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

by · The Cerbat Gem

Tenable Holdings, Inc. (NASDAQ:TENB – Get Free Report)’s share price hit a new 52-week low during trading on Thursday . The stock traded as low as $35.25 and last traded at $35.25, with a volume of 964277 shares. The stock had previously closed at $36.20.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on TENB. Stifel Nicolaus cut Tenable from a “buy” rating to a “hold” rating and decreased their target price for the company from $46.00 to $45.00 in a research note on Friday, January 17th. Scotiabank increased their target price on 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 reaffirmed a “buy” rating and issued a $50.00 price target on shares of Tenable in a research note on Thursday, February 6th. Morgan Stanley reissued an “equal weight” rating and set a $47.00 price objective (down previously from $50.00) on shares of Tenable in a research report on Monday, December 2nd. Finally, Barclays boosted their price objective on shares of Tenable from $45.00 to $48.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. Seven analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $49.67.

View Our Latest Report on TENB

Tenable Trading Down 2.6 %

The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.88. The business has a 50 day moving average price of $39.95 and a 200-day moving average price of $40.68. The company has a market cap of $4.24 billion, a P/E ratio of -117.50 and a beta of 0.87.

Tenable (NASDAQ:TENB – Get Free Report) last announced its quarterly earnings results 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 net margin of 4.03% and a negative return on equity of 2.07%. Analysts forecast that Tenable Holdings, Inc. will post 0.12 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Tenable news, Director Raymond Jr. Vicks sold 809 shares of Tenable stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $38.52, for a total transaction of $31,162.68. Following the completion of the transaction, the director now directly owns 8,659 shares of the company’s stock, valued at $333,544.68. The trade was a 8.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Mark C. Thurmond sold 3,606 shares of the stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $38.48, for a total transaction of $138,758.88. Following the completion of the transaction, the chief executive officer now directly owns 74,295 shares in the company, 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 12,437 shares of company stock valued at $477,918 over the last 90 days. 4.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Tenable

A number of institutional investors have recently made changes to their positions in the company. Norges Bank bought a new stake in Tenable in the 4th quarter valued at $54,950,000. Shapiro Capital Management LLC grew its stake in shares of Tenable by 647.5% in the fourth quarter. Shapiro Capital Management LLC now owns 1,060,055 shares of the company’s stock valued at $41,745,000 after acquiring an additional 918,235 shares in the last quarter. Vanguard Group Inc. increased its position in Tenable by 5.3% during the fourth quarter. Vanguard Group Inc. now owns 13,947,023 shares of the company’s stock worth $549,234,000 after acquiring an additional 708,249 shares during the period. Readystate Asset Management LP acquired a new stake in Tenable in the 3rd quarter worth about $24,660,000. Finally, Assenagon Asset Management S.A. bought a new stake in Tenable in the 4th quarter valued at about $15,653,000. Institutional investors own 89.06% of the company’s stock.

About Tenable

(Get Free Report)

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.

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