CenterBook Partners LP Has $3.87 Million Holdings in N-able, Inc. (NYSE:NABL)

CenterBook Partners LP lowered its stake in N-able, Inc. (NYSE:NABL - Free Report) by 39.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 414,095 shares of the company's stock after selling 271,133 shares during the quarter. CenterBook Partners LP owned 0.22% of N-able worth $3,868,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank purchased a new stake in shares of N-able in the 4th quarter valued at approximately $3,450,000. Applied Fundamental Research LLC grew its holdings in shares of 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 purchasing an additional 267,399 shares during the period. Crescent Park Management L.P. increased its position in shares of N-able by 32.0% during the 4th quarter. Crescent Park Management L.P. now owns 947,984 shares of the company's stock worth $8,854,000 after purchasing an additional 229,943 shares during the last quarter. Edgestream Partners L.P. lifted its position in N-able by 86.5% in 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. Finally, Vanguard Group Inc. boosted its stake in N-able by 1.8% during 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. Hedge funds and other institutional investors own 96.35% of the company's stock.

N-able Price Performance

Shares of N-able stock traded down $0.13 during trading on Tuesday, hitting $6.59. 159,070 shares of the company's stock traded hands, compared to its average volume of 693,591. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.01 and a quick ratio of 3.01. The firm's fifty day moving average price is $8.15 and its 200 day moving average price is $9.82. The company has a market cap of $1.25 billion, a PE ratio of 32.95 and a beta of 0.57. N-able, Inc. has a twelve month low of $6.21 and a twelve month high of $15.49.

Remove Ads

N-able declared that its Board of Directors has initiated a share repurchase plan on Wednesday, March 12th that allows the company to repurchase $75.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 5.7% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's board believes its shares are undervalued.

Wall Street Analyst Weigh In

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

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.