N-able, Inc. (NYSE:NABL) Shares Sold by Sea Cliff Partners Management LP

Sea Cliff Partners Management LP reduced its position in shares of N-able, Inc. (NYSE:NABL - Free Report) by 53.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,072,790 shares of the company's stock after selling 1,226,953 shares during the period. N-able comprises approximately 3.5% of Sea Cliff Partners Management LP's portfolio, making the stock its 14th largest position. Sea Cliff Partners Management LP owned approximately 0.58% of N-able worth $10,020,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of NABL. Vanguard Group Inc. lifted its holdings in N-able by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 9,330,440 shares of the company's stock worth $87,146,000 after buying an additional 161,725 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of N-able by 5.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,529,875 shares of the company's stock worth $32,969,000 after acquiring an additional 179,305 shares in the last quarter. Applied Fundamental Research LLC lifted its stake in N-able by 32.8% during the fourth quarter. Applied Fundamental Research LLC now owns 1,083,033 shares of the company's stock worth $10,116,000 after purchasing an additional 267,399 shares during the last quarter. Legal & General Group Plc boosted its holdings in 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 purchasing an additional 91,613 shares in the last quarter. Finally, Crescent Park Management L.P. increased its stake in 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 purchasing an additional 229,943 shares during the last quarter. Institutional investors and hedge funds own 96.35% of the company's stock.

N-able Stock Up 2.0%

NABL stock opened at $8.32 on Friday. The company has a market cap of $1.57 billion, a price-to-earnings ratio of 41.58 and a beta of 0.57. The company has a fifty day moving average price of $7.15 and a 200 day moving average price of $8.96. 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 12 month low of $6.07 and a 12 month high of $15.49.

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

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

Wall Street Analyst Weigh In

Several analysts have recently weighed in on NABL shares. BMO Capital Markets restated a "market perform" rating and set a $8.50 price objective (down previously from $13.50) on shares of N-able in a research report on Tuesday, March 4th. Scotiabank boosted their price target 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. Needham & Company LLC restated a "buy" rating and issued a $10.00 price objective on shares of N-able in a research note on Monday, May 5th. Royal Bank of Canada cut their target price on N-able from $12.00 to $10.00 and set an "outperform" rating on the stock in a research report on Tuesday, March 4th. Finally, William Blair reissued an "outperform" rating 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 assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $9.38.

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.

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