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

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

Wall Street Analyst Weigh In

A number of brokerages have weighed in on TENB. Jefferies Financial Group upped their price target on Tenable from $40.00 to $45.00 and gave the company a “hold” rating in a research report on Thursday, December 19th. Scotiabank increased their target price on shares of Tenable from $44.00 to $45.00 and gave the stock a “sector perform” rating in a research report on Tuesday, January 21st. Stifel Nicolaus cut shares of Tenable from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $46.00 to $45.00 in a research note on Friday, January 17th. Needham & Company LLC reiterated a “buy” rating and issued a $50.00 target price on shares of Tenable in a research note on Thursday, February 6th. Finally, Morgan Stanley assumed coverage on Tenable in a research report on Tuesday, March 18th. They set an “equal weight” rating and a $40.00 price target on the stock. Seven research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Tenable currently has an average rating of “Moderate Buy” and an average target price of $49.20.

Tenable Stock Performance

The firm’s 50-day moving average price is $39.15 and its 200 day moving average price is $40.33. The company has a market cap of $4.20 billion, a price-to-earnings ratio of -116.47 and a beta of 0.87. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.28 and a current ratio of 1.28.

Tenable (NASDAQ:TENB) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates 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 anticipate that Tenable Holdings, Inc. will post 0.12 EPS for the current year.

Insiders Place Their Bets

In other Tenable news, Director Linda Kay Zecher sold 2,500 shares of Tenable 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 sale, the director now owns 353 shares of the company’s stock, valued at $13,061. This trade represents a 87.63 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Mark C. Thurmond sold 1,341 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $39.56, for a total value of $53,049.96. Following the transaction, the chief executive officer now directly owns 41,266 shares of the company’s stock, valued at approximately $1,632,482.96. This trade represents a 3.15 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 14,937 shares of company stock worth $570,418 over the last ninety days. 4.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Tenable

Hedge funds and other institutional investors have recently modified their holdings of the stock. State Street Corp grew its stake in Tenable by 2.6% in the third quarter. State Street Corp now owns 2,913,580 shares of the company’s stock valued at $118,058,000 after purchasing an additional 73,293 shares in the last quarter. Geode Capital Management LLC raised its position in Tenable by 1.2% during the third quarter. Geode Capital Management LLC now owns 2,794,485 shares of the company’s stock worth $113,255,000 after acquiring an additional 33,303 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in Tenable in the fourth quarter valued at $15,653,000. Nordea Investment Management AB grew its position in shares of Tenable by 10.4% in the 4th quarter. Nordea Investment Management AB now owns 267,519 shares of the company’s stock valued at $10,489,000 after acquiring an additional 25,247 shares during the period. Finally, Barclays PLC increased its stake in shares of Tenable by 31.9% during the 3rd quarter. Barclays PLC now owns 731,626 shares of the company’s stock worth $29,646,000 after purchasing an additional 177,048 shares during the last quarter. Institutional investors and hedge funds own 89.06% of the company’s stock.

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.