What Happened

Shares of Tenable Holdings, Inc. (NASDAQ:TENB) reached a new 52-week low during mid-day trading on Friday . The stock traded as low as $35.08 and last traded at $35.12, with a volume of 119126 shares changing hands. The stock had previously closed at $35.96.

Wall Street Analyst Weigh In

TENB has been the subject of a number of research reports. Barclays lifted their price objective on shares of Tenable from $45.00 to $48.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. Scotiabank lifted their price target on shares of Tenable from $44.00 to $45.00 and gave the company a “sector perform” rating in a report on Tuesday, January 21st. Stifel Nicolaus cut shares of Tenable from a “buy” rating to a “hold” rating and cut their target price for the stock from $46.00 to $45.00 in a report on Friday, January 17th. Morgan Stanley initiated coverage on Tenable in a research note on Tuesday, March 18th. They issued an “equal weight” rating and a $40.00 target price for the company. Finally, Jefferies Financial Group increased their price target on Tenable from $40.00 to $45.00 and gave the stock a “hold” rating in a research report on Thursday, December 19th. Seven analysts have rated the stock with a hold rating, eight 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 an average price target of $49.20.

Tenable Stock Down 3.1 %

The firm has a market cap of $4.19 billion, a price-to-earnings ratio of -116.23 and a beta of 0.87. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.28 and a quick ratio of 1.28. The firm’s fifty day moving average is $39.27 and its two-hundred day moving average is $40.35.

Tenable (NASDAQ:TENB) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.26). Tenable had a negative net margin of 4.03% and a negative return on equity of 2.07%. On average, sell-side analysts expect that Tenable Holdings, Inc. will post 0.12 EPS for the current fiscal year.

Insider Activity

In related news, Director Linda Kay Zecher sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $37.00, for a total transaction of $92,500.00. Following the completion of the sale, the director now directly owns 353 shares in the company, valued at approximately $13,061. This trade represents a 87.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Raymond Jr. Vicks sold 809 shares of Tenable stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $38.52, for a total transaction of $31,162.68. Following the completion of the transaction, the director now owns 8,659 shares in the company, valued at approximately $333,544.68. This trade represents a 8.54 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 14,937 shares of company stock worth $570,418. 4.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Tenable

A number of hedge funds have recently modified their holdings of the stock. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Tenable by 858.2% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 642 shares of the company’s stock valued at $25,000 after purchasing an additional 575 shares during the last quarter. Larson Financial Group LLC lifted its stake in Tenable by 658.6% during the third quarter. Larson Financial Group LLC now owns 751 shares of the company’s stock valued at $30,000 after buying an additional 652 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC acquired a new position in shares of Tenable in the fourth quarter worth about $35,000. SBI Securities Co. Ltd. purchased a new position in shares of Tenable in the fourth quarter worth approximately $38,000. Finally, Johnson Financial Group Inc. acquired a new stake in shares of Tenable during the fourth quarter valued at approximately $53,000. 89.06% of the stock is currently owned by institutional investors and hedge funds.

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.