Arrowstreet Capital Limited Partnership Grows Position in N-able, Inc. (NYSE:NABL)

Arrowstreet Capital Limited Partnership increased its position in N-able, Inc. (NYSE:NABL - Free Report) by 12.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 327,729 shares of the company's stock after buying an additional 36,242 shares during the period. Arrowstreet Capital Limited Partnership owned about 0.18% of N-able worth $3,061,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. boosted its stake 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 acquiring an additional 161,725 shares during the period. Bank of New York Mellon Corp boosted its stake in N-able by 3.5% in the 4th quarter. Bank of New York Mellon Corp now owns 487,320 shares of the company's stock worth $4,552,000 after purchasing an additional 16,253 shares during the period. Barclays PLC grew its holdings in N-able by 398.2% during the 3rd quarter. Barclays PLC now owns 143,095 shares of the company's stock valued at $1,869,000 after buying an additional 114,374 shares in the last quarter. Conestoga Capital Advisors LLC purchased a new stake in N-able during the 4th quarter valued at approximately $1,006,000. Finally, Edgestream Partners L.P. raised its position in shares of 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 during the last quarter. Hedge funds and other institutional investors own 96.35% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on NABL shares. Royal Bank of Canada dropped their target price 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. 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. William Blair reaffirmed an "outperform" rating on shares of N-able in a report on Friday, March 14th. BMO Capital Markets reissued a "market perform" rating and set a $8.50 price target (down from $13.50) on shares of N-able in a research note on Tuesday, March 4th. Finally, Scotiabank lifted their price objective on N-able from $8.75 to $9.00 and gave the stock a "sector perform" rating in a research note on Friday, March 14th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, N-able has an average rating of "Moderate Buy" and a consensus target price of $9.38.

N-able Trading Down 1.1 %

Shares of NYSE:NABL traded down $0.08 during trading on Tuesday, reaching $6.65. The company's stock had a trading volume of 83,081 shares, compared to its average volume of 693,282. The stock has a market capitalization of $1.26 billion, a PE ratio of 33.23 and a beta of 0.57. N-able, Inc. has a 12 month low of $6.21 and a 12 month high of $15.49. 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's 50 day simple moving average is $8.15 and its two-hundred day simple moving average is $9.82.

N-able announced that its board has authorized a stock buyback plan on Wednesday, March 12th that authorizes the company to buyback $75.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 5.7% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's board believes its stock is undervalued.

N-able 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.