N-able, Inc. (NYSE:NABL) Shares Sold by Gabelli Funds LLC

Gabelli Funds LLC decreased its holdings in N-able, Inc. (NYSE:NABL - Free Report) by 24.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 141,908 shares of the company's stock after selling 47,000 shares during the period. Gabelli Funds LLC owned 0.08% of N-able worth $1,325,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of N-able during the 4th quarter worth approximately $3,450,000. Applied Fundamental Research LLC raised its stake in N-able by 32.8% during the fourth quarter. Applied Fundamental Research LLC now owns 1,083,033 shares of the company's stock valued at $10,116,000 after purchasing an additional 267,399 shares in the last quarter. Crescent Park Management L.P. lifted its position in N-able by 32.0% during the fourth quarter. Crescent Park Management L.P. now owns 947,984 shares of the company's stock valued at $8,854,000 after purchasing an additional 229,943 shares during the last quarter. Edgestream Partners L.P. grew its stake in shares of N-able by 86.5% in the 4th quarter. Edgestream Partners L.P. now owns 417,004 shares of the company's stock worth $3,895,000 after buying an additional 193,387 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of N-able by 1.8% in the 4th 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 last quarter. Institutional investors own 96.35% of the company's stock.

N-able Stock Performance

Shares of NYSE NABL traded up $0.22 during midday trading on Friday, reaching $6.93. 284,091 shares of the stock were exchanged, compared to its average volume of 703,357. The firm has a 50-day simple moving average of $7.59 and a two-hundred day simple moving average of $9.51. N-able, Inc. has a twelve month low of $6.07 and a twelve month high of $15.49. The firm has a market cap of $1.31 billion, a price-to-earnings ratio of 34.68 and a beta of 0.57. The company has a quick ratio of 3.01, a current ratio of 3.01 and a debt-to-equity ratio of 0.43.

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

Wall Street Analyst Weigh In

NABL has been the subject of several recent analyst reports. BMO Capital Markets restated 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. William Blair reissued an "outperform" rating on shares of N-able in a research report on Friday, March 14th. Royal Bank of Canada cut their price target on N-able from $12.00 to $10.00 and set an "outperform" rating on the stock in a research note on Tuesday, March 4th. Scotiabank boosted their price objective on shares of N-able from $8.75 to $9.00 and gave the stock a "sector perform" rating in a research note on Friday, March 14th. Finally, Needham & Company LLC restated a "buy" rating and issued a $10.00 price target on shares of N-able in a 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 stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $9.38.

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.