Sea Cliff Partners Management LP Sells 1,226,953 Shares of N-able, Inc. (NYSE:NABL)

Sea Cliff Partners Management LP reduced its stake in shares of N-able, Inc. (NYSE:NABL - Free Report) by 53.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 1,072,790 shares of the company's stock after selling 1,226,953 shares during the period. N-able makes up approximately 3.5% of Sea Cliff Partners Management LP's holdings, making the stock its 14th biggest holding. Sea Cliff Partners Management LP owned 0.58% of N-able worth $10,020,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of N-able by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 9,330,440 shares of the company's stock valued at $87,146,000 after purchasing an additional 161,725 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of N-able by 5.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,529,875 shares of the company's stock valued at $32,969,000 after buying an additional 179,305 shares in the last quarter. Applied Fundamental Research LLC grew its stake in shares of N-able by 32.8% in the fourth quarter. Applied Fundamental Research LLC now owns 1,083,033 shares of the company's stock valued at $10,116,000 after buying an additional 267,399 shares in the last quarter. Legal & General Group Plc grew its stake in shares of N-able by 9.3% in the fourth quarter. Legal & General Group Plc now owns 1,074,348 shares of the company's stock valued at $10,034,000 after buying an additional 91,613 shares in the last quarter. Finally, Crescent Park Management L.P. grew its stake in shares of N-able by 32.0% in the fourth 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. 96.35% of the stock is currently owned by institutional investors and hedge funds.

N-able Trading Up 0.6%

Shares of N-able stock traded up $0.05 on Thursday, hitting $7.87. The stock had a trading volume of 356,890 shares, compared to its average volume of 766,015. The stock has a 50 day moving average of $7.17 and a 200 day moving average of $8.87. N-able, Inc. has a twelve month low of $6.07 and a twelve month high of $15.49. The company has a debt-to-equity ratio of 0.43, a quick ratio of 3.01 and a current ratio of 3.01. The firm has a market capitalization of $1.49 billion, a P/E ratio of 39.33 and a beta of 0.57.

N-able (NYSE:NABL - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.02. The company had revenue of $118.20 million during the quarter, compared to analyst estimates of $115.65 million. N-able had a net margin of 8.08% and a return on equity of 6.31%. N-able's revenue for the quarter was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.11 EPS. Sell-side analysts expect that N-able, Inc. will post 0.27 earnings per share for the current fiscal year.

N-able announced that its Board of Directors has authorized a stock buyback plan on Wednesday, March 12th that authorizes the company to buyback $75.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 5.7% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's leadership believes its stock is undervalued.

Analyst Ratings Changes

Several research firms recently weighed in on NABL. Needham & Company LLC reissued a "buy" rating and issued a $10.00 target price on shares of N-able in a research note on Monday, May 5th. BMO Capital Markets reaffirmed a "market perform" rating and set a $8.50 price objective (down from $13.50) on shares of N-able in a research report on Tuesday, March 4th. Royal Bank of Canada reduced their price objective on shares of N-able from $12.00 to $10.00 and set an "outperform" rating for the company in a research report on Tuesday, March 4th. Scotiabank lifted 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. Finally, William Blair reaffirmed an "outperform" rating on shares of N-able 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's stock. According to data from MarketBeat, N-able presently has a consensus rating of "Moderate Buy" and a consensus price target of $9.38.

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.