Tenable (NASDAQ:TENB) Reaches New 12-Month Low - What's Next?

Tenable Holdings, Inc. (NASDAQ:TENB - Get Free Report)'s stock price 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. The stock had previously closed at $31.44.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Truist Financial lowered their price objective on Tenable from $48.00 to $45.00 and set a "buy" rating for the company in a research note on Monday, March 31st. Cantor Fitzgerald started coverage on shares of Tenable in a research note on Monday, March 31st. They set an "overweight" rating and a $50.00 price target for the company. Jefferies Financial Group cut their price target on shares of Tenable from $45.00 to $37.00 and set a "hold" rating on the stock in a report on Monday, March 31st. Barclays decreased their price objective on Tenable from $48.00 to $40.00 and set an "equal weight" rating for the company in a report on Monday, April 14th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $50.00 target price on shares of Tenable in a report on Thursday, February 6th. Seven equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $46.72.

Tenable Stock Down 0.7 %

The stock has a market cap of $3.90 billion, a price-to-earnings ratio of -108.42 and a beta of 0.88. The firm's fifty day moving average price is $35.31 and its two-hundred day moving average price is $39.25. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.28 and a quick ratio of 1.28.

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

Insider Buying and Selling at Tenable

In related news, CEO Stephen A. Vintz sold 6,681 shares of the company's stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $38.16, for a total transaction of $254,946.96. Following the completion of the sale, the chief executive officer now owns 316,523 shares in the company, valued at approximately $12,078,517.68. This represents a 2.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 transaction, the director now owns 353 shares in the company, valued at approximately $13,061. This trade represents a 87.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 14,128 shares of company stock valued at $539,256. Corporate insiders own 1.50% of the company's stock.

Institutional Trading of Tenable

Several institutional investors and hedge funds have recently made changes to their positions in TENB. Arizona State Retirement System increased its stake in Tenable by 1.0% in the 4th quarter. Arizona State Retirement System now owns 34,560 shares of the company's stock valued at $1,361,000 after buying an additional 332 shares during the last quarter. Summit Investment Advisors Inc. increased its position in shares of Tenable by 3.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 12,336 shares of the company's stock valued at $486,000 after acquiring an additional 390 shares during the last quarter. Oppenheimer & Co. Inc. lifted its holdings in Tenable by 3.0% during the fourth quarter. Oppenheimer & Co. Inc. now owns 15,650 shares of the company's stock worth $616,000 after acquiring an additional 450 shares during the period. Tidal Investments LLC lifted its holdings in Tenable by 1.8% during the fourth quarter. Tidal Investments LLC now owns 32,082 shares of the company's stock worth $1,263,000 after acquiring an additional 564 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in 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 purchasing an additional 575 shares during the last quarter. Hedge funds and other institutional investors 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.