N-able, Inc. (NYSE:NABL) Shares Acquired by Squarepoint Ops LLC

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

Other hedge funds and other institutional investors have also bought and sold shares of the company. Blue Trust Inc. increased its holdings in N-able by 95.5% in the 4th quarter. Blue Trust Inc. now owns 3,128 shares of the company's stock worth $29,000 after purchasing an additional 1,528 shares in the last quarter. Aquatic Capital Management LLC bought a new stake in N-able during the fourth quarter worth $29,000. Tower Research Capital LLC TRC increased its position in N-able by 67.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,251 shares of the company's stock worth $30,000 after buying an additional 1,309 shares during the last quarter. KBC Group NV grew its position in shares of N-able by 104.7% in the fourth quarter. KBC Group NV now owns 5,490 shares of the company's stock valued at $51,000 after purchasing an additional 2,808 shares in the last quarter. Finally, New Age Alpha Advisors LLC bought a new stake in N-able during the fourth quarter valued at $83,000. Institutional investors and hedge funds own 96.35% of the company's stock.

N-able Stock Up 0.8%

Shares of NABL traded up $0.07 during trading hours on Thursday, hitting $8.09. The company had a trading volume of 862,878 shares, compared to its average volume of 779,564. The company's fifty day moving average price is $7.26 and its two-hundred day moving average price is $8.60. N-able, Inc. has a one year low of $6.07 and a one year high of $15.49. The company has a market capitalization of $1.53 billion, a PE ratio of 40.43 and a beta of 0.61. The company has a current ratio of 3.01, a quick ratio of 3.01 and a debt-to-equity ratio of 0.43.

N-able (NYSE:NABL - Get Free Report) last posted its 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 firm had revenue of $118.20 million for the quarter, compared to analyst estimates of $115.65 million. N-able had a return on equity of 6.31% and a net margin of 8.08%. N-able's revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period last year, the company earned $0.11 earnings per share. As a group, equities analysts forecast that N-able, Inc. will post 0.27 earnings per share for the current fiscal year.

N-able announced that its Board of Directors has authorized a share buyback plan on Wednesday, March 12th that permits the company to repurchase $75.00 million in shares. This repurchase authorization permits the company to purchase up to 5.7% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's management believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. William Blair reaffirmed an "outperform" rating on shares of N-able in a research note on Friday, March 14th. Scotiabank upped their price target on N-able from $8.75 to $9.00 and gave the stock a "sector perform" rating in a research note on Friday, March 14th. BMO Capital Markets reissued 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. Needham & Company LLC restated a "buy" rating and issued a $10.00 price objective on shares of N-able in a research note on Monday, May 5th. Finally, Royal Bank of Canada decreased their price target on N-able from $12.00 to $10.00 and set an "outperform" rating on the stock in a report on Tuesday, March 4th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, N-able currently 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.