AlphaQuest LLC Raises Stock Position in N-able, Inc. (NYSE:NABL)

AlphaQuest LLC raised its position in shares of N-able, Inc. (NYSE:NABL - Free Report) by 56.0% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 104,867 shares of the company's stock after buying an additional 37,650 shares during the period. AlphaQuest LLC owned about 0.06% of N-able worth $979,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in NABL. Applied Fundamental Research LLC lifted its stake in N-able by 438.6% in the third quarter. Applied Fundamental Research LLC now owns 815,634 shares of the company's stock worth $10,652,000 after acquiring an additional 664,198 shares during the period. Barclays PLC lifted its holdings in N-able by 398.2% in the third quarter. Barclays PLC now owns 143,095 shares of the company's stock worth $1,869,000 after buying an additional 114,374 shares during the period. Conestoga Capital Advisors LLC purchased a new position in shares of N-able during the 4th quarter worth approximately $1,006,000. Algert Global LLC lifted its stake in shares of N-able by 73.6% in the 3rd quarter. Algert Global LLC now owns 161,100 shares of the company's stock valued at $2,104,000 after purchasing an additional 68,320 shares during the period. Finally, Edgestream Partners L.P. raised its holdings in N-able by 86.5% in the fourth quarter. Edgestream Partners L.P. now owns 417,004 shares of the company's stock worth $3,895,000 after purchasing an additional 193,387 shares in the last quarter. Institutional investors own 96.35% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on NABL. Needham & Company LLC reaffirmed a "buy" rating and issued a $10.00 target price on shares of N-able in a research report on Friday. BMO Capital Markets reaffirmed a "market perform" rating and set a $8.50 target price (down previously from $13.50) on shares of N-able in a research note on Tuesday, March 4th. Royal Bank of Canada lowered their target price on shares of N-able from $12.00 to $10.00 and set an "outperform" rating for the company in a report on Tuesday, March 4th. Finally, Scotiabank upped their price target on N-able from $8.75 to $9.00 and gave the stock a "sector perform" rating in a research note on Friday.

Remove Ads

N-able Stock Down 3.0 %

NYSE NABL traded down $0.24 during mid-day trading on Friday, reaching $7.61. The stock had a trading volume of 1,873,764 shares, compared to its average volume of 604,548. The stock has a market cap of $1.41 billion, a PE ratio of 38.03 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. 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 company has a fifty day moving average price of $9.28 and a 200 day moving average price of $10.77.

N-able declared that its Board of Directors has initiated a share buyback plan on Wednesday, March 12th that authorizes the company to buyback $75.00 million in shares. This buyback authorization authorizes the company to purchase up to 5.7% of its stock through open market purchases. Stock buyback plans are often an indication that the company's management believes its stock is undervalued.

About N-able

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.