Tenable (NASDAQ:TENB) Sets New 52-Week Low on Insider Selling

Tenable Holdings, Inc. (NASDAQ:TENB)’s share price hit a new 52-week low during mid-day trading on Thursday following insider selling activity. The stock traded as low as $35.25 and last traded at $35.25, with a volume of 964277 shares traded. 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 completion of the transaction, the director now owns 353 shares in the company, valued at $13,061. The trade was a 87.63 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on TENB shares. Jefferies Financial Group lifted their price target on Tenable from $40.00 to $45.00 and gave the company a “hold” rating in a research note on Thursday, December 19th. Barclays lifted their price target on Tenable from $45.00 to $48.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th. Scotiabank lifted their price target on Tenable from $44.00 to $45.00 and gave the company a “sector perform” rating in a research note on Tuesday, January 21st. Needham & Company LLC reiterated a “buy” rating and issued a $50.00 price objective on shares of Tenable in a report on Thursday, February 6th. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $47.00 price objective (down from $50.00) on shares of Tenable in a report on Monday, December 2nd. Seven 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 company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target 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 fifty day moving average price of $39.81 and a two-hundred day moving average price of $40.60. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.88.

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. PharVision Advisers LLC acquired a new position in Tenable in the fourth quarter valued at approximately $442,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Tenable by 20.2% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 309,575 shares of the company’s stock valued at $12,191,000 after acquiring an additional 51,989 shares during the last quarter. Voloridge Investment Management LLC purchased a new stake in Tenable in the fourth quarter valued at approximately $923,000. Vident Advisory LLC increased its position in shares of Tenable by 23.3% during the fourth quarter. Vident Advisory LLC now owns 92,381 shares of the company’s stock worth $3,638,000 after acquiring an additional 17,458 shares during the period. Finally, Twinbeech Capital LP purchased a new stake in shares of Tenable during the fourth quarter worth $2,554,000. 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.