Two Sigma Investments LP lifted its holdings in shares of N-able, Inc. (NYSE:NABL - Free Report) by 46.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 159,612 shares of the company's stock after buying an additional 50,926 shares during the quarter. Two Sigma Investments LP owned about 0.09% of N-able worth $1,491,000 at the end of the most recent quarter.
Other institutional investors also recently modified their holdings of the company. Blue Trust Inc. boosted its stake in N-able by 95.5% during the 4th 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 bought a new position in N-able in the fourth quarter valued at approximately $29,000. Tower Research Capital LLC TRC lifted its stake 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 valued at $30,000 after buying an additional 1,309 shares in the last quarter. KBC Group NV lifted its stake 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 buying an additional 2,808 shares in the last quarter. Finally, New Age Alpha Advisors LLC bought a new position in N-able in the fourth quarter valued at approximately $83,000. Institutional investors and hedge funds own 96.35% of the company's stock.
Wall Street Analysts Forecast Growth
A number of brokerages have weighed in on NABL. Royal Bank of Canada cut their price target on shares of N-able from $12.00 to $10.00 and set an "outperform" rating on the stock in a research note on Tuesday, March 4th. 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 research note on Tuesday, March 4th. William Blair reaffirmed an "outperform" rating on shares of N-able in a research note on Friday, March 14th. Needham & Company LLC reaffirmed a "buy" rating and issued a $10.00 price target on shares of N-able in a research note on Monday, May 5th. Finally, Scotiabank boosted their price objective 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 data from MarketBeat, N-able has a consensus rating of "Moderate Buy" and a consensus price target of $9.38.
Check Out Our Latest Stock Report on N-able
N-able Stock Up 0.7%
NABL traded up $0.06 during trading on Friday, reaching $8.15. 1,027,001 shares of the stock were exchanged, compared to its average volume of 782,224. The stock has a market cap of $1.54 billion, a P/E ratio of 40.73 and a beta of 0.61. N-able, Inc. has a twelve month low of $6.07 and a twelve month high of $15.49. The stock's 50 day moving average price is $7.28 and its two-hundred day moving average price is $8.59. 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 (NYSE:NABL - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.08 EPS for the quarter, beating the consensus estimate of $0.06 by $0.02. N-able had a net margin of 8.08% and a return on equity of 6.31%. The firm had revenue of $118.20 million for the quarter, compared to the consensus estimate of $115.65 million. During the same period in the previous year, the company earned $0.11 earnings per share. The company's quarterly revenue was up 4.0% on a year-over-year basis. Equities analysts expect that N-able, Inc. will post 0.27 EPS for the current year.
N-able declared that its board has approved a stock buyback plan on Wednesday, March 12th that authorizes the company to repurchase $75.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 5.7% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's board of directors believes its shares are undervalued.
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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