Legal & General Group Plc Boosts Stock Position in N-able, Inc. (NYSE:NABL)

Legal & General Group Plc grew its stake in shares of N-able, Inc. (NYSE:NABL - Free Report) by 9.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,074,348 shares of the company's stock after acquiring an additional 91,613 shares during the quarter. Legal & General Group Plc owned about 0.58% of N-able worth $10,034,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. HighTower Advisors LLC boosted its holdings in N-able by 116.2% in the third quarter. HighTower Advisors LLC now owns 30,644 shares of the company's stock worth $406,000 after purchasing an additional 16,468 shares during the last quarter. State Street Corp boosted its stake in shares of N-able by 2.4% in the 3rd quarter. State Street Corp now owns 3,164,709 shares of the company's stock worth $41,331,000 after buying an additional 75,003 shares during the last quarter. Barclays PLC grew its holdings in shares of N-able by 398.2% in the third quarter. Barclays PLC now owns 143,095 shares of the company's stock worth $1,869,000 after acquiring an additional 114,374 shares during the period. Geode Capital Management LLC increased its position in N-able by 1.0% during the third quarter. Geode Capital Management LLC now owns 1,597,651 shares of the company's stock valued at $20,870,000 after acquiring an additional 15,145 shares during the last quarter. Finally, 272 Capital LP lifted its holdings in N-able by 13.0% in the third quarter. 272 Capital LP now owns 221,663 shares of the company's stock valued at $2,895,000 after acquiring an additional 25,454 shares during the period. 96.35% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. BMO Capital Markets reaffirmed a "market perform" rating and set a $8.50 price target (down previously from $13.50) on shares of N-able in a research report on Tuesday, March 4th. William Blair restated an "outperform" rating on shares of N-able in a research note on Friday, March 14th. Scotiabank upped their price target 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. Royal Bank of Canada dropped their target price on shares of N-able from $12.00 to $10.00 and set an "outperform" rating for the company in a report on Tuesday, March 4th. Finally, Needham & Company LLC reissued a "buy" rating and set a $10.00 price target on shares of N-able in a report on Friday, March 14th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $9.38.

N-able Stock Up 4.1 %

NYSE NABL traded up $0.26 on Wednesday, hitting $6.60. The stock had a trading volume of 69,626 shares, compared to its average volume of 1,060,917. The business's fifty day moving average price is $7.72 and its 200 day moving average price is $9.57. The stock has a market cap of $1.25 billion, a price-to-earnings ratio of 33.00 and a beta of 0.57. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.01 and a quick ratio of 3.01. N-able, Inc. has a 52-week low of $6.07 and a 52-week high of $15.48.

N-able announced that its board has initiated a stock buyback program on Wednesday, March 12th that permits the company to repurchase $75.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 5.7% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's management believes its stock is undervalued.

About N-able

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.