Tenable (NASDAQ:TENB) Sets New 12-Month Low – Should You Sell?

Tenable Holdings, Inc. (NASDAQ:TENB) shares hit a new 52-week low during trading on Monday . The company traded as low as $30.48 and last traded at $30.51, with a volume of 102580 shares traded. The stock had previously closed at $31.44.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Cantor Fitzgerald assumed coverage on shares of Tenable in a research note on Monday, March 31st. They set an “overweight” rating and a $50.00 price target on the stock. Morgan Stanley dropped their price objective on shares of Tenable from $40.00 to $30.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 16th. Barclays cut their price objective on shares of Tenable from $48.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Monday, April 14th. Truist Financial lowered their price target on Tenable from $48.00 to $45.00 and set a “buy” rating on the stock in a report on Monday, March 31st. Finally, Stephens initiated coverage on Tenable in a research report on Tuesday, April 1st. They issued an “equal weight” rating and a $42.00 target price for the company. Seven analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued 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 price target of $46.71.

Tenable Price Performance

The company has a market capitalization of $3.64 billion, a P/E ratio of -101.07 and a beta of 0.88. The company has a 50 day moving average price of $35.93 and a 200 day moving average price of $39.49. 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 quarterly earnings results 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 return on equity of 2.07% and a negative net margin of 4.03%. On average, equities analysts predict that Tenable Holdings, Inc. will post 0.12 EPS for the current fiscal year.

Insider Transactions at Tenable

In other news, CEO Mark C. Thurmond sold 3,606 shares of the company’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $38.48, for a total transaction of $138,758.88. Following the transaction, the chief executive officer now owns 74,295 shares in the company, valued at approximately $2,858,871.60. This represents a 4.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Stephen A. Vintz sold 6,681 shares of the business’s 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 sale, the chief executive officer now directly owns 316,523 shares of the company’s stock, valued at approximately $12,078,517.68. The trade was a 2.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 14,128 shares of company stock worth $539,256 over the last ninety days. 1.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Arizona State Retirement System lifted its stake in shares of 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 purchasing an additional 332 shares during the period. Summit Investment Advisors Inc. lifted its holdings in shares of Tenable by 3.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 12,336 shares of the company’s stock valued at $486,000 after buying an additional 390 shares during the period. Oppenheimer & Co. Inc. lifted its stake in shares of Tenable by 3.0% in the 4th quarter. Oppenheimer & Co. Inc. now owns 15,650 shares of the company’s stock worth $616,000 after purchasing an additional 450 shares during the period. Tidal Investments LLC grew its position in shares of Tenable by 1.8% during the 4th quarter. Tidal Investments LLC now owns 32,082 shares of the company’s stock valued at $1,263,000 after acquiring an additional 564 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of 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 buying an additional 575 shares during the period. 89.06% of the stock is owned by 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.