272 Capital LP Has $3.15 Million Stock Position in N-able, Inc. (NYSE:NABL)

272 Capital LP boosted its holdings in shares of N-able, Inc. (NYSE:NABL - Free Report) by 52.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 337,481 shares of the company's stock after buying an additional 115,818 shares during the quarter. N-able makes up approximately 3.0% of 272 Capital LP's investment portfolio, making the stock its 11th largest position. 272 Capital LP owned approximately 0.18% of N-able worth $3,152,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Tower Research Capital LLC TRC raised its holdings in N-able by 67.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,251 shares of the company's stock valued at $30,000 after acquiring an additional 1,309 shares during the period. Blue Trust Inc. increased its stake in shares of N-able by 95.5% during the fourth quarter. Blue Trust Inc. now owns 3,128 shares of the company's stock worth $29,000 after purchasing an additional 1,528 shares during the period. Rhumbline Advisers lifted its holdings in N-able by 0.8% during the 4th quarter. Rhumbline Advisers now owns 198,871 shares of the company's stock worth $1,857,000 after purchasing an additional 1,586 shares during the last quarter. Harbor Capital Advisors Inc. boosted its stake in N-able by 22.3% in the 4th quarter. Harbor Capital Advisors Inc. now owns 15,176 shares of the company's stock valued at $142,000 after purchasing an additional 2,764 shares during the period. Finally, KBC Group NV increased 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 worth $51,000 after buying an additional 2,808 shares during the period. Institutional investors own 96.35% of the company's stock.

N-able Stock Up 0.1 %

Shares of NABL opened at $7.07 on Friday. The firm has a 50 day simple moving average of $7.29 and a two-hundred day simple moving average of $9.33. The company has a market cap of $1.33 billion, a P/E ratio of 35.33 and a beta of 0.57. N-able, Inc. has a one year low of $6.07 and a one year 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.

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

Analyst Ratings Changes

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

About N-able

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.

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