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

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

Several other large investors have also modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in N-able by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 9,330,440 shares of the company's stock worth $87,146,000 after acquiring an additional 161,725 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of N-able by 5.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,529,875 shares of the company's stock valued at $32,969,000 after buying an additional 179,305 shares during the last quarter. Applied Fundamental Research LLC raised its holdings in N-able by 32.8% during the fourth quarter. Applied Fundamental Research LLC now owns 1,083,033 shares of the company's stock worth $10,116,000 after purchasing an additional 267,399 shares in the last quarter. Legal & General Group Plc raised its holdings in N-able by 9.3% during the fourth quarter. Legal & General Group Plc now owns 1,074,348 shares of the company's stock worth $10,034,000 after purchasing an additional 91,613 shares in the last quarter. Finally, Crescent Park Management L.P. increased its holdings in shares of N-able by 32.0% in the fourth quarter. Crescent Park Management L.P. now owns 947,984 shares of the company's stock valued at $8,854,000 after buying an additional 229,943 shares in the last quarter. Institutional investors own 96.35% of the company's stock.

N-able Stock Down 0.5%

Shares of N-able stock traded down $0.04 on Friday, hitting $7.73. 995,441 shares of the company traded hands, compared to its average volume of 773,943. The company has a market cap of $1.46 billion, a PE ratio of 38.63 and a beta of 0.57. N-able, Inc. has a 12-month low of $6.07 and a 12-month high of $15.49. The company has a 50-day moving average price of $7.17 and a 200 day moving average price of $8.78. The company has a quick ratio of 3.01, a current ratio of 3.01 and a debt-to-equity ratio of 0.43.

N-able (NYSE:NABL - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.06 by $0.02. N-able had a net margin of 8.08% and a return on equity of 6.31%. The firm had revenue of $118.20 million during the quarter, compared to analysts' expectations of $115.65 million. During the same period in the prior year, the company posted $0.11 earnings per share. N-able's revenue for the quarter was up 4.0% on a year-over-year basis. Sell-side analysts predict that N-able, Inc. will post 0.27 earnings per share for the current year.

N-able announced that its board has initiated a share buyback plan on Wednesday, March 12th that permits the company to buyback $75.00 million in shares. This buyback authorization permits the company to purchase up to 5.7% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on NABL shares. Royal Bank of Canada dropped their price target on N-able from $12.00 to $10.00 and set an "outperform" rating on the stock in a report on Tuesday, March 4th. William Blair reiterated an "outperform" rating on shares of N-able in a research report on Friday, March 14th. Needham & Company LLC reiterated a "buy" rating and set a $10.00 price objective on shares of N-able in a research report on Monday, May 5th. Scotiabank lifted their price objective on shares of N-able from $8.75 to $9.00 and gave the stock a "sector perform" rating in a research report on Friday, March 14th. Finally, BMO Capital Markets reiterated a "market perform" rating and set a $8.50 price objective (down from $13.50) on shares of N-able in a research 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 company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average 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.