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 its most recent filing with the Securities & Exchange Commission. The firm owned 29,063 shares of the company's stock after selling 125,448 shares during the period. Bank of America Corp DE's holdings in N-able were worth $271,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of N-able by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 9,330,440 shares of the company's stock valued at $87,146,000 after buying an additional 161,725 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of 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 buying an additional 179,305 shares during the period. Applied Fundamental Research LLC grew its stake in shares of 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 buying an additional 267,399 shares during the period. Legal & General Group Plc boosted its position in N-able by 9.3% during the 4th quarter. Legal & General Group Plc now owns 1,074,348 shares of the company's stock worth $10,034,000 after purchasing an additional 91,613 shares during the period. Finally, Crescent Park Management L.P. boosted its position 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 worth $8,854,000 after purchasing an additional 229,943 shares during the period. 96.35% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
NABL has been the subject of a number of research reports. Needham & Company LLC reaffirmed a "buy" rating and set a $10.00 price target on shares of N-able in a research report on Monday, May 5th. William Blair reaffirmed an "outperform" rating on shares of N-able in a research 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 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. Finally, Royal Bank of Canada decreased 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. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, N-able presently has an average rating of "Moderate Buy" and a consensus target price of $9.38.
Check Out Our Latest Stock Report on N-able
N-able Stock Down 4.0%
NABL stock traded down $0.32 during trading on Friday, reaching $7.76. The stock had a trading volume of 793,124 shares, compared to its average volume of 787,367. N-able, Inc. has a 1-year low of $6.07 and a 1-year high of $15.49. The company has a current ratio of 3.01, a quick ratio of 3.01 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $1.47 billion, a P/E ratio of 38.80 and a beta of 0.61. The firm has a fifty day moving average price of $7.41 and a 200 day moving average price of $8.51.
N-able (NYSE:NABL - Get Free Report) last issued 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. N-able had a net margin of 8.08% and a return on equity of 6.31%. The firm had revenue of $118.20 million for the quarter, compared to analyst estimates of $115.65 million. During the same quarter in the previous year, the business posted $0.11 EPS. The firm's revenue was up 4.0% compared to the same quarter last year. On average, equities analysts anticipate that N-able, Inc. will post 0.27 earnings per share for the current year.
N-able announced that its Board of Directors has initiated a share repurchase plan on Wednesday, March 12th that authorizes the company to repurchase $75.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 5.7% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board believes its stock is undervalued.
N-able Company Profile
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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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