N-able, Inc. (NYSE:NABL) Shares Bought by Lazard Asset Management LLC

Lazard Asset Management LLC lifted its holdings in N-able, Inc. (NYSE:NABL - Free Report) by 30.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 147,104 shares of the company's stock after acquiring an additional 34,264 shares during the period. Lazard Asset Management LLC owned approximately 0.08% of N-able worth $1,372,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in NABL. Norges Bank acquired a new stake in shares of N-able in the fourth quarter worth $3,450,000. 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 purchasing an additional 267,399 shares in the last quarter. 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 purchasing an additional 229,943 shares in the last quarter. Edgestream Partners L.P. grew its holdings in N-able by 86.5% during the 4th quarter. Edgestream Partners L.P. now owns 417,004 shares of the company's stock valued at $3,895,000 after purchasing an additional 193,387 shares in the last quarter. Finally, 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 purchasing an additional 179,305 shares in the last quarter. Institutional investors and hedge funds own 96.35% of the company's stock.

N-able Price Performance

Shares of NABL stock opened at $8.32 on Monday. The firm has a market cap of $1.57 billion, a P/E ratio of 41.58 and a beta of 0.57. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.01 and a quick ratio of 3.01. N-able, Inc. has a 1-year low of $6.07 and a 1-year high of $15.49. The firm has a fifty day moving average of $7.15 and a two-hundred day moving average of $8.91.

N-able (NYSE:NABL - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.02. The company had revenue of $118.20 million during the quarter, compared to analyst estimates of $115.65 million. N-able had a net margin of 8.08% and a return on equity of 6.31%. The firm's revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period last year, the business earned $0.11 EPS. As a group, research analysts anticipate that N-able, Inc. will post 0.27 earnings per share for the current fiscal year.

N-able declared that its board has initiated 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 often an indication that the company's board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. 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 report on Tuesday, March 4th. Needham & Company LLC reaffirmed a "buy" rating and set a $10.00 price target on shares of N-able in a report on Monday, May 5th. Scotiabank raised their price target on shares of N-able from $8.75 to $9.00 and gave the company a "sector perform" rating in a report on Friday, March 14th. BMO Capital Markets reaffirmed a "market perform" rating and set a $8.50 price target (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 investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company presently 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.

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