Tenable (NASDAQ:TENB) Sets New 52-Week Low – Here’s What Happened

Tenable Holdings, Inc. (NASDAQ:TENB)’s share price reached a new 52-week low during mid-day trading 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 research analysts have recently issued reports on TENB shares. Cantor Fitzgerald initiated coverage on shares of Tenable in a research note on Monday, March 31st. They issued an “overweight” rating and a $50.00 price objective on the stock. Morgan Stanley initiated coverage on shares of Tenable in a research report on Tuesday, March 18th. They set an “equal weight” rating and a $40.00 price target on the stock. Barclays boosted their price objective on Tenable from $45.00 to $48.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th. Stephens started coverage on Tenable in a research note on Tuesday. They set an “equal weight” rating and a $42.00 target price for the company. Finally, Stifel Nicolaus lowered Tenable from a “buy” rating to a “hold” rating and dropped their price target for the company from $46.00 to $45.00 in a research note on Friday, January 17th. Seven investment analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Tenable has an average rating of “Moderate Buy” and an average price target of $47.76.

Tenable Stock Down 3.9 %

The company has a market cap of $3.86 billion, a price-to-earnings ratio of -106.83 and a beta of 0.88. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.28 and a current ratio of 1.28. The stock’s fifty day moving average is $38.33 and its two-hundred day moving average is $40.14.

Tenable (NASDAQ:TENB) last posted its 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%. Sell-side analysts predict that Tenable Holdings, Inc. will post 0.12 earnings per share for the current fiscal year.

Insider Transactions at Tenable

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

Institutional Trading of Tenable

Large investors have recently added to or reduced their stakes in the stock. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Tenable by 858.2% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 642 shares of the company’s stock valued at $25,000 after acquiring an additional 575 shares during the period. Kayne Anderson Rudnick Investment Management LLC purchased a new stake in Tenable in the fourth quarter worth $35,000. SBI Securities Co. Ltd. bought a new stake in shares of Tenable in the fourth quarter valued at $38,000. Johnson Financial Group Inc. purchased a new position in shares of Tenable during the 4th quarter valued at $53,000. Finally, Larson Financial Group LLC grew its stake in shares of Tenable by 89.9% during the 4th quarter. Larson Financial Group LLC now owns 1,426 shares of the company’s stock worth $56,000 after acquiring an additional 675 shares during the period. Hedge funds and other institutional investors own 89.06% of the company’s stock.

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.