Ameriprise Financial Inc. Sells 45,574 Shares of N-able, Inc. (NYSE:NABL)

Ameriprise Financial Inc. trimmed its position in shares of N-able, Inc. (NYSE:NABL - Free Report) by 3.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,179,743 shares of the company's stock after selling 45,574 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.64% of N-able worth $11,019,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. 272 Capital LP lifted its stake in N-able by 52.2% in the fourth quarter. 272 Capital LP now owns 337,481 shares of the company's stock valued at $3,152,000 after acquiring an additional 115,818 shares during the last quarter. Nexpoint Asset Management L.P. raised its holdings in shares of N-able by 74.6% during the 4th quarter. Nexpoint Asset Management L.P. now owns 57,193 shares of the company's stock valued at $534,000 after purchasing an additional 24,443 shares in the last quarter. One68 Global Capital LLC acquired a new stake in shares of N-able in the 4th quarter valued at $131,000. Comerica Bank boosted its holdings in N-able by 14.7% in the fourth quarter. Comerica Bank now owns 27,940 shares of the company's stock worth $261,000 after purchasing an additional 3,574 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in N-able by 8.5% in the fourth quarter. Northern Trust Corp now owns 713,385 shares of the company's stock worth $6,663,000 after purchasing an additional 56,072 shares in the last quarter. 96.35% of the stock is currently owned by institutional investors and hedge funds.

N-able Trading Down 0.8%

NYSE:NABL traded down $0.06 during trading hours on Thursday, hitting $7.76. 999,115 shares of the stock were exchanged, compared to its average volume of 768,492. The company has a market capitalization of $1.47 billion, a P/E ratio of 38.80 and a beta of 0.57. The company has a quick ratio of 3.01, a current ratio of 3.01 and a debt-to-equity ratio of 0.43. The company's 50 day moving average is $7.17 and its two-hundred day moving average is $8.87. N-able, Inc. has a twelve month low of $6.07 and a twelve month high of $15.49.

N-able (NYSE:NABL - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.02. The company had revenue of $118.20 million during the quarter, compared to analyst estimates of $115.65 million. N-able had a return on equity of 6.31% and a net margin of 8.08%. The company's revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.11 EPS. On average, sell-side analysts anticipate that N-able, Inc. will post 0.27 earnings per share for the current fiscal year.

N-able announced that its Board of Directors has approved a stock buyback program on Wednesday, March 12th that allows the company to buyback $75.00 million in outstanding shares. This buyback authorization allows the company to buy up to 5.7% of its shares through open market purchases. Shares buyback programs are often a sign that the company's management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on NABL. William Blair reaffirmed an "outperform" rating on shares of N-able in a research report on Friday, March 14th. BMO Capital Markets reiterated a "market perform" rating and issued a $8.50 target price (down previously from $13.50) on shares of N-able in a report on Tuesday, March 4th. Royal Bank of Canada lowered their price target on N-able from $12.00 to $10.00 and set an "outperform" rating on the stock 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 stock a "sector perform" rating in a research note on Friday, March 14th. Finally, Needham & Company LLC restated a "buy" rating and set a $10.00 target price on shares of N-able in a research note on Monday, May 5th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target 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.