Algert Global LLC Has $1.04 Million Position in N-able, Inc. (NYSE:NABL)

Algert Global LLC cut its position in shares of N-able, Inc. (NYSE:NABL - Free Report) by 30.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 111,466 shares of the company's stock after selling 49,634 shares during the period. Algert Global LLC owned 0.06% of N-able worth $1,041,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of NABL. Barclays PLC boosted its position in N-able by 398.2% during the third quarter. Barclays PLC now owns 143,095 shares of the company's stock worth $1,869,000 after purchasing an additional 114,374 shares during the period. JPMorgan Chase & Co. lifted its position in N-able by 110.9% during the third quarter. JPMorgan Chase & Co. now owns 275,906 shares of the company's stock worth $3,603,000 after acquiring an additional 145,053 shares during the last quarter. Harbor Capital Advisors Inc. boosted its holdings in shares of N-able by 22.3% during the fourth quarter. Harbor Capital Advisors Inc. now owns 15,176 shares of the company's stock worth $142,000 after acquiring an additional 2,764 shares during the period. SG Americas Securities LLC acquired a new position in shares of N-able in the fourth quarter valued at approximately $197,000. Finally, Impact Partnership Wealth LLC bought a new position in shares of N-able during the fourth quarter worth approximately $104,000. 96.35% of the stock is owned by institutional investors.

N-able Trading Down 0.4 %

Shares of NABL stock opened at $7.52 on Friday. N-able, Inc. has a fifty-two week low of $6.07 and a fifty-two week high of $15.49. The stock's fifty day moving average price is $7.06 and its two-hundred day moving average price is $9.08. The company has a debt-to-equity ratio of 0.43, a quick ratio of 3.01 and a current ratio of 3.01. The company has a market cap of $1.42 billion, a PE ratio of 37.60 and a beta of 0.57.

N-able declared that its board has approved a share repurchase program on Wednesday, March 12th that authorizes the company to repurchase $75.00 million in shares. This repurchase authorization authorizes the company to reacquire up to 5.7% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's management believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. William Blair reissued an "outperform" rating on shares of N-able in a report on Friday, March 14th. Royal Bank of Canada lowered their target price on shares of N-able from $12.00 to $10.00 and set an "outperform" rating on the stock in a report on Tuesday, March 4th. BMO Capital Markets reissued a "market perform" rating and set a $8.50 price target (down previously from $13.50) on shares of N-able in a research report on Tuesday, March 4th. 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. Finally, Needham & Company LLC reissued a "buy" rating and set a $10.00 target price on shares of N-able in a report on Monday, May 5th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $9.38.

N-able Company 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.

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