BNP Paribas Financial Markets Purchases New Shares in N-able, Inc. (NYSE:NABL)

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

A number of other institutional investors have also added to or reduced their stakes in the business. Blue Trust Inc. increased its position in shares of N-able by 95.5% during the 4th quarter. Blue Trust Inc. now owns 3,128 shares of the company's stock valued at $29,000 after purchasing an additional 1,528 shares during the last quarter. Aquatic Capital Management LLC bought a new position in shares of N-able during the 4th quarter valued at about $29,000. Tower Research Capital LLC TRC increased its position in shares of N-able by 67.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,251 shares of the company's stock valued at $30,000 after purchasing an additional 1,309 shares during the last quarter. KBC Group NV increased its position in shares of N-able by 104.7% during the 4th quarter. KBC Group NV now owns 5,490 shares of the company's stock valued at $51,000 after purchasing an additional 2,808 shares during the last quarter. Finally, New Age Alpha Advisors LLC bought a new position in shares of N-able during the 4th quarter valued at about $83,000. 96.35% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

NABL has been the topic of several recent research reports. Royal Bank of Canada reduced their price objective 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 raised their price target 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. Needham & Company LLC reaffirmed a "buy" rating and issued a $10.00 price target on shares of N-able in a research note on Monday, May 5th. BMO Capital Markets reaffirmed a "market perform" rating and issued a $8.50 price target (down from $13.50) on shares of N-able in a research note on Tuesday, March 4th. Finally, William Blair reaffirmed an "outperform" rating on shares of N-able in a research note on Friday, March 14th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, N-able currently has a consensus rating of "Moderate Buy" and a consensus price target of $9.38.

N-able Price Performance

N-able stock remained flat at $7.89 during trading hours on Thursday. The company's stock had a trading volume of 1,560,941 shares, compared to its average volume of 774,876. 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 stock has a 50-day simple moving average of $7.19 and a 200-day simple moving average of $8.70. The stock has a market cap of $1.49 billion, a price-to-earnings ratio of 39.45 and a beta of 0.57. N-able, Inc. has a 1-year low of $6.07 and a 1-year high of $15.49.

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 for the quarter, topping analysts' consensus estimates of $0.06 by $0.02. The firm had revenue of $118.20 million for 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 business's quarterly revenue was up 4.0% compared to the same quarter last year. During the same period last year, the company earned $0.11 EPS. As a group, research analysts expect that N-able, Inc. will post 0.27 earnings per share for the current year.

N-able announced that its Board of Directors has authorized a share buyback program on Wednesday, March 12th that allows the company to repurchase $75.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 5.7% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's board believes its shares are undervalued.

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.