Tenable (NASDAQ:TENB) Sets New 1-Year Low Following Analyst Downgrade

Tenable Holdings, Inc. (NASDAQ:TENB - Get Free Report) shares hit a new 52-week low on Wednesday after Barclays lowered their price target on the stock from $40.00 to $33.00. Barclays currently has an equal weight rating on the stock. Tenable traded as low as $28.75 and last traded at $30.38, with a volume of 453056 shares. The stock had previously closed at $33.68.

Several other research firms also recently weighed in on TENB. Westpark Capital reissued a "hold" rating on shares of Tenable in a research report on Wednesday. Needham & Company LLC lowered their price objective on shares of Tenable from $50.00 to $35.00 and set a "buy" rating on the stock in a research report on Wednesday. Truist Financial reduced their target price on Tenable from $48.00 to $45.00 and set a "buy" rating for the company in a report on Monday, March 31st. Morgan Stanley lowered their price target on Tenable from $40.00 to $30.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 16th. Finally, Cantor Fitzgerald assumed coverage on Tenable in a research note on Monday, March 31st. They issued an "overweight" rating and a $50.00 price objective for the company. Seven research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $40.44.

Insider Buying and Selling at Tenable

In related news, CEO Mark C. Thurmond sold 1,341 shares of the firm's stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $39.56, for a total value of $53,049.96. Following the transaction, the chief executive officer now directly owns 41,266 shares of the company's stock, valued at approximately $1,632,482.96. This trade represents a 3.15 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Stephen A. Vintz sold 6,681 shares of the company's stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $38.16, for a total value of $254,946.96. Following the sale, the chief executive officer now directly owns 316,523 shares of the company's stock, valued at $12,078,517.68. The trade was a 2.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 14,128 shares of company stock worth $539,256 over the last three months. Corporate insiders own 1.50% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. increased 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 purchasing an additional 575 shares during the period. Kayne Anderson Rudnick Investment Management LLC bought a new position in Tenable in the 4th quarter worth approximately $35,000. SBI Securities Co. Ltd. acquired a new position in shares of Tenable during the fourth quarter worth approximately $38,000. Johnson Financial Group Inc. bought a new stake in shares of Tenable in the fourth quarter valued at approximately $53,000. Finally, Byrne Asset Management LLC grew its stake in shares of Tenable by 115.4% in the first quarter. Byrne Asset Management LLC now owns 1,357 shares of the company's stock worth $47,000 after acquiring an additional 727 shares during the last quarter. Institutional investors and hedge funds own 89.06% of the company's stock.

Tenable Price Performance

The firm has a market cap of $3.70 billion, a P/E ratio of -102.57 and a beta of 0.88. The stock's 50-day moving average is $34.47 and its 200-day moving average is $38.80. 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 - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.08. Tenable had a negative net margin of 4.03% and a negative return on equity of 2.07%. The company had revenue of $239.14 million for the quarter, compared to the consensus estimate of $234.12 million. During the same quarter in the previous year, the firm posted $0.25 EPS. The business's revenue was up 10.7% compared to the same quarter last year. As a group, equities analysts anticipate that Tenable Holdings, Inc. will post 0.12 EPS for the current fiscal year.

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.