Applied Fundamental Research LLC Has $10.12 Million Stake in N-able, Inc. (NYSE:NABL)

Applied Fundamental Research LLC boosted its stake in shares of N-able, Inc. (NYSE:NABL - Free Report) by 32.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,083,033 shares of the company's stock after purchasing an additional 267,399 shares during the period. N-able comprises 7.9% of Applied Fundamental Research LLC's portfolio, making the stock its 7th largest holding. Applied Fundamental Research LLC owned about 0.58% of N-able worth $10,116,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NABL. Entropy Technologies LP purchased a new position in N-able in the third quarter worth about $149,000. Aigen Investment Management LP increased its position in shares of N-able by 38.4% during the 3rd quarter. Aigen Investment Management LP now owns 13,915 shares of the company's stock valued at $182,000 after purchasing an additional 3,863 shares during the last quarter. Victory Capital Management Inc. lifted its stake in shares of N-able by 14.4% in the 3rd quarter. Victory Capital Management Inc. now owns 55,497 shares of the company's stock worth $725,000 after purchasing an additional 7,000 shares during the period. Quest Partners LLC boosted its holdings in shares of N-able by 91.4% in the third quarter. Quest Partners LLC now owns 67,217 shares of the company's stock worth $878,000 after buying an additional 32,094 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in N-able by 94.7% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 219,431 shares of the company's stock valued at $2,866,000 after buying an additional 106,731 shares during the period. Hedge funds and other institutional investors own 96.35% of the company's stock.

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N-able Price Performance

NABL stock traded down $0.16 during trading on Thursday, reaching $7.63. The company's stock had a trading volume of 641,999 shares, compared to its average volume of 607,815. The company has a quick ratio of 3.01, a current ratio of 3.01 and a debt-to-equity ratio of 0.43. The company's fifty day moving average is $9.14 and its 200-day moving average is $10.61. The company has a market capitalization of $1.44 billion, a P/E ratio of 38.13 and a beta of 0.41. N-able, Inc. has a 1 year low of $6.75 and a 1 year high of $15.49.

N-able announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, March 12th that allows the company to buyback $75.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 5.7% of its shares through open market purchases. Shares buyback plans are often a sign that the company's management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on NABL shares. William Blair reiterated an "outperform" rating on shares of N-able in a research note on Friday, March 14th. Needham & Company LLC reissued a "buy" rating and set a $10.00 price target on shares of N-able in a report on Friday, March 14th. BMO Capital Markets restated a "market perform" rating and issued a $8.50 price target (down previously from $13.50) on shares of N-able in a research report on Tuesday, March 4th. Scotiabank lifted 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. Finally, Royal Bank of Canada cut their price objective 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 research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target 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.