Two Sigma Investments LP boosted its position in N-able, Inc. (NYSE:NABL - Free Report) by 46.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 159,612 shares of the company's stock after buying an additional 50,926 shares during the period. Two Sigma Investments LP owned approximately 0.09% of N-able worth $1,491,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Blue Trust Inc. increased its position in N-able by 95.5% in the 4th quarter. Blue Trust Inc. now owns 3,128 shares of the company's stock valued at $29,000 after buying an additional 1,528 shares in the last quarter. Aquatic Capital Management LLC bought a new stake in N-able in the 4th quarter valued at about $29,000. Tower Research Capital LLC TRC boosted its stake in N-able by 67.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,251 shares of the company's stock valued at $30,000 after purchasing an additional 1,309 shares during the last quarter. KBC Group NV boosted its stake in N-able by 104.7% during the 4th 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, New Age Alpha Advisors LLC acquired a new position in N-able during the 4th quarter valued at about $83,000. 96.35% of the stock is owned by institutional investors.
N-able Stock Performance
NABL stock traded up $0.07 during midday trading on Thursday, reaching $8.09. 862,878 shares of the company's stock traded hands, compared to its average volume of 779,175. The company has a 50-day moving average price of $7.24 and a two-hundred day moving average price of $8.61. The company has a debt-to-equity ratio of 0.43, a quick ratio of 3.01 and a current ratio of 3.01. N-able, Inc. has a 52 week low of $6.07 and a 52 week high of $15.49. The firm has a market capitalization of $1.53 billion, a PE ratio of 40.43 and a beta of 0.61.
N-able (NYSE:NABL - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported $0.08 earnings per share (EPS) for the quarter, beating 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 in the previous year, the firm posted $0.11 EPS. The business's revenue for the quarter was up 4.0% compared to the same quarter last year. As a group, equities analysts anticipate that N-able, Inc. will post 0.27 EPS for the current year.
N-able announced that its Board of Directors has initiated a share buyback program on Wednesday, March 12th that allows the company to repurchase $75.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 5.7% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's board believes its stock is undervalued.
Analysts Set New Price Targets
A number of equities analysts have issued reports on NABL shares. Scotiabank lifted their price target on N-able from $8.75 to $9.00 and gave the company a "sector perform" rating in a research note on Friday, March 14th. Royal Bank of Canada cut their price target on N-able from $12.00 to $10.00 and set an "outperform" rating for the company in a research note on Tuesday, March 4th. BMO Capital Markets restated a "market perform" rating and issued a $8.50 target price (down previously from $13.50) on shares of N-able in a research note on Tuesday, March 4th. William Blair restated an "outperform" rating on shares of N-able in a research note on Friday, March 14th. Finally, Needham & Company LLC restated a "buy" rating and issued a $10.00 target price on shares of N-able in a research note on Monday, May 5th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $9.38.
View Our Latest Research Report on N-able
About N-able
(
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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