Exchange Traded Concepts LLC Grows Position in N-able, Inc. (NYSE:NABL)

Exchange Traded Concepts LLC lifted its holdings in shares of N-able, Inc. (NYSE:NABL - Free Report) by 72.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 244,085 shares of the company's stock after purchasing an additional 102,463 shares during the period. Exchange Traded Concepts LLC owned about 0.13% of N-able worth $1,731,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in NABL. Vanguard Group Inc. grew its holdings in N-able by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 9,330,440 shares of the company's stock valued at $87,146,000 after buying an additional 161,725 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in N-able by 5.4% during the 4th 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 in the last quarter. Applied Fundamental Research LLC grew its holdings in N-able by 32.8% during the 4th quarter. Applied Fundamental Research LLC now owns 1,083,033 shares of the company's stock valued at $10,116,000 after buying an additional 267,399 shares in the last quarter. Legal & General Group Plc grew its holdings in N-able by 9.3% during the 4th quarter. Legal & General Group Plc now owns 1,074,348 shares of the company's stock valued at $10,034,000 after buying an additional 91,613 shares in the last quarter. Finally, Crescent Park Management L.P. grew its holdings in N-able by 32.0% during the 4th 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. Hedge funds and other institutional investors own 96.35% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on NABL. William Blair reaffirmed an "outperform" rating on shares of N-able in a report on Friday, March 14th. BMO Capital Markets reaffirmed a "market perform" rating and set a $8.50 target price (down previously from $13.50) on shares of N-able in a report on Tuesday, March 4th. Needham & Company LLC reissued a "buy" rating and set a $10.00 price objective on shares of N-able in a report on Monday, May 5th. Royal Bank Of Canada cut their price objective on N-able from $12.00 to $10.00 and set an "outperform" rating for the company in a report on Tuesday, March 4th. Finally, Scotiabank boosted their price objective on N-able from $8.75 to $9.00 and gave the stock a "sector perform" rating in a report on Friday, March 14th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $9.38.

N-able Price Performance

NABL traded down $0.36 during midday trading on Friday, hitting $7.54. The stock had a trading volume of 1,633,162 shares, compared to its average volume of 795,102. The company has a market cap of $1.42 billion, a P/E ratio of 83.72 and a beta of 0.61. The business has a fifty day moving average of $7.52 and a 200 day moving average of $8.41. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.20 and a current ratio of 1.20. 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 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 business 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 5.20% and a net margin of 3.47%. N-able's revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.11 earnings per share. As a group, equities analysts forecast 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 initiated a stock buyback program 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 programs are usually an indication that the company's board of directors believes its shares are undervalued.

N-able 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.