Millennium Management LLC grew its holdings in N-able, Inc. (NYSE:NABL - Free Report) by 48.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 791,871 shares of the company's stock after purchasing an additional 258,979 shares during the period. Millennium Management LLC owned approximately 0.43% of N-able worth $7,396,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of the business. Tower Research Capital LLC TRC lifted its holdings in shares of N-able by 67.4% in the fourth 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 in the last quarter. Blue Trust Inc. raised its holdings in shares of N-able by 95.5% during the fourth quarter. Blue Trust Inc. now owns 3,128 shares of the company's stock worth $29,000 after acquiring an additional 1,528 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in N-able by 3.9% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 40,660 shares of the company's stock valued at $380,000 after buying an additional 1,541 shares in the last quarter. Rhumbline Advisers raised its holdings in N-able by 0.8% during the fourth 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. Finally, KBC Group NV raised its holdings in N-able by 104.7% during the fourth quarter. KBC Group NV now owns 5,490 shares of the company's stock valued at $51,000 after buying an additional 2,808 shares in the last quarter. Hedge funds and other institutional investors own 96.35% of the company's stock.
Wall Street Analyst Weigh In
Several equities analysts have weighed in on the company. Scotiabank raised their target price on N-able from $8.75 to $9.00 and gave the company a "sector perform" rating in a report on Friday, March 14th. Needham & Company LLC restated a "buy" rating and set a $10.00 target price on shares of N-able in a report on Monday, May 5th. Royal Bank of Canada cut their target price on N-able from $12.00 to $10.00 and set an "outperform" rating on the stock in a report on Tuesday, March 4th. BMO Capital Markets restated a "market perform" rating and set a $8.50 target price (down from $13.50) on shares of N-able in a report on Tuesday, March 4th. Finally, William Blair reiterated 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 given a buy rating to the company's stock. According to data from MarketBeat.com, N-able currently has an average rating of "Moderate Buy" and a consensus target price of $9.38.
Check Out Our Latest Stock Report on NABL
N-able Stock Performance
Shares of N-able stock traded down $0.09 during trading on Friday, reaching $7.79. The company's stock had a trading volume of 1,527,003 shares, compared to its average volume of 773,554. 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 business's fifty day moving average price is $7.20 and its 200-day moving average price is $8.66. The firm has a market cap of $1.47 billion, a price-to-earnings ratio of 38.95 and a beta of 0.57. N-able, Inc. has a one year low of $6.07 and a one year high of $15.49.
N-able (NYSE:NABL - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.08 EPS for the quarter, topping analysts' consensus estimates 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 6.31% and a net margin of 8.08%. The firm's revenue for the quarter was up 4.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.11 earnings per share. As a group, equities research analysts predict that N-able, Inc. will post 0.27 earnings per share for the current year.
N-able announced that its board has authorized a share repurchase program on Wednesday, March 12th that permits the company to buyback $75.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 5.7% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's leadership believes its shares are undervalued.
About N-able
(
Free Report)
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.
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