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

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

Analyst Upgrades and Downgrades

Several research firms have weighed in on TENB. Morgan Stanley began coverage on shares of Tenable in a report on Tuesday, March 18th. They issued an “equal weight” rating and a $40.00 price target on the stock. Jefferies Financial Group upped their price objective on Tenable from $40.00 to $45.00 and gave the company a “hold” rating in a report on Thursday, December 19th. Scotiabank boosted their target price on shares of Tenable from $44.00 to $45.00 and gave the company a “sector perform” rating in a research report on Tuesday, January 21st. Stifel Nicolaus cut shares of Tenable from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $46.00 to $45.00 in a research note on Friday, January 17th. Finally, Barclays increased their target price 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. Seven equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $49.20.

Tenable Stock Down 2.8 %

The stock has a market capitalization of $4.20 billion, a price-to-earnings ratio of -116.47 and a beta of 0.87. The stock has a 50 day moving average price of $39.15 and a 200 day moving average price of $40.33. 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 (NASDAQ:TENB) last announced its earnings results 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 return on equity of 2.07% and a negative net margin of 4.03%. As a group, analysts forecast that Tenable Holdings, Inc. will post 0.12 EPS for the current year.

Insider Transactions at Tenable

In other Tenable news, CEO Stephen A. Vintz sold 6,681 shares of Tenable stock in a transaction dated 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 transaction, the chief executive officer now owns 316,523 shares in the company, valued at approximately $12,078,517.68. The trade was a 2.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Raymond Jr. Vicks sold 809 shares of the company’s stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $38.52, for a total value of $31,162.68. Following the sale, the director now owns 8,659 shares of the company’s stock, valued at $333,544.68. This trade represents a 8.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 14,937 shares of company stock valued at $570,418 in the last 90 days. 4.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Tenable

A number of hedge funds have recently bought and sold shares of TENB. FMR LLC increased its stake in Tenable by 2.0% in the 4th quarter. FMR LLC now owns 15,515,164 shares of the company’s stock valued at $610,987,000 after buying an additional 304,237 shares during the last quarter. Vanguard Group Inc. lifted its holdings 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. State Street Corp boosted its position in Tenable by 2.6% in the third quarter. State Street Corp now owns 2,913,580 shares of the company’s stock worth $118,058,000 after purchasing an additional 73,293 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Tenable by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 2,803,231 shares of the company’s stock valued at $110,416,000 after purchasing an additional 8,746 shares during the last quarter. Finally, First Trust Advisors LP boosted its holdings in shares of Tenable by 6.2% in the 4th quarter. First Trust Advisors LP now owns 2,332,650 shares of the company’s stock worth $91,860,000 after buying an additional 137,150 shares during the last quarter. 89.06% of the stock is owned by hedge funds and other institutional investors.

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.