Woodline Partners LP bought a new stake in shares of N-able, Inc. (NYSE:NABL - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 47,415 shares of the company's stock, valued at approximately $443,000.
Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its stake in N-able by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 9,330,440 shares of the company's stock worth $87,146,000 after purchasing an additional 161,725 shares in the last quarter. Crescent Park Management L.P. raised its position in shares of N-able by 32.0% during the 4th quarter. Crescent Park Management L.P. now owns 947,984 shares of the company's stock valued at $8,854,000 after buying an additional 229,943 shares in the last quarter. BNP Paribas Financial Markets purchased a new stake in shares of N-able during the 4th quarter valued at about $525,000. Bank of New York Mellon Corp raised its position in shares of N-able by 3.5% during the 4th quarter. Bank of New York Mellon Corp now owns 487,320 shares of the company's stock valued at $4,552,000 after buying an additional 16,253 shares in the last quarter. Finally, Barclays PLC raised its position in shares of N-able by 398.2% during the 3rd quarter. Barclays PLC now owns 143,095 shares of the company's stock valued at $1,869,000 after buying an additional 114,374 shares in the last quarter. Hedge funds and other institutional investors own 96.35% of the company's stock.
N-able Trading Down 1.1%
NYSE:NABL traded down $0.09 during mid-day trading on Friday, hitting $7.79. 1,527,003 shares of the stock traded hands, compared to its average volume of 773,554. The stock has a market capitalization of $1.47 billion, a price-to-earnings ratio of 38.95 and a beta of 0.57. N-able, Inc. has a 52 week low of $6.07 and a 52 week high of $15.49. The firm's 50 day moving average is $7.20 and its two-hundred day moving average is $8.64. The company has a quick ratio of 3.01, a current ratio of 3.01 and a debt-to-equity ratio of 0.43.
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, beating the consensus estimate of $0.06 by $0.02. The company had revenue of $118.20 million for 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 firm's revenue was up 4.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.11 EPS. On average, equities research analysts predict that N-able, Inc. will post 0.27 earnings per share for the current year.
N-able declared that its Board of Directors has approved a share buyback program on Wednesday, March 12th that authorizes the company to repurchase $75.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 5.7% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's board of directors believes its shares are undervalued.
Analyst Ratings Changes
Several analysts have recently issued reports on the stock. Scotiabank upped their target price on shares of N-able from $8.75 to $9.00 and gave the company a "sector perform" rating in a research report on Friday, March 14th. Royal Bank of Canada decreased their target price on shares of N-able from $12.00 to $10.00 and set an "outperform" rating on the stock in a research report on Tuesday, March 4th. William Blair restated an "outperform" rating on shares of N-able in a research report on Friday, March 14th. 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. Finally, 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. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, N-able currently has a consensus rating of "Moderate Buy" and an average price target of $9.38.
Check Out Our Latest Stock Analysis on N-able
N-able Profile
(
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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