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

Shares of Tenable Holdings, Inc. (NASDAQ:TENB) hit 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. The stock had previously closed at $35.16.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Stephens assumed coverage on Tenable in a research report on Tuesday. They set an “equal weight” rating and a $42.00 price objective on the stock. Stifel Nicolaus downgraded shares of Tenable from a “buy” rating to a “hold” rating and decreased their price target for the stock from $46.00 to $45.00 in a research note on Friday, January 17th. Truist Financial lowered their price objective on shares of Tenable from $48.00 to $45.00 and set a “buy” rating for the company in a report on Monday. Jefferies Financial Group reduced their target price on shares of Tenable from $45.00 to $37.00 and set a “hold” rating on the stock in a report on Monday. Finally, Cantor Fitzgerald began coverage on shares of Tenable in a research note on Monday. They issued an “overweight” rating and a $50.00 price target for the company. Seven research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, Tenable has a consensus rating of “Moderate Buy” and an average target price of $47.76.

Tenable Trading Down 5.1 %

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 has a market capitalization of $4.01 billion, a P/E ratio of -111.17 and a beta of 0.87. The stock has a 50-day moving average price of $38.77 and a two-hundred day moving average price of $40.24.

Tenable (NASDAQ:TENB) last released its quarterly 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 net margin of 4.03% and a negative return on equity of 2.07%. On average, research analysts forecast that Tenable Holdings, Inc. will post 0.12 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Raymond Jr. Vicks sold 809 shares of the company’s stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $38.52, for a total value of $31,162.68. Following the sale, the director now directly owns 8,659 shares of the company’s stock, valued at $333,544.68. This represents a 8.54 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Linda Kay Zecher sold 2,500 shares of Tenable stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $37.00, for a total transaction of $92,500.00. Following the transaction, the director now directly owns 353 shares of the company’s stock, valued at approximately $13,061. This trade represents a 87.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 14,937 shares of company stock worth $570,418 over the last three months. Company insiders own 4.30% of the company’s stock.

Institutional Trading of Tenable

Hedge funds and other institutional investors have recently made changes to their positions in the stock. PharVision Advisers LLC purchased a new stake in shares of Tenable in the fourth quarter worth $442,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Tenable by 20.2% during the 4th 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 acquiring an additional 51,989 shares during the last quarter. Voloridge Investment Management LLC bought a new stake in shares of Tenable in the fourth quarter worth approximately $923,000. Vident Advisory LLC raised its holdings in shares of Tenable by 23.3% during the fourth quarter. Vident Advisory LLC now owns 92,381 shares of the company’s stock valued at $3,638,000 after purchasing an additional 17,458 shares during the last quarter. Finally, Twinbeech Capital LP bought a new position in Tenable during the fourth quarter valued at approximately $2,554,000. Hedge funds and other institutional investors 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.