Monimus Capital Management LP Takes $1.41 Million Position in N-able, Inc. (NYSE:NABL)

Monimus Capital Management LP bought a new stake in N-able, Inc. (NYSE:NABL - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 151,361 shares of the company's stock, valued at approximately $1,414,000. N-able comprises approximately 1.3% of Monimus Capital Management LP's portfolio, making the stock its 28th biggest position. Monimus Capital Management LP owned approximately 0.08% of N-able as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of NABL. State Street Corp increased its holdings in shares of N-able by 2.4% in the third quarter. State Street Corp now owns 3,164,709 shares of the company's stock worth $41,331,000 after purchasing an additional 75,003 shares during the period. Geode Capital Management LLC increased its position in shares of N-able by 1.0% during the third quarter. Geode Capital Management LLC now owns 1,597,651 shares of the company's stock valued at $20,870,000 after buying an additional 15,145 shares during the period. Scalar Gauge Management LLC boosted its position in shares of N-able by 40.0% during the third quarter. Scalar Gauge Management LLC now owns 978,663 shares of the company's stock valued at $12,781,000 after purchasing an additional 279,387 shares in the last quarter. Applied Fundamental Research LLC increased its stake in shares of N-able by 438.6% during the third quarter. Applied Fundamental Research LLC now owns 815,634 shares of the company's stock valued at $10,652,000 after purchasing an additional 664,198 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in N-able by 3.5% during the 4th quarter. Bank of New York Mellon Corp now owns 487,320 shares of the company's stock valued at $4,552,000 after purchasing an additional 16,253 shares during the last quarter. Hedge funds and other institutional investors own 96.35% of the company's stock.

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Analyst Ratings Changes

NABL has been the subject of several research reports. William Blair reaffirmed 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 target price on shares of N-able in a research note on Friday, March 14th. Scotiabank upped 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. BMO Capital Markets reissued 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. Finally, Royal Bank of Canada reduced their target price on N-able from $12.00 to $10.00 and set an "outperform" rating for the company in a research note on Tuesday, March 4th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, N-able presently has a consensus rating of "Moderate Buy" and a consensus price target of $9.38.

N-able Price Performance

Shares of N-able stock traded down $0.02 during trading hours on Wednesday, reaching $7.78. 1,057,577 shares of the company's stock were exchanged, compared to its average volume of 607,436. 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, Inc. has a 1 year low of $6.75 and a 1 year high of $15.49. The business has a fifty day moving average of $9.17 and a two-hundred day moving average of $10.63. The company has a market capitalization of $1.47 billion, a P/E ratio of 38.88 and a beta of 0.41.

N-able declared that its Board of Directors has initiated a stock buyback plan on Wednesday, March 12th that authorizes the company to repurchase $75.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 5.7% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's leadership 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.