Exchange Traded Concepts LLC Purchases 102,463 Shares of N-able, Inc. (NYSE:NABL)

Exchange Traded Concepts LLC boosted its stake in N-able, Inc. (NYSE:NABL - Free Report) by 72.3% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 244,085 shares of the company's stock after buying an additional 102,463 shares during the period. Exchange Traded Concepts LLC owned 0.13% of N-able worth $1,731,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of NABL. Rhumbline Advisers grew its position in N-able by 0.8% in the 4th quarter. Rhumbline Advisers now owns 198,871 shares of the company's stock valued at $1,857,000 after buying an additional 1,586 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of N-able by 4.1% during the 4th quarter. Principal Financial Group Inc. now owns 381,903 shares of the company's stock valued at $3,567,000 after purchasing an additional 15,154 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of N-able by 3.5% during the 4th quarter. Bank of New York Mellon Corp now owns 487,320 shares of the company's stock valued at $4,552,000 after purchasing an additional 16,253 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of N-able by 19.5% during the 4th quarter. Victory Capital Management Inc. now owns 66,314 shares of the company's stock valued at $619,000 after purchasing an additional 10,817 shares in the last quarter. Finally, Aigen Investment Management LP boosted its position in shares of N-able by 196.9% during the 4th quarter. Aigen Investment Management LP now owns 41,319 shares of the company's stock valued at $386,000 after purchasing an additional 27,404 shares in the last quarter. Institutional investors own 96.35% of the company's stock.

N-able Price Performance

NYSE:NABL traded down $0.25 during trading hours on Thursday, hitting $7.88. The company's stock had a trading volume of 884,360 shares, compared to its average volume of 795,211. The stock has a fifty day simple moving average of $7.48 and a 200-day simple moving average of $8.46. The company has a market capitalization of $1.49 billion, a P/E ratio of 37.57 and a beta of 0.61. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.20 and a quick ratio of 1.20. 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 released its quarterly earnings data on Thursday, May 8th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.02. The business 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 5.20% and a net margin of 3.47%. N-able's revenue was up 4.0% compared to the same quarter last year. During the same period last year, the firm posted $0.11 earnings per share. On average, analysts anticipate that N-able, Inc. will post 0.27 EPS for the current fiscal year.

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

Wall Street Analyst Weigh In

Several brokerages have commented on NABL. Royal Bank Of Canada decreased their target price on shares of N-able from $12.00 to $10.00 and set an "outperform" rating for the company in a report on Tuesday, March 4th. Scotiabank raised their price objective on shares of N-able from $8.75 to $9.00 and gave the company a "sector perform" rating in a research report on Friday, March 14th. Needham & Company LLC reiterated a "buy" rating and set a $10.00 price target on shares of N-able in a report on Monday, May 5th. BMO Capital Markets restated a "market perform" rating and issued a $8.50 price objective (down previously from $13.50) on shares of N-able in a research note on Tuesday, March 4th. Finally, William Blair restated 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 issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average 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.