Topline Capital Management LLC Makes New $966,000 Investment in N-able, Inc. (NYSE:NABL)

Topline Capital Management LLC acquired a new stake in shares of N-able, Inc. (NYSE:NABL - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 103,412 shares of the company's stock, valued at approximately $966,000. Topline Capital Management LLC owned approximately 0.06% of N-able at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Blue Trust Inc. grew 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 worth $29,000 after purchasing an additional 1,528 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of N-able by 67.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,251 shares of the company's stock worth $30,000 after buying an additional 1,309 shares during the period. KBC Group NV grew 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 worth $51,000 after buying an additional 2,808 shares in the last quarter. New Age Alpha Advisors LLC purchased a new position in shares of N-able during the fourth quarter valued at $83,000. Finally, Impact Partnership Wealth LLC bought a new stake in shares of N-able in the fourth quarter valued at about $104,000. 96.35% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on NABL. Scotiabank increased their target price on shares of 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 reissued a "buy" rating and issued a $10.00 price objective on shares of N-able in a research note on Friday, March 14th. BMO Capital Markets reaffirmed a "market perform" rating and set a $8.50 target price (down previously from $13.50) on shares of N-able in a research report on Tuesday, March 4th. Royal Bank of Canada reduced their price target on N-able from $12.00 to $10.00 and set an "outperform" rating for the company in a research report on Tuesday, March 4th. Finally, William Blair reaffirmed an "outperform" rating 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 assigned a buy rating to the company. According to MarketBeat, N-able currently has an average rating of "Moderate Buy" and a consensus price target of $9.38.

N-able Stock Down 2.6 %

Shares of NABL traded down $0.19 during midday trading on Wednesday, hitting $6.98. 144,761 shares of the company's stock traded hands, compared to its average volume of 711,011. 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 stock has a market capitalization of $1.32 billion, a price-to-earnings ratio of 34.90 and a beta of 0.57. N-able, Inc. has a 1 year low of $6.07 and a 1 year high of $15.49. The firm's fifty day moving average is $7.42 and its 200-day moving average is $9.38.

N-able announced that its Board of Directors has authorized a stock repurchase program 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 shares through open market purchases. Shares repurchase programs are usually an indication that the company's board believes its shares are 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.