Vanguard Group Inc. Purchases 161,725 Shares of N-able, Inc. (NYSE:NABL)

Vanguard Group Inc. boosted its holdings in N-able, Inc. (NYSE:NABL - Free Report) by 1.8% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,330,440 shares of the company's stock after buying an additional 161,725 shares during the quarter. Vanguard Group Inc. owned approximately 5.02% of N-able worth $87,146,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Blue Trust Inc. boosted its stake in shares of N-able by 95.5% in the 4th quarter. Blue Trust Inc. now owns 3,128 shares of the company's stock valued at $29,000 after purchasing an additional 1,528 shares in the last quarter. KBC Group NV lifted its stake in N-able by 104.7% in the 4th quarter. KBC Group NV now owns 5,490 shares of the company's stock valued at $51,000 after purchasing an additional 2,808 shares during the last quarter. Impact Partnership Wealth LLC acquired a new stake in N-able in the fourth quarter valued at approximately $104,000. KLP Kapitalforvaltning AS bought a new stake in shares of N-able during the fourth quarter worth $136,000. Finally, Harbor Capital Advisors Inc. increased its holdings in shares of N-able by 22.3% during the fourth quarter. Harbor Capital Advisors Inc. now owns 15,176 shares of the company's stock worth $142,000 after buying an additional 2,764 shares in the last quarter. Institutional investors own 96.35% of the company's stock.

N-able Trading Down 0.8 %

Shares of NABL stock traded down $0.06 on Tuesday, hitting $6.67. The company had a trading volume of 61,501 shares, compared to its average volume of 1,068,584. N-able, Inc. has a twelve month low of $6.20 and a twelve month high of $15.48. The company has a debt-to-equity ratio of 0.43, a quick ratio of 3.01 and a current ratio of 3.01. The firm has a market cap of $1.26 billion, a P/E ratio of 33.33 and a beta of 0.57. The stock's 50-day moving average is $8.15 and its two-hundred day moving average is $9.82.

Remove Ads

N-able announced that its board has authorized a share repurchase plan on Wednesday, March 12th that permits the company to buyback $75.00 million in shares. This buyback authorization permits 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 board believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Royal Bank of Canada reduced their price objective on N-able from $12.00 to $10.00 and set an "outperform" rating on the stock in a research report on Tuesday, March 4th. Needham & Company LLC restated 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 reaffirmed a "market perform" rating and issued a $8.50 price objective (down previously from $13.50) on shares of N-able in a research note on Tuesday, March 4th. Scotiabank lifted their target price on shares of N-able from $8.75 to $9.00 and gave the stock a "sector perform" rating in a research report on Friday, March 14th. Finally, William Blair restated an "outperform" rating on shares of N-able in a research report on Friday, March 14th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, N-able presently has an average rating of "Moderate Buy" and a consensus target price of $9.38.

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.