Dimensional Fund Advisors LP Increases Stock Holdings in N-able, Inc. (NYSE:NABL)

Dimensional Fund Advisors LP lifted its stake in shares of N-able, Inc. (NYSE:NABL - Free Report) by 5.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,529,875 shares of the company's stock after acquiring an additional 179,305 shares during the quarter. Dimensional Fund Advisors LP owned approximately 1.90% of N-able worth $32,969,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Blue Trust Inc. lifted its holdings in N-able by 95.5% during the fourth quarter. Blue Trust Inc. now owns 3,128 shares of the company's stock valued at $29,000 after purchasing an additional 1,528 shares in the last quarter. KBC Group NV raised its position in shares of N-able by 104.7% during the 4th quarter. KBC Group NV now owns 5,490 shares of the company's stock valued at $51,000 after purchasing an additional 2,808 shares during the period. New Age Alpha Advisors LLC purchased a new position in shares of N-able during the 4th quarter valued at $83,000. Impact Partnership Wealth LLC bought a new position in N-able in the 4th quarter worth $104,000. Finally, KLP Kapitalforvaltning AS purchased a new stake in N-able in the 4th quarter worth $136,000. 96.35% of the stock is owned by hedge funds and other institutional investors.

N-able Trading Down 0.4%

Shares of NABL traded down $0.03 during midday trading on Friday, hitting $7.52. The stock had a trading volume of 1,752,034 shares, compared to its average volume of 735,710. The stock's 50 day moving average is $7.06 and its 200 day moving average is $9.06. The firm has a market cap of $1.42 billion, a PE ratio of 37.60 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 1 year low of $6.07 and a 1 year high of $15.49.

N-able announced that its board has authorized a share 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 purchase up to 5.7% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. 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 report on Tuesday, March 4th. Royal Bank of Canada lowered 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 note on Friday, March 14th. Needham & Company LLC restated a "buy" rating and issued a $10.00 target price on shares of N-able in a report on Monday, May 5th. Finally, William Blair reaffirmed an "outperform" rating on shares of N-able in a report on Friday, March 14th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus 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.