N-able, Inc. (NYSE:NABL) Shares Purchased by Two Sigma Advisers LP

Two Sigma Advisers LP raised its stake in N-able, Inc. (NYSE:NABL - Free Report) by 340.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 74,900 shares of the company's stock after buying an additional 57,900 shares during the period. Two Sigma Advisers LP's holdings in N-able were worth $700,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Barclays PLC grew its holdings in shares of N-able by 398.2% in the 3rd quarter. Barclays PLC now owns 143,095 shares of the company's stock worth $1,869,000 after acquiring an additional 114,374 shares during the period. SG Americas Securities LLC purchased a new stake in N-able during the fourth quarter worth $197,000. Blue Trust Inc. boosted 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 purchasing an additional 1,528 shares in the last quarter. KBC Group NV grew its holdings in 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 during the last quarter. Finally, Conestoga Capital Advisors LLC purchased a new position in shares of N-able in the fourth quarter valued at $1,006,000. 96.35% of the stock is owned by hedge funds and other institutional investors.

N-able Price Performance

NABL stock traded up $0.06 during trading on Friday, hitting $8.15. The stock had a trading volume of 1,027,001 shares, compared to its average volume of 782,224. The stock has a market cap of $1.54 billion, a price-to-earnings ratio of 40.73 and a beta of 0.61. The company has a debt-to-equity ratio of 0.43, a quick ratio of 3.01 and a current ratio of 3.01. The company's 50 day moving average price is $7.28 and its two-hundred day moving average price is $8.59. 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 issued its quarterly earnings results on Thursday, May 8th. The company reported $0.08 EPS for the quarter, topping analysts' consensus estimates of $0.06 by $0.02. The business had revenue of $118.20 million during the quarter, compared to the consensus estimate of $115.65 million. N-able had a net margin of 8.08% and a return on equity of 6.31%. The company's quarterly revenue was up 4.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.11 earnings per share. On average, sell-side analysts forecast that N-able, Inc. will post 0.27 EPS for the current fiscal year.

N-able announced that its board has initiated a stock repurchase program on Wednesday, March 12th that allows the company to buyback $75.00 million in outstanding shares. This buyback authorization allows the company to buy up to 5.7% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

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