Tenable (NASDAQ:TENB) Sets New 52-Week Low on Insider Selling

Tenable Holdings, Inc. (NASDAQ:TENB) shares hit a new 52-week low on Thursday following insider selling activity. The company traded as low as $35.25 and last traded at $35.25, with a volume of 964277 shares changing hands. The stock had previously closed at $36.20.

Specifically, Director Linda Kay Zecher sold 2,500 shares of the business’s stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $37.00, for a total transaction of $92,500.00. Following the completion of the transaction, the director now owns 353 shares in the company, valued at approximately $13,061. The trade was a 87.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Barclays upped their price objective on shares of Tenable from $45.00 to $48.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th. Scotiabank upped their price objective on shares of Tenable from $44.00 to $45.00 and gave the company a “sector perform” rating in a research note on Tuesday, January 21st. Morgan Stanley restated an “equal weight” rating and issued a $47.00 price objective (down previously from $50.00) on shares of Tenable in a research note on Monday, December 2nd. Jefferies Financial Group upped their price objective on shares of Tenable from $40.00 to $45.00 and gave the company a “hold” rating in a research note on Thursday, December 19th. Finally, Stifel Nicolaus downgraded shares of Tenable from a “buy” rating to a “hold” rating and decreased their price objective 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, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $49.67.

Tenable Stock Up 2.3 %

The stock has a market capitalization of $4.34 billion, a PE ratio of -120.20 and a beta of 0.87. The firm’s fifty day moving average is $39.81 and its 200-day moving average is $40.60. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.88.

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

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Covestor Ltd increased its holdings in Tenable by 84.5% in the third quarter. Covestor Ltd now owns 631 shares of the company’s stock valued at $26,000 after buying an additional 289 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Tenable by 858.2% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 642 shares of the company’s stock valued at $25,000 after buying an additional 575 shares in the last quarter. Larson Financial Group LLC increased its holdings in Tenable by 658.6% in the third quarter. Larson Financial Group LLC now owns 751 shares of the company’s stock valued at $30,000 after buying an additional 652 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC purchased a new position in Tenable in the fourth quarter valued at about $35,000. Finally, SBI Securities Co. Ltd. purchased a new position in Tenable in the fourth quarter valued at about $38,000. 89.06% of the stock is 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.