PDT Partners LLC Has $104,000 Holdings in N-able, Inc. (NYSE:NABL)

PDT Partners LLC decreased its position in N-able, Inc. (NYSE:NABL - Free Report) by 91.3% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 11,172 shares of the company's stock after selling 116,806 shares during the period. PDT Partners LLC's holdings in N-able were worth $104,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Blue Trust Inc. grew its stake in N-able by 95.5% in the fourth quarter. Blue Trust Inc. now owns 3,128 shares of the company's stock valued at $29,000 after purchasing an additional 1,528 shares in the last quarter. Aquatic Capital Management LLC acquired a new stake in shares of N-able in the 4th quarter valued at approximately $29,000. Tower Research Capital LLC TRC grew its stake in shares of 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 increased its holdings 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 buying an additional 2,808 shares during the last quarter. Finally, New Age Alpha Advisors LLC bought a new stake in N-able during the fourth quarter worth $83,000. 96.35% of the stock is owned by institutional investors.

N-able Stock Performance

Shares of N-able stock traded up $0.02 during trading on Wednesday, reaching $7.13. The company's stock had a trading volume of 1,564,630 shares, compared to its average volume of 724,218. 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's 50-day moving average price is $7.11 and its 200-day moving average price is $9.19. N-able, Inc. has a 52 week low of $6.07 and a 52 week high of $15.49. The firm has a market cap of $1.35 billion, a PE ratio of 35.65 and a beta of 0.57.

N-able declared that its Board of Directors has approved a stock buyback program on Wednesday, March 12th that allows the company to buyback $75.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 5.7% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's management believes its shares are undervalued.

Analysts Set New Price Targets

NABL has been the topic of several recent analyst reports. 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 note on Friday, March 14th. BMO Capital Markets reissued a "market perform" rating and set a $8.50 target price (down from $13.50) on shares of N-able in a report on Tuesday, March 4th. 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 report on Tuesday, March 4th. Needham & Company LLC reiterated a "buy" rating and issued a $10.00 price objective on shares of N-able in a report on Monday. Finally, William Blair restated an "outperform" rating on shares of N-able in a research note 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, the stock has an average rating of "Moderate Buy" and an average 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.