Tenable (NASDAQ:TENB) Reaches New 52-Week Low – Here’s Why

Tenable Holdings, Inc. (NASDAQ:TENB) shares hit a new 52-week low on Friday . The company 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

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

Tenable Price Performance

The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.88. The company’s fifty day moving average is $39.27 and its 200 day moving average is $40.35. The stock has a market cap of $4.19 billion, a PE ratio of -116.23 and a beta of 0.87.

Tenable (NASDAQ:TENB) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.26). Tenable had a negative return on equity of 2.07% and a negative net margin of 4.03%. As a group, sell-side analysts anticipate that Tenable Holdings, Inc. will post 0.12 earnings per share for the current fiscal year.

Insider Activity

In other Tenable news, CEO Stephen A. Vintz sold 6,681 shares of the business’s stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $38.16, for a total value of $254,946.96. Following the transaction, the chief executive officer now owns 316,523 shares in the company, valued at $12,078,517.68. The trade was a 2.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Raymond Jr. Vicks sold 809 shares of the firm’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 owns 8,659 shares of the company’s stock, valued at $333,544.68. This represents a 8.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 14,937 shares of company stock worth $570,418 over the last 90 days. Company insiders own 4.30% of the company’s stock.

Hedge Funds Weigh In On Tenable

A number of institutional investors have recently made changes to their positions in TENB. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Tenable by 858.2% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 642 shares of the company’s stock worth $25,000 after buying an additional 575 shares during the last quarter. Larson Financial Group LLC increased its position in shares of Tenable by 658.6% in the 3rd quarter. Larson Financial Group LLC now owns 751 shares of the company’s stock worth $30,000 after purchasing an additional 652 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC acquired a new stake in shares of Tenable in the 4th quarter valued at about $35,000. SBI Securities Co. Ltd. bought a new position in shares of Tenable during the fourth quarter worth about $38,000. Finally, Johnson Financial Group Inc. acquired a new position in Tenable in the fourth quarter worth about $53,000. 89.06% of the stock is owned by institutional investors and hedge funds.

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.