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

Shares of Tenable Holdings, Inc. (NASDAQ:TENB) hit a new 52-week low on Thursday . The stock traded as low as $32.96 and last traded at $33.36, with a volume of 207840 shares traded. The stock had previously closed at $35.16.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Cantor Fitzgerald assumed coverage on shares of Tenable in a research note on Monday. They issued an “overweight” rating and a $50.00 price target on the stock. Stephens initiated coverage on shares of Tenable in a report on Tuesday. They set an “equal weight” rating and a $42.00 price target on the stock. Morgan Stanley started coverage on Tenable in a research note on Tuesday, March 18th. They issued an “equal weight” rating and a $40.00 price target for the company. Truist Financial decreased their target price on shares of Tenable from $48.00 to $45.00 and set a “buy” rating for the company in a research report on Monday. Finally, Scotiabank upped their price objective on shares of Tenable from $44.00 to $45.00 and gave the company a “sector perform” rating in a research note on Tuesday, January 21st. Seven research analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $47.76.

Tenable Stock Down 5.1 %

The firm has a market capitalization of $4.01 billion, a PE ratio of -111.17 and a beta of 0.87. The stock has a 50-day simple moving average of $38.77 and a 200-day simple moving average of $40.24. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.88.

Tenable (NASDAQ:TENB) last released its quarterly earnings data on Wednesday, February 5th. The company reported $0.08 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%. Analysts forecast that Tenable Holdings, Inc. will post 0.12 EPS for the current year.

Insider Activity

In other news, Director Raymond Jr. Vicks sold 809 shares of the company’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $38.52, for a total value of $31,162.68. Following the transaction, the director now owns 8,659 shares of the company’s stock, valued at approximately $333,544.68. This represents a 8.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Linda Kay Zecher sold 2,500 shares of the 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 sale, the director now owns 353 shares in the company, valued at $13,061. This trade represents a 87.63 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 14,937 shares of company stock worth $570,418 over the last ninety days. Company insiders own 4.30% of the company’s stock.

Hedge Funds Weigh In On Tenable

Institutional investors have recently added to or reduced their stakes in the business. PharVision Advisers LLC purchased a new position in shares of Tenable during the fourth quarter worth about $442,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Tenable by 20.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 309,575 shares of the company’s stock valued at $12,191,000 after purchasing an additional 51,989 shares during the last quarter. Voloridge Investment Management LLC purchased a new position in Tenable in the 4th quarter worth approximately $923,000. Vident Advisory LLC increased its holdings in shares of Tenable by 23.3% in the 4th quarter. Vident Advisory LLC now owns 92,381 shares of the company’s stock worth $3,638,000 after buying an additional 17,458 shares during the last quarter. Finally, Twinbeech Capital LP bought a new position in shares of Tenable in the 4th quarter worth $2,554,000. 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.