Squarepoint Ops LLC Grows Holdings in N-able, Inc. (NYSE:NABL)

Squarepoint Ops LLC lifted its holdings in N-able, Inc. (NYSE:NABL - Free Report) by 567.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 86,207 shares of the company's stock after buying an additional 73,282 shares during the quarter. Squarepoint Ops LLC's holdings in N-able were worth $805,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Norges Bank acquired a new stake in N-able in the fourth quarter valued at $3,450,000. 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 worth $10,116,000 after purchasing an additional 267,399 shares during the period. Millennium Management LLC increased its holdings in shares of N-able by 48.6% in the 4th quarter. Millennium Management LLC now owns 791,871 shares of the company's stock valued at $7,396,000 after purchasing an additional 258,979 shares in the last quarter. Crescent Park Management L.P. lifted its stake 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 during the period. Finally, Edgestream Partners L.P. lifted its stake in shares of N-able by 86.5% in the fourth 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 during the period. Institutional investors and hedge funds own 96.35% of the company's stock.

N-able Price Performance

Shares of NYSE NABL traded up $0.22 on Tuesday, hitting $8.01. The company's stock had a trading volume of 1,501,975 shares, compared to its average volume of 778,020. The stock has a 50 day moving average of $7.22 and a 200-day moving average of $8.62. The company has a market capitalization of $1.51 billion, a price-to-earnings ratio of 40.03 and a beta of 0.57. N-able, Inc. has a 12-month low of $6.07 and a 12-month high of $15.49. 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 (NYSE:NABL - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.02. N-able had a return on equity of 6.31% and a net margin of 8.08%. The firm had revenue of $118.20 million during the quarter, compared to the consensus estimate of $115.65 million. During the same period in the previous year, the firm posted $0.11 EPS. The company's quarterly revenue was up 4.0% compared to the same quarter last year. As a group, research analysts predict that N-able, Inc. will post 0.27 EPS for the current year.

N-able declared that its board has authorized a share buyback program on Wednesday, March 12th that authorizes the company to repurchase $75.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 5.7% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

NABL has been the topic of several recent analyst reports. 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 research report on Tuesday, March 4th. Scotiabank upped their price target on N-able from $8.75 to $9.00 and gave the stock a "sector perform" rating in a report on Friday, March 14th. Needham & Company LLC reaffirmed a "buy" rating and issued a $10.00 price objective on shares of N-able in a research note on Monday, May 5th. Royal Bank of Canada reduced their price objective on N-able from $12.00 to $10.00 and set an "outperform" rating for the company in a report on Tuesday, March 4th. Finally, William Blair reissued an "outperform" rating on shares of N-able 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, the company has a consensus rating of "Moderate Buy" and an average price target of $9.38.

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.