Tudor Investment Corp ET AL Trims Stock Position in N-able, Inc. (NYSE:NABL)

Tudor Investment Corp ET AL cut its holdings in shares of N-able, Inc. (NYSE:NABL - Free Report) by 76.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 34,596 shares of the company's stock after selling 111,880 shares during the quarter. Tudor Investment Corp ET AL's holdings in N-able were worth $323,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Blue Trust Inc. boosted its stake in N-able by 95.5% during the fourth quarter. Blue Trust Inc. now owns 3,128 shares of the company's stock worth $29,000 after buying an additional 1,528 shares during the period. Aquatic Capital Management LLC acquired a new stake in N-able in the 4th quarter valued at approximately $29,000. Tower Research Capital LLC TRC raised its position in 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 purchasing an additional 1,309 shares during the period. KBC Group NV lifted 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 in the last quarter. Finally, New Age Alpha Advisors LLC purchased a new position in shares of N-able during the fourth quarter worth $83,000. 96.35% of the stock is owned by institutional investors and hedge funds.

N-able Stock Up 1.9%

N-able stock traded up $0.16 during midday trading on Thursday, reaching $8.24. The company's stock had a trading volume of 293,792 shares, compared to its average volume of 1,099,080. The company has a market cap of $1.56 billion, a P/E ratio of 41.18 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 $7.10 and a 200-day simple moving average of $9.02. N-able, Inc. has a fifty-two week low of $6.07 and a fifty-two week high of $15.48.

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

N-able announced that its board has approved a stock repurchase plan on Wednesday, March 12th that allows the company to repurchase $75.00 million in shares. This repurchase authorization allows the company to reacquire up to 5.7% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

NABL has been the topic of several research reports. Scotiabank increased their target price on N-able from $8.75 to $9.00 and gave the stock a "sector perform" rating in a research note on Friday, March 14th. Royal Bank of Canada decreased their price target 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. Needham & Company LLC restated a "buy" rating and issued a $10.00 price target on shares of N-able in a research note on Monday, May 5th. William Blair reiterated an "outperform" rating on shares of N-able in a report on Friday, March 14th. Finally, BMO Capital Markets reaffirmed a "market perform" rating and issued a $8.50 price target (down previously from $13.50) on shares of N-able in a research report on Tuesday, March 4th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus 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.