N-able, Inc. (NYSE:NABL) Position Decreased by Nuveen Asset Management LLC

Nuveen Asset Management LLC lessened its holdings in shares of N-able, Inc. (NYSE:NABL - Free Report) by 29.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 419,056 shares of the company's stock after selling 173,654 shares during the period. Nuveen Asset Management LLC owned 0.23% of N-able worth $3,914,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in NABL. Blue Trust Inc. raised its position in 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 during the last quarter. Aquatic Capital Management LLC acquired a new position in N-able during the fourth quarter worth about $29,000. Tower Research Capital LLC TRC raised its position in N-able by 67.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,251 shares of the company's stock worth $30,000 after acquiring an additional 1,309 shares during the last quarter. KBC Group NV raised its position in N-able by 104.7% during the fourth quarter. KBC Group NV now owns 5,490 shares of the company's stock worth $51,000 after acquiring an additional 2,808 shares during the last quarter. Finally, New Age Alpha Advisors LLC acquired a new position in shares of N-able in the fourth quarter valued at approximately $83,000. 96.35% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently issued reports on NABL. BMO Capital Markets restated a "market perform" rating and issued a $8.50 target price (down from $13.50) on shares of N-able in a report on Tuesday, March 4th. Needham & Company LLC reiterated a "buy" rating and set a $10.00 price objective on shares of N-able in a research note on Monday, May 5th. Royal Bank of Canada decreased their price objective on shares of N-able from $12.00 to $10.00 and set an "outperform" rating for the company in a research note on Tuesday, March 4th. William Blair reissued an "outperform" rating on shares of N-able in a research report on Friday, March 14th. Finally, Scotiabank boosted their target price 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. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $9.38.

N-able Stock Up 0.8%

NABL traded up $0.07 during trading on Thursday, hitting $8.09. The company had a trading volume of 862,878 shares, compared to its average volume of 779,563. The company has a market cap of $1.53 billion, a PE ratio of 40.43 and a beta of 0.61. The business has a 50-day moving average of $7.26 and a 200-day moving average of $8.60. 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.

N-able (NYSE:NABL - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.08 earnings per share 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 business had revenue of $118.20 million for the quarter, compared to analysts' expectations of $115.65 million. During the same quarter last year, the company earned $0.11 EPS. The company's revenue for the quarter was up 4.0% compared to the same quarter last year. As a group, analysts forecast that N-able, Inc. will post 0.27 earnings per share for the current year.

N-able declared that its Board of Directors has initiated a share buyback plan on Wednesday, March 12th that authorizes the company to repurchase $75.00 million in shares. This repurchase authorization authorizes the company to reacquire up to 5.7% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's leadership believes its stock is 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.