Renaissance Technologies LLC Has $6.48 Million Holdings in N-able, Inc. (NYSE:NABL)

Renaissance Technologies LLC raised its holdings in N-able, Inc. (NYSE:NABL - Free Report) by 23.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 693,417 shares of the company's stock after purchasing an additional 131,117 shares during the quarter. Renaissance Technologies LLC owned 0.37% of N-able worth $6,477,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of NABL. Blue Trust Inc. boosted its stake in N-able by 95.5% in the fourth quarter. Blue Trust Inc. now owns 3,128 shares of the company's stock valued at $29,000 after buying an additional 1,528 shares in the last quarter. Rhumbline Advisers boosted its stake in shares of N-able by 0.8% in the 4th quarter. Rhumbline Advisers now owns 198,871 shares of the company's stock valued at $1,857,000 after purchasing an additional 1,586 shares in the last quarter. Harbor Capital Advisors Inc. grew its holdings in shares of N-able by 22.3% during the 4th quarter. Harbor Capital Advisors Inc. now owns 15,176 shares of the company's stock valued at $142,000 after purchasing an additional 2,764 shares during the last quarter. KBC Group NV increased its position in N-able by 104.7% during the 4th 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, Landscape Capital Management L.L.C. lifted its stake in N-able by 16.6% in the 4th quarter. Landscape Capital Management L.L.C. now owns 27,223 shares of the company's stock valued at $254,000 after purchasing an additional 3,877 shares during the last quarter. Institutional investors own 96.35% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on NABL. Scotiabank boosted their price target on N-able from $8.75 to $9.00 and gave the stock a "sector perform" rating in a report on Friday, March 14th. Needham & Company LLC reiterated a "buy" rating and set a $10.00 price target on shares of N-able in a report on Friday, March 14th. BMO Capital Markets restated a "market perform" rating and issued a $8.50 price objective (down from $13.50) on shares of N-able in a report on Tuesday, March 4th. William Blair reaffirmed an "outperform" rating on shares of N-able in a research report on Friday, March 14th. Finally, Royal Bank of Canada reduced their price target 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. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $9.38.

N-able Trading Up 2.4 %

NABL stock traded up $0.16 during midday trading on Thursday, hitting $6.69. The stock had a trading volume of 133,526 shares, compared to its average volume of 701,121. The company has a current ratio of 3.01, a quick ratio of 3.01 and a debt-to-equity ratio of 0.43. The firm has a market cap of $1.26 billion, a P/E ratio of 33.43 and a beta of 0.57. The business has a fifty day moving average price of $7.65 and a two-hundred day moving average price of $9.55. N-able, Inc. has a 1-year low of $5.80 and a 1-year high of $15.49.

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