Crescent Park Management L.P. Acquires 229,943 Shares of N-able, Inc. (NYSE:NABL)

Crescent Park Management L.P. grew its stake in shares of N-able, Inc. (NYSE:NABL - Free Report) by 32.0% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 947,984 shares of the company's stock after acquiring an additional 229,943 shares during the period. N-able comprises about 3.4% of Crescent Park Management L.P.'s portfolio, making the stock its 10th largest holding. Crescent Park Management L.P. owned 0.51% of N-able worth $8,854,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Norges Bank acquired a new stake in shares of N-able during the fourth quarter worth $3,450,000. Applied Fundamental Research LLC raised its holdings in N-able by 32.8% during the 4th quarter. Applied Fundamental Research LLC now owns 1,083,033 shares of the company's stock worth $10,116,000 after buying an additional 267,399 shares during the period. Edgestream Partners L.P. lifted its stake in N-able by 86.5% during the fourth quarter. Edgestream Partners L.P. now owns 417,004 shares of the company's stock valued at $3,895,000 after buying an additional 193,387 shares in the last quarter. Vanguard Group Inc. boosted 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 worth $87,146,000 after buying an additional 161,725 shares during the period. Finally, Monimus Capital Management LP acquired a new position in shares of N-able in the fourth quarter worth about $1,414,000. 96.35% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

NABL has been the subject of several research analyst reports. Scotiabank upped 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. William Blair restated an "outperform" rating on shares of N-able in a report on Friday, March 14th. Royal Bank of Canada lowered their price target on N-able from $12.00 to $10.00 and set an "outperform" rating on the stock in a report on Tuesday, March 4th. BMO Capital Markets reissued a "market perform" rating and issued a $8.50 price objective (down from $13.50) on shares of N-able in a research note on Tuesday, March 4th. Finally, Needham & Company LLC restated a "buy" rating and set a $10.00 price objective on shares of N-able in a research report on Friday, March 14th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, N-able presently has a consensus rating of "Moderate Buy" and an average target price of $9.38.

N-able Stock Down 4.2 %

Shares of N-able stock traded down $0.29 on Monday, hitting $6.50. 433,312 shares of the company traded hands, compared to its average volume of 1,049,344. N-able, Inc. has a 12-month low of $6.45 and a 12-month high of $15.48. 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 company has a market cap of $1.23 billion, a PE ratio of 32.51 and a beta of 0.57. The company has a 50-day moving average price of $8.65 and a 200 day moving average price of $10.15.

N-able announced that its board has authorized a share buyback program on Wednesday, March 12th that permits the company to buyback $75.00 million in shares. This buyback authorization permits the company to repurchase up to 5.7% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board of directors believes its shares are undervalued.

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.