Tenable (NASDAQ:TENB) Reaches New 52-Week Low - Should You Sell?

Tenable Holdings, Inc. (NASDAQ:TENB - Get Free Report) hit a new 52-week low during trading on Friday . The company traded as low as $35.08 and last traded at $35.12, with a volume of 119126 shares changing hands. The stock had previously closed at $35.96.

Analyst Upgrades and Downgrades

TENB has been the subject of a number of recent research reports. Barclays raised their price target on shares of Tenable from $45.00 to $48.00 and gave the stock an "equal weight" rating in a research report on Thursday, February 6th. Morgan Stanley assumed coverage on shares of Tenable in a report on Tuesday, March 18th. They set an "equal weight" rating and a $40.00 target price for the company. Truist Financial decreased their target price on shares of Tenable from $48.00 to $45.00 and set a "buy" rating for the company in a research report on Monday. Stifel Nicolaus downgraded Tenable from a "buy" rating to a "hold" rating and cut their price target for the stock from $46.00 to $45.00 in a research report on Friday, January 17th. Finally, Cantor Fitzgerald assumed coverage on Tenable in a report on Monday. They issued an "overweight" rating and a $50.00 price objective for the company. Eight equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Tenable presently has an average rating of "Moderate Buy" and an average target price of $47.76.

Tenable Trading Up 0.5 %

The stock has a market cap of $4.23 billion, a price-to-earnings ratio of -117.23 and a beta of 0.87. 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 company has a 50 day moving average of $39.03 and a 200-day moving average of $40.31.

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Tenable (NASDAQ:TENB - Get Free Report) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $0.08 earnings per share 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%. On average, research analysts anticipate that Tenable Holdings, Inc. will post 0.12 earnings per share for the current year.

Insider Activity

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

Institutional Trading of Tenable

A number of hedge funds and other institutional investors have recently bought and sold shares of TENB. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Tenable by 858.2% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 642 shares of the company's stock valued at $25,000 after acquiring an additional 575 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC acquired a new position in Tenable in the fourth quarter valued at approximately $35,000. SBI Securities Co. Ltd. purchased a new position in Tenable in the fourth quarter valued at approximately $38,000. Johnson Financial Group Inc. acquired a new stake in Tenable during the fourth quarter worth approximately $53,000. Finally, Larson Financial Group LLC lifted its position in shares of Tenable by 89.9% during the 4th quarter. Larson Financial Group LLC now owns 1,426 shares of the company's stock worth $56,000 after buying an additional 675 shares during the last quarter. 89.06% of the stock is currently owned by institutional investors and hedge funds.

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.