272 Capital LP Grows Stock Holdings in N-able, Inc. (NYSE:NABL)

272 Capital LP grew its stake in shares of N-able, Inc. (NYSE:NABL - Free Report) by 52.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 337,481 shares of the company's stock after buying an additional 115,818 shares during the period. N-able accounts for about 3.0% of 272 Capital LP's investment portfolio, making the stock its 11th largest position. 272 Capital LP owned about 0.18% of N-able worth $3,152,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in NABL. Blue Trust Inc. lifted its stake in shares of N-able by 95.5% during the 4th quarter. Blue Trust Inc. now owns 3,128 shares of the company's stock worth $29,000 after acquiring an additional 1,528 shares during the last quarter. Aquatic Capital Management LLC bought a new position in N-able in the fourth quarter worth approximately $29,000. Tower Research Capital LLC TRC increased its holdings in N-able by 67.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,251 shares of the company's stock worth $30,000 after purchasing an additional 1,309 shares during the period. KBC Group NV raised its position in N-able by 104.7% during the 4th quarter. KBC Group NV now owns 5,490 shares of the company's stock valued at $51,000 after purchasing an additional 2,808 shares in the last quarter. Finally, New Age Alpha Advisors LLC purchased a new stake in shares of N-able in the 4th quarter worth $83,000. Institutional investors own 96.35% of the company's stock.

N-able Price Performance

NYSE NABL traded up $0.07 during trading hours on Wednesday, hitting $7.18. 455,135 shares of the company's stock traded hands, compared to its average volume of 719,251. N-able, Inc. has a 52-week low of $6.07 and a 52-week high of $15.49. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.01 and a quick ratio of 3.01. The firm's 50-day moving average is $7.11 and its 200-day moving average is $9.19. The company has a market capitalization of $1.36 billion, a PE ratio of 35.88 and a beta of 0.57.

N-able declared that its board has approved a stock buyback program on Wednesday, March 12th that allows the company to repurchase $75.00 million in shares. This repurchase authorization allows the company to reacquire up to 5.7% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on NABL shares. Scotiabank upped their target price on N-able from $8.75 to $9.00 and gave the stock a "sector perform" rating in a report on Friday, March 14th. Needham & Company LLC reissued a "buy" rating and set a $10.00 price objective on shares of N-able in a report on Monday. William Blair reiterated an "outperform" rating on shares of N-able in a research report on Friday, March 14th. BMO Capital Markets reissued a "market perform" rating and set a $8.50 target price (down from $13.50) on shares of N-able in a research note on Tuesday, March 4th. Finally, Royal Bank of Canada reduced their price target on N-able from $12.00 to $10.00 and set an "outperform" rating for the company in a report on Tuesday, March 4th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, N-able currently has an average rating of "Moderate Buy" and a consensus target price of $9.38.

N-able Profile

N-able, Inc provides cloud-based software solutions for managed service providers in the United States, the United Kingdom, and internationally. The company's solutions enable MSPs to support digital transformation and growth within small and medium-sized enterprises. It provides software platform designed to be an integrated, enterprise-grade solution that serves as an operating system for its MSP partners and scales as their businesses grow.