Tenable (NASDAQ:TENB) Hits New 1-Year Low After Insider Selling

Tenable Holdings, Inc. (NASDAQ:TENB)’s share price reached a new 52-week low during mid-day trading on Thursday following insider selling activity. The company 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.

Specifically, Director Linda Kay Zecher sold 2,500 shares of Tenable stock in a transaction dated Tuesday, March 11th. The stock was 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 of the company’s stock, 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 SEC, which can be accessed through this hyperlink.

Analyst Ratings Changes

A number of equities analysts recently weighed in on TENB shares. Needham & Company LLC reissued a “buy” rating and issued a $50.00 price target on shares of Tenable in a research note on Thursday, February 6th. Scotiabank lifted their price target on Tenable from $44.00 to $45.00 and gave the stock a “sector perform” rating in a research note on Tuesday, January 21st. Morgan Stanley restated an “equal weight” rating and set a $47.00 price objective (down from $50.00) on shares of Tenable in a research report on Monday, December 2nd. Stifel Nicolaus lowered Tenable from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $46.00 to $45.00 in a research report on Friday, January 17th. Finally, Barclays raised their price objective on Tenable from $45.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th. Seven research 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, Tenable currently has an average rating of “Moderate Buy” and a consensus target price of $49.67.

Tenable Trading Up 2.3 %

The firm has a market capitalization of $4.34 billion, a price-to-earnings ratio of -120.20 and a beta of 0.87. 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 company has a fifty day moving average price of $39.81 and a 200-day moving average price of $40.60.

Tenable (NASDAQ:TENB) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate 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, equities research analysts predict that Tenable Holdings, Inc. will post 0.12 EPS for the current year.

Institutional Investors Weigh In On Tenable

Several institutional investors and hedge funds have recently added to or reduced their stakes in TENB. Covestor Ltd lifted its holdings in Tenable by 84.5% in the 3rd quarter. Covestor Ltd now owns 631 shares of the company’s stock worth $26,000 after purchasing an additional 289 shares during the last quarter. State of New Jersey Common Pension Fund D lifted its holdings in Tenable by 9.6% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 47,912 shares of the company’s stock worth $1,941,000 after purchasing an additional 4,182 shares during the last quarter. Entropy Technologies LP acquired a new stake in Tenable in the 3rd quarter worth approximately $341,000. Oppenheimer Asset Management Inc. lifted its holdings in Tenable by 59.6% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 15,754 shares of the company’s stock worth $638,000 after purchasing an additional 5,883 shares during the last quarter. Finally, Mutual of America Capital Management LLC lifted its holdings in Tenable by 10.5% in the 3rd quarter. Mutual of America Capital Management LLC now owns 81,167 shares of the company’s stock worth $3,289,000 after purchasing an additional 7,713 shares during the last quarter. 89.06% of the stock is currently 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.