REVERE BK LAURE/SH SH (REVB) Cut to “Sell” at ValuEngine Tenable (TENB) Trading Down 6.4% After Insider Selling Tenable (TENB) Trading Down 6.4% After Insider Selling - Filed Under - by Stacy Sanders Tweet
Shares of Tenable Holdings Inc (NASDAQ:TENB) dropped 6.4% during trading on Friday following insider selling activity. The stock traded as low as $30.51 and last traded at $30.56. Approximately 604,274 shares were traded during mid-day trading, a decline of 17% from the average daily volume of 725,353 shares. The stock had previously closed at $32.64.
Specifically, General Counsel Stephen A. Riddick sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, February 8th. The stock was sold at an average price of $26.53, for a total value of $663,250.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink . Also, CEO Amit Yoran sold 35,290 shares of the business’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $32.18, for a total value of $1,135,632.20. The disclosure for this sale can be found here . Insiders sold 339,909 shares of company stock valued at $10,221,055 over the last three months. Get Tenable alerts:
TENB has been the subject of a number of analyst reports. Morgan Stanley raised Tenable from an “equal” rating to an “overweight” rating and boosted their price target for the company from $30.00 to $31.00 in a report on Tuesday, January 15th. Berenberg Bank initiated coverage on Tenable in a report on Thursday, November 29th. They issued a “buy” rating and a $38.00 price target for the company. Summit Insights initiated coverage on Tenable in a report on Monday, February 11th. They issued a “buy” rating for the company. Finally, Zacks Investment Research raised Tenable from a “sell” rating to a “hold” rating in a report on Saturday, January 26th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $36.86. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $3.08 billion and a price-to-earnings ratio of -22.47.
Tenable (NASDAQ:TENB) last announced its earnings results on Tuesday, February 5th. The company reported ($0.12) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.14) by $0.02. The business had revenue of $75.22 million for the quarter, compared to analyst estimates of $72.59 million. The company’s quarterly revenue was up 39.0% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.12) earnings per share. Research analysts predict that Tenable Holdings Inc will post -1.11 EPS for the current year.
Hedge funds have recently made changes to their positions in the company. Advisory Services Network LLC raised its stake in shares of Tenable by 1,743.0% during the 4th quarter. Advisory Services Network LLC now owns 1,843 shares of the company’s stock worth $41,000 after buying an additional 1,743 shares during the period. Metropolitan Life Insurance Co. NY increased its position in shares of Tenable by 193.7% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 4,032 shares of the company’s stock worth $89,000 after purchasing an additional 2,659 shares in the last quarter. JPMorgan Chase & Co. purchased a new stake in shares of Tenable during the third quarter worth approximately $113,000. Point72 Asset Management L.P. purchased a new stake in shares of Tenable during the third quarter worth approximately $138,000. Finally, Partner Investment Management L.P. purchased a new stake in shares of Tenable during the third quarter worth approximately $145,000. 42.50% of the stock is owned by institutional investors and hedge funds.
About Tenable ( NASDAQ:TENB )
Tenable Holdings, Inc provides cybersecurity solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. Its enterprise software platform enables visibility into an organization's cyber exposure across the attack surface and deep insights that help organizations translate technical data into business insights to understand and reduce their cybersecurity risk.
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