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

Tenable Holdings, Inc. (NASDAQ:TENB) reached a new 52-week low 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.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on TENB shares. Scotiabank raised their price objective on shares of Tenable from $44.00 to $45.00 and gave the stock a “sector perform” rating in a research note on Tuesday, January 21st. Needham & Company LLC reissued a “buy” rating and issued a $50.00 target price on shares of Tenable in a research note on Thursday, February 6th. Jefferies Financial Group dropped their price objective on shares of Tenable from $45.00 to $37.00 and set a “hold” rating on the stock in a research note on Monday, March 31st. Stifel Nicolaus lowered Tenable from a “buy” rating to a “hold” rating and lowered their price objective for the company from $46.00 to $45.00 in a research note on Friday, January 17th. Finally, Barclays reduced their target price on Tenable from $48.00 to $40.00 and set an “equal weight” rating on the stock in a report on Monday, April 14th. Seven analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Tenable presently has an average rating of “Moderate Buy” and an average target price of $46.71.

Tenable Stock Down 3.6 %

The stock has a 50 day simple moving average of $35.93 and a 200 day simple moving average of $39.49. The firm has a market capitalization of $3.64 billion, a PE ratio of -101.07 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 announced its quarterly earnings data on Wednesday, February 5th. The company reported $0.08 earnings per share (EPS) 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%. As a group, sell-side analysts forecast that Tenable Holdings, Inc. will post 0.12 earnings per share for the current year.

Insider Activity at Tenable

In related news, CEO Stephen A. Vintz sold 6,681 shares of the stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $38.16, for a total value of $254,946.96. Following the completion of the sale, the chief executive officer now owns 316,523 shares of the company’s stock, valued at approximately $12,078,517.68. This trade represents a 2.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Mark C. Thurmond sold 3,606 shares of the stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $38.48, for a total value of $138,758.88. Following the completion of the transaction, the chief executive officer now owns 74,295 shares of the company’s stock, valued at $2,858,871.60. The trade was a 4.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 14,128 shares of company stock valued at $539,256 over the last ninety days. 1.50% of the stock is owned by company insiders.

Institutional Trading of Tenable

Several hedge funds have recently made changes to their positions in TENB. Byrne Asset Management LLC increased its holdings 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 buying an additional 727 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Tenable during the 1st quarter valued at $1,170,000. Harbor Capital Advisors Inc. increased its position in Tenable by 4.5% during the 1st quarter. Harbor Capital Advisors Inc. now owns 259,293 shares of the company’s stock worth $9,070,000 after purchasing an additional 11,176 shares in the last quarter. Rhumbline Advisers lifted its stake in shares of Tenable by 3.2% during the first quarter. Rhumbline Advisers now owns 171,023 shares of the company’s stock valued at $5,982,000 after buying an additional 5,373 shares during the period. Finally, IVC Wealth Advisors LLC acquired a new stake in shares of Tenable during the first quarter worth $237,000. 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.