N-able, Inc. (NYSE:NABL) Shares Sold by Tudor Investment Corp ET AL

Tudor Investment Corp ET AL trimmed its holdings in shares of N-able, Inc. (NYSE:NABL - Free Report) by 76.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). 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 SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Norges Bank acquired a new position in shares of N-able during the fourth quarter valued at approximately $3,450,000. Applied Fundamental Research LLC raised its stake in N-able by 32.8% in the 4th quarter. Applied Fundamental Research LLC now owns 1,083,033 shares of the company's stock valued at $10,116,000 after purchasing an additional 267,399 shares during the last quarter. Crescent Park Management L.P. raised its stake in N-able by 32.0% in the 4th 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. Edgestream Partners L.P. lifted its holdings in N-able by 86.5% in the 4th quarter. Edgestream Partners L.P. now owns 417,004 shares of the company's stock valued at $3,895,000 after purchasing an additional 193,387 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in 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 purchasing an additional 179,305 shares during the last quarter. Hedge funds and other institutional investors own 96.35% of the company's stock.

Wall Street Analyst Weigh In

NABL has been the subject of a number of recent research reports. BMO Capital Markets reissued a "market perform" rating and issued a $8.50 price target (down from $13.50) on shares of N-able in a research note on Tuesday, March 4th. Scotiabank raised their target price 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. 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. William Blair reissued an "outperform" rating on shares of N-able in a research note on Friday, March 14th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $10.00 target price on shares of N-able in a research note on Monday, May 5th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $9.38.

N-able Trading Down 0.4 %

NABL opened at $7.52 on Friday. The stock has a market capitalization of $1.42 billion, a PE ratio of 37.60 and a beta of 0.57. N-able, Inc. has a one year low of $6.07 and a one year 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 business's 50 day moving average price is $7.06 and its 200 day moving average price is $9.11.

N-able declared that its board has authorized a share repurchase program on Wednesday, March 12th that allows the company to buyback $75.00 million in shares. This buyback authorization allows the company to purchase up to 5.7% of its stock through open market purchases. Stock buyback 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.

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