Tenable (NASDAQ:TENB) Sets New 12-Month Low – Here’s What Happened

Tenable Holdings, Inc. (NASDAQ:TENB)’s stock price hit a new 52-week low during trading on Monday . The stock traded as low as $30.48 and last traded at $30.51, with a volume of 102580 shares trading hands. The stock had previously closed at $31.44.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Morgan Stanley reduced their price objective on Tenable from $40.00 to $30.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 16th. Stifel Nicolaus lowered Tenable from a “buy” rating to a “hold” rating and reduced their price target for the stock from $46.00 to $45.00 in a research report on Friday, January 17th. Truist Financial lowered their price target on Tenable from $48.00 to $45.00 and set a “buy” rating on the stock in a report on Monday, March 31st. Stephens assumed coverage on shares of Tenable in a report on Tuesday, April 1st. They issued an “equal weight” rating and a $42.00 price objective for the company. Finally, Scotiabank increased their target price on shares of Tenable from $44.00 to $45.00 and gave the company a “sector perform” rating in a research report on Tuesday, January 21st. Seven analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $46.71.

Tenable Price Performance

The stock has a 50-day moving average of $35.58 and a two-hundred day moving average of $39.35. The firm has a market cap of $3.72 billion, a price-to-earnings ratio of -103.30 and a beta of 0.88. 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 released its earnings results on Wednesday, February 5th. The company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.26). Tenable had a negative return on equity of 2.07% and a negative net margin of 4.03%. On average, analysts anticipate that Tenable Holdings, Inc. will post 0.12 EPS for the current year.

Insider Activity at Tenable

In other news, Director Linda Kay Zecher sold 2,500 shares of the company’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $37.00, for a total value of $92,500.00. Following the transaction, the director now owns 353 shares in the company, valued at $13,061. This represents a 87.63 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Mark C. Thurmond sold 3,606 shares of the firm’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $38.48, for a total transaction of $138,758.88. Following the sale, the chief executive officer now owns 74,295 shares of the company’s stock, valued at approximately $2,858,871.60. This represents a 4.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 14,128 shares of company stock valued at $539,256. Company insiders own 1.50% of the company’s stock.

Institutional Trading of Tenable

Several hedge funds and other institutional investors have recently modified their holdings of TENB. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in Tenable by 858.2% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 642 shares of the company’s stock worth $25,000 after purchasing an additional 575 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC bought a new stake in shares of Tenable in the 4th quarter valued at approximately $35,000. SBI Securities Co. Ltd. acquired a new position in Tenable in the fourth quarter worth approximately $38,000. Johnson Financial Group Inc. bought a new position in Tenable during the fourth quarter valued at approximately $53,000. Finally, Byrne Asset Management LLC lifted its stake in Tenable by 115.4% in the first quarter. Byrne Asset Management LLC now owns 1,357 shares of the company’s stock valued at $47,000 after acquiring an additional 727 shares during the last quarter. 89.06% of the stock is currently owned by hedge funds and other institutional investors.

About Tenable

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.