Bank of America Corp DE Sells 125,448 Shares of N-able, Inc. (NYSE:NABL)

Bank of America Corp DE cut its stake in shares of N-able, Inc. (NYSE:NABL - Free Report) by 81.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,063 shares of the company's stock after selling 125,448 shares during the quarter. Bank of America Corp DE's holdings in N-able were worth $271,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of N-able by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 9,330,440 shares of the company's stock valued at $87,146,000 after acquiring an additional 161,725 shares in the last quarter. BNP Paribas Financial Markets acquired a new stake in N-able during the 4th quarter valued at $525,000. Crescent Park Management L.P. lifted its holdings in shares of N-able by 32.0% in the fourth 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. Bank of New York Mellon Corp boosted its position in shares of N-able by 3.5% in the fourth quarter. Bank of New York Mellon Corp now owns 487,320 shares of the company's stock worth $4,552,000 after buying an additional 16,253 shares during the period. Finally, Barclays PLC boosted its position in shares of N-able by 398.2% in the third quarter. Barclays PLC now owns 143,095 shares of the company's stock worth $1,869,000 after buying an additional 114,374 shares during the period. 96.35% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. William Blair reissued an "outperform" rating on shares of N-able in a research note on Friday, March 14th. Needham & Company LLC reissued a "buy" rating and issued a $10.00 price target on shares of N-able in a research report on Monday, May 5th. Royal Bank Of Canada dropped their price objective on shares of N-able from $12.00 to $10.00 and set an "outperform" rating on the stock in a research note on Tuesday, March 4th. BMO Capital Markets reissued a "market perform" rating and set a $8.50 target price (down previously from $13.50) on shares of N-able in a research note on Tuesday, March 4th. Finally, Scotiabank boosted 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. Two research analysts have rated the stock with a hold rating and three have assigned 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.

N-able Stock Up 2.3%

NYSE:NABL traded up $0.18 during mid-day trading on Tuesday, reaching $8.13. The stock had a trading volume of 1,616,262 shares, compared to its average volume of 793,252. The stock has a market cap of $1.54 billion, a P/E ratio of 90.33 and a beta of 0.61. The business's 50 day moving average is $7.47 and its 200 day moving average is $8.47. 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 fifty-two week low of $6.07 and a fifty-two week high of $15.49.

N-able (NYSE:NABL - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.08 EPS for the quarter, topping the consensus estimate of $0.06 by $0.02. The company had revenue of $118.20 million for the quarter, compared to analyst estimates of $115.65 million. N-able had a net margin of 3.47% and a return on equity of 5.20%. N-able's quarterly revenue was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.11 EPS. As a group, sell-side analysts predict that N-able, Inc. will post 0.27 earnings per share for the current year.

N-able announced that its Board of Directors has authorized a share repurchase program on Wednesday, March 12th that authorizes the company to repurchase $75.00 million in shares. This repurchase authorization authorizes the company to buy up to 5.7% of its shares through open market purchases. Shares 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.