JPMorgan Chase & Co. Raises Stock Holdings in N-able, Inc. (NYSE:NABL)

JPMorgan Chase & Co. raised its position in N-able, Inc. (NYSE:NABL - Free Report) by 51.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 418,971 shares of the company's stock after purchasing an additional 143,065 shares during the quarter. JPMorgan Chase & Co. owned 0.23% of N-able worth $3,913,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Blue Trust Inc. raised its holdings in shares of 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 during the period. KBC Group NV increased its stake in N-able by 104.7% during the fourth quarter. KBC Group NV now owns 5,490 shares of the company's stock worth $51,000 after purchasing an additional 2,808 shares during the period. Impact Partnership Wealth LLC purchased a new stake in N-able during the fourth quarter worth about $104,000. KLP Kapitalforvaltning AS purchased a new position in shares of N-able in the fourth quarter valued at approximately $136,000. Finally, Harbor Capital Advisors Inc. boosted its stake in shares of N-able by 22.3% in the fourth quarter. Harbor Capital Advisors Inc. now owns 15,176 shares of the company's stock valued at $142,000 after purchasing an additional 2,764 shares during the period. 96.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on NABL shares. William Blair reiterated an "outperform" rating on shares of N-able in a report on Friday, March 14th. BMO Capital Markets reiterated a "market perform" rating and issued a $8.50 price objective (down from $13.50) on shares of N-able in a research note on Tuesday, March 4th. Royal Bank of Canada lowered their target price 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. Scotiabank increased their price target on N-able from $8.75 to $9.00 and gave the company a "sector perform" rating in a research report on Friday, March 14th. Finally, Needham & Company LLC reissued a "buy" rating and set a $10.00 price objective on shares of N-able in a research report on Friday, March 14th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $9.38.

N-able Stock Up 2.5 %

N-able stock traded up $0.17 during midday trading on Friday, reaching $6.88. The company's stock had a trading volume of 202,700 shares, compared to its average volume of 702,967. The company has a market cap of $1.30 billion, a P/E ratio of 34.38 and a beta of 0.57. The company has a quick ratio of 3.01, a current ratio of 3.01 and a debt-to-equity ratio of 0.43. The business has a 50-day simple moving average of $7.59 and a 200-day simple moving average of $9.51. N-able, Inc. has a fifty-two week low of $6.07 and a fifty-two week high of $15.49.

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

N-able 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.