N-able (NYSE:NABL) Sets New 1-Year Low After Analyst Downgrade

N-able, Inc. (NYSE:NABL - Get Free Report) hit a new 52-week low during mid-day trading on Friday after BMO Capital Markets lowered their price target on the stock from $14.00 to $13.50. BMO Capital Markets currently has a market perform rating on the stock. N-able traded as low as $11.33 and last traded at $11.51, with a volume of 77436 shares changing hands. The stock had previously closed at $11.96.

Separately, Needham & Company LLC reaffirmed a "buy" rating and set a $16.50 price target on shares of N-able in a research report on Friday, August 9th.

Insider Buying and Selling

In related news, CEO John Pagliuca sold 150,956 shares of the stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $12.77, for a total transaction of $1,927,708.12. Following the completion of the transaction, the chief executive officer now directly owns 1,465,346 shares in the company, valued at approximately $18,712,468.42. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other N-able news, EVP Peter C. Anastos sold 16,000 shares of N-able stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $13.04, for a total value of $208,640.00. Following the sale, the executive vice president now directly owns 322,774 shares in the company, valued at approximately $4,208,972.96. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO John Pagliuca sold 150,956 shares of the stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $12.77, for a total transaction of $1,927,708.12. Following the transaction, the chief executive officer now owns 1,465,346 shares of the company's stock, valued at approximately $18,712,468.42. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 199,351 shares of company stock valued at $2,551,240. Company insiders own 1.43% of the company's stock.

Institutional Trading of N-able

Hedge funds and other institutional investors have recently modified their holdings of the stock. Summit Securities Group LLC bought a new position in N-able in the second quarter valued at approximately $30,000. GAMMA Investing LLC lifted its stake in N-able by 644.2% in the second quarter. GAMMA Investing LLC now owns 3,654 shares of the company's stock valued at $56,000 after acquiring an additional 3,163 shares during the last quarter. SageView Advisory Group LLC bought a new position in shares of N-able in the 1st quarter valued at about $148,000. Entropy Technologies LP acquired a new position in shares of N-able during the 3rd quarter worth about $149,000. Finally, Aigen Investment Management LP increased its position in N-able by 38.4% during the third quarter. Aigen Investment Management LP now owns 13,915 shares of the company's stock worth $182,000 after buying an additional 3,863 shares during the last quarter. Institutional investors and hedge funds own 96.35% of the company's stock.

N-able Stock Down 6.1 %

The stock has a market cap of $2.08 billion, a P/E ratio of 70.35 and a beta of 0.47. The firm has a 50 day simple moving average of $12.60 and a 200-day simple moving average of $13.20. The company has a quick ratio of 2.97, a current ratio of 2.97 and a debt-to-equity ratio of 0.46.

N-able (NYSE:NABL - Get Free Report) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.04. N-able had a return on equity of 5.67% and a net margin of 7.19%. The business had revenue of $119.40 million during the quarter, compared to the consensus estimate of $116.83 million. During the same quarter last year, the firm posted $0.03 EPS. The company's quarterly revenue was up 12.5% on a year-over-year basis. On average, equities research analysts forecast that N-able, Inc. will post 0.27 earnings per share for the current fiscal year.

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.