Amundi Sells 106,235 Shares of N-able, Inc. (NYSE:NABL)

Amundi reduced its stake in N-able, Inc. (NYSE:NABL - Free Report) by 71.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 41,652 shares of the company's stock after selling 106,235 shares during the period. Amundi's holdings in N-able were worth $392,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. State Street Corp lifted its stake in N-able by 2.4% in the 3rd 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 in the last quarter. Geode Capital Management LLC boosted its position in 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 grew its position in N-able by 40.0% during the 3rd quarter. Scalar Gauge Management LLC now owns 978,663 shares of the company's stock worth $12,781,000 after acquiring an additional 279,387 shares during the last quarter. Applied Fundamental Research LLC increased its stake in shares of 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 buying an additional 664,198 shares during the period. Finally, Bank of New York Mellon Corp increased its position in shares of N-able by 3.5% in the fourth quarter. Bank of New York Mellon Corp now owns 487,320 shares of the company's stock valued at $4,552,000 after acquiring an additional 16,253 shares during the period. 96.35% of the stock is currently owned by hedge funds and other institutional investors.

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Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Scotiabank boosted their target price on N-able from $8.75 to $9.00 and gave the company a "sector perform" rating in a research note on Friday, March 14th. 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. Needham & Company LLC reissued a "buy" rating and set a $10.00 price objective on shares of N-able in a research report on Friday, March 14th. William Blair reiterated an "outperform" rating on shares of N-able in a research note on Friday, March 14th. Finally, BMO Capital Markets reiterated a "market perform" rating and issued a $8.50 price target (down from $13.50) on shares of N-able in a research note on Tuesday, March 4th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $9.38.

N-able Trading Up 0.5 %

NABL traded up $0.04 on Monday, hitting $7.53. The company had a trading volume of 573,395 shares, compared to its average volume of 614,626. The company has a market cap of $1.42 billion, a PE ratio of 37.63 and a beta of 0.41. 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 business's fifty day simple moving average is $9.07 and its 200 day simple moving average is $10.53. N-able, Inc. has a 12-month low of $6.75 and a 12-month high of $15.49.

N-able declared that its board has approved a stock buyback program on Wednesday, March 12th that authorizes the company to repurchase $75.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 5.7% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board of directors 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.