Tenable (NASDAQ:TENB) Shares Down 6.2% After Earnings Miss

Tenable Holdings, Inc. (NASDAQ:TENB - Get Free Report)'s share price dropped 6.2% on Thursday following a dissappointing earnings announcement. The company traded as low as $40.64 and last traded at $40.54. Approximately 110,398 shares changed hands during mid-day trading, a decline of 90% from the average daily volume of 1,067,212 shares. The stock had previously closed at $43.21.

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%.

Analyst Upgrades and Downgrades

TENB has been the subject of several recent research reports. Piper Sandler lowered their target price on shares of Tenable from $55.00 to $50.00 and set an "overweight" rating for the company in a report on Thursday, October 31st. Jefferies Financial Group lifted their price objective on Tenable from $40.00 to $45.00 and gave the company a "hold" rating in a research note on Thursday, December 19th. Barclays increased their target price on Tenable from $45.00 to $48.00 and gave the stock an "equal weight" rating in a research note on Thursday. Stifel Nicolaus lowered Tenable from a "buy" rating to a "hold" rating and lowered their price target for the stock from $46.00 to $45.00 in a research report on Friday, January 17th. Finally, Robert W. Baird cut their price objective on shares of Tenable from $53.00 to $50.00 and set an "outperform" rating on the stock in a research report on Friday, October 25th. Seven equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $49.67.

Insiders Place Their Bets

In other news, Director Raymond Jr. Vicks sold 809 shares of the business's 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 sale, the director now owns 8,659 shares of the company's stock, valued at $333,544.68. The trade was a 8.54 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Mark C. Thurmond sold 2,343 shares of the company's stock in a transaction on Monday, November 25th. The stock was sold at an average price of $42.74, for a total value of $100,139.82. Following the completion of the sale, the chief operating officer now owns 37,188 shares of the company's stock, valued at $1,589,415.12. This trade represents a 5.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 21,463 shares of company stock valued at $894,042. Company insiders own 4.30% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in TENB. Creative Planning boosted its position in shares of Tenable by 12.1% in the second quarter. Creative Planning now owns 9,541 shares of the company's stock worth $416,000 after purchasing an additional 1,031 shares during the period. Claro Advisors LLC lifted its stake in shares of Tenable by 160.4% during the 3rd quarter. Claro Advisors LLC now owns 16,278 shares of the company's stock valued at $660,000 after buying an additional 10,028 shares in the last quarter. Tempus Wealth Planning LLC bought a new position in Tenable in the 3rd quarter worth $285,000. Vanderbilt University increased its stake in Tenable by 7.2% in the 3rd quarter. Vanderbilt University now owns 138,849 shares of the company's stock worth $5,626,000 after buying an additional 9,273 shares in the last quarter. Finally, Pinnacle Associates Ltd. raised its stake in Tenable by 1.0% during the 3rd quarter. Pinnacle Associates Ltd. now owns 294,080 shares of the company's stock valued at $11,916,000 after purchasing an additional 3,004 shares during the period. 89.06% of the stock is currently owned by institutional investors.

Tenable Price Performance

The firm's fifty day moving average price is $41.38 and its 200 day moving average price is $41.28. The stock has a market cap of $4.91 billion, a PE ratio of -136.17 and a beta of 0.87. 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 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.