369,404 Shares in N-able, Inc. (NYSE:NABL) Purchased by Norges Bank

Norges Bank bought a new position in shares of N-able, Inc. (NYSE:NABL - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 369,404 shares of the company's stock, valued at approximately $3,450,000. Norges Bank owned 0.20% of N-able at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of NABL. Blue Trust Inc. grew its position in shares of N-able by 95.5% during 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 grew its position in N-able by 104.7% during the fourth quarter. KBC Group NV now owns 5,490 shares of the company's stock worth $51,000 after buying an additional 2,808 shares in the last quarter. Impact Partnership Wealth LLC bought a new position in N-able in the 4th quarter worth about $104,000. KLP Kapitalforvaltning AS purchased a new stake in shares of N-able in the 4th quarter valued at about $136,000. Finally, Harbor Capital Advisors Inc. boosted its position in shares of N-able by 22.3% during the 4th quarter. Harbor Capital Advisors Inc. now owns 15,176 shares of the company's stock valued at $142,000 after acquiring an additional 2,764 shares during the last quarter. 96.35% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

N-able Trading Down 0.7 %

N-able stock traded down $0.05 during trading hours on Wednesday, reaching $6.55. The company had a trading volume of 25,337 shares, compared to its average volume of 696,838. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.01 and a quick ratio of 3.01. N-able, Inc. has a 12-month low of $6.21 and a 12-month high of $15.49. The company has a 50-day moving average price of $8.08 and a 200 day moving average price of $9.80. The firm has a market cap of $1.24 billion, a price-to-earnings ratio of 32.73 and a beta of 0.57.

N-able announced that its board has approved a share buyback plan on Wednesday, March 12th that permits the company to buyback $75.00 million in shares. This buyback authorization permits the company to repurchase up to 5.7% of its stock through open market purchases. Stock buyback plans are often a sign that the company's leadership believes its stock is undervalued.

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.