BNP Paribas Financial Markets Purchases Shares of 56,173 N-able, Inc. (NYSE:NABL)

BNP Paribas Financial Markets purchased a new stake in N-able, Inc. (NYSE:NABL - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 56,173 shares of the company's stock, valued at approximately $525,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NABL. Norges Bank bought a new position in N-able in the fourth quarter valued at approximately $3,450,000. Applied Fundamental Research LLC lifted its stake in shares of N-able by 32.8% in the 4th quarter. Applied Fundamental Research LLC now owns 1,083,033 shares of the company's stock valued at $10,116,000 after acquiring an additional 267,399 shares during the last quarter. Crescent Park Management L.P. lifted its stake in shares of N-able by 32.0% in the 4th quarter. Crescent Park Management L.P. now owns 947,984 shares of the company's stock valued at $8,854,000 after acquiring an additional 229,943 shares during the last quarter. Edgestream Partners L.P. lifted its stake in shares of N-able by 86.5% in the 4th quarter. Edgestream Partners L.P. now owns 417,004 shares of the company's stock valued at $3,895,000 after acquiring an additional 193,387 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of N-able by 5.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,529,875 shares of the company's stock valued at $32,969,000 after acquiring an additional 179,305 shares during the last quarter. 96.35% of the stock is currently owned by institutional investors and hedge funds.

N-able Stock Down 0.1%

N-able stock traded down $0.01 during mid-day trading on Wednesday, reaching $7.94. The stock had a trading volume of 495,550 shares, compared to its average volume of 774,770. The company has a debt-to-equity ratio of 0.43, a quick ratio of 3.01 and a current ratio of 3.01. N-able, Inc. has a fifty-two week low of $6.07 and a fifty-two week high of $15.49. The stock's 50-day simple moving average is $7.18 and its 200-day simple moving average is $8.72. The firm has a market capitalization of $1.50 billion, a PE ratio of 39.83 and a beta of 0.57.

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

N-able announced that its Board of Directors has approved a share buyback plan on Wednesday, March 12th that permits the company to repurchase $75.00 million in shares. This repurchase authorization permits the company to buy up to 5.7% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's board believes its stock is undervalued.

Analysts Set New Price Targets

NABL has been the subject of a number of research reports. Royal Bank of Canada dropped their price target on N-able from $12.00 to $10.00 and set an "outperform" rating for the company in a research note on Tuesday, March 4th. Needham & Company LLC reissued a "buy" rating and issued a $10.00 price objective on shares of N-able in a research report on Monday, May 5th. 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 report on Friday, March 14th. William Blair reissued an "outperform" rating on shares of N-able in a research report on Friday, March 14th. Finally, BMO Capital Markets reissued a "market perform" rating and issued a $8.50 price objective (down from $13.50) on shares of N-able in a research report on Tuesday, March 4th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. 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 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.