N-able, Inc. (NYSE:NABL) Shares Purchased by Janus Henderson Group PLC

Janus Henderson Group PLC raised its stake in N-able, Inc. (NYSE:NABL - Free Report) by 38.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 350,628 shares of the company's stock after buying an additional 97,147 shares during the period. Janus Henderson Group PLC owned about 0.19% of N-able worth $3,275,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC boosted its position in N-able by 67.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,251 shares of the company's stock valued at $30,000 after buying an additional 1,309 shares during the period. Blue Trust Inc. lifted its position in shares of N-able by 95.5% in the 4th quarter. Blue Trust Inc. now owns 3,128 shares of the company's stock worth $29,000 after purchasing an additional 1,528 shares during the period. Rhumbline Advisers lifted its position in shares of N-able by 0.8% in the 4th quarter. Rhumbline Advisers now owns 198,871 shares of the company's stock worth $1,857,000 after purchasing an additional 1,586 shares during the period. KBC Group NV lifted its position in shares of N-able by 104.7% in the 4th quarter. KBC Group NV now owns 5,490 shares of the company's stock worth $51,000 after purchasing an additional 2,808 shares during the period. Finally, Aquatic Capital Management LLC purchased a new stake in shares of N-able in the 4th quarter worth approximately $29,000. 96.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on NABL shares. William Blair reaffirmed an "outperform" rating on shares of N-able in a research report on Friday, March 14th. Royal Bank of Canada lowered their price target on shares of N-able from $12.00 to $10.00 and set an "outperform" rating for the company in a research report on Tuesday, March 4th. Scotiabank upped their price target 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. BMO Capital Markets reaffirmed a "market perform" rating and issued a $8.50 price target (down previously from $13.50) on shares of N-able in a research report on Tuesday, March 4th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $10.00 price target on shares of N-able in a research report on Monday, May 5th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $9.38.

N-able Stock Down 0.8%

NYSE:NABL traded down $0.06 during midday trading on Thursday, reaching $7.76. 999,115 shares of the stock traded hands, compared to its average volume of 769,874. N-able, Inc. has a 12-month low of $6.07 and a 12-month high of $15.49. The business has a 50-day moving average of $7.17 and a two-hundred day moving average of $8.87. 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 market capitalization of $1.47 billion, a PE ratio of 38.80 and a beta of 0.57.

N-able (NYSE:NABL - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.08 earnings per share (EPS) for the quarter, beating 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 business had revenue of $118.20 million for the quarter, compared to analyst estimates of $115.65 million. During the same quarter in the prior year, the business posted $0.11 EPS. N-able's revenue for the quarter was up 4.0% compared to the same quarter last year. On average, 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 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 reacquire up to 5.7% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's board of directors believes its shares are undervalued.

About N-able

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.