Short Interest in N-able, Inc. (NYSE:NABL) Declines By 15.9%

N-able, Inc. (NYSE:NABL - Get Free Report) was the target of a large drop in short interest in the month of October. As of October 15th, there was short interest totalling 933,000 shares, a drop of 15.9% from the September 30th total of 1,110,000 shares. Based on an average daily volume of 453,200 shares, the days-to-cover ratio is currently 2.1 days. Currently, 1.4% of the company's shares are sold short.

N-able Stock Up 0.2 %

Shares of N-able stock traded up $0.03 during trading on Monday, hitting $12.42. 174,680 shares of the stock traded hands, compared to its average volume of 354,780. The stock has a market cap of $2.30 billion, a P/E ratio of 73.06 and a beta of 0.45. The company has a fifty day moving average price of $12.66 and a two-hundred day moving average price of $13.20. N-able has a twelve month low of $11.50 and a twelve month high of $15.48. The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.97 and a current ratio of 2.97.

N-able (NYSE:NABL - Get Free Report) last posted its earnings results on Thursday, August 8th. The company reported $0.14 earnings per share 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 company had revenue of $119.40 million for the quarter, compared to analyst estimates of $116.83 million. During the same period last year, the company earned $0.03 earnings per share. The business's revenue was up 12.5% compared to the same quarter last year. Equities research analysts predict that N-able will post 0.27 EPS for the current fiscal year.

Analyst Ratings Changes

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

Insider Activity at N-able

In other news, EVP Peter C. Anastos sold 16,000 shares of the business's stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $13.04, for a total transaction of $208,640.00. Following the sale, the executive vice president now owns 322,774 shares in the company, valued at $4,208,972.96. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Peter C. Anastos sold 16,000 shares of N-able stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $13.04, for a total transaction of $208,640.00. Following the transaction, the executive vice president now owns 322,774 shares in the company, valued at approximately $4,208,972.96. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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 value of $1,927,708.12. Following the completion of the sale, the chief executive officer now directly 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. Insiders sold 199,351 shares of company stock worth $2,551,240 in the last quarter. 1.43% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of NABL. Mackenzie Financial Corp lifted its position in shares of N-able by 2.2% during the 2nd quarter. Mackenzie Financial Corp now owns 40,497 shares of the company's stock worth $617,000 after purchasing an additional 866 shares during the last quarter. Louisiana State Employees Retirement System grew its stake in shares of N-able by 2.6% in the second quarter. Louisiana State Employees Retirement System now owns 35,300 shares of the company's stock worth $538,000 after acquiring an additional 900 shares during the last quarter. ProShare Advisors LLC increased its position in N-able by 7.4% during the first quarter. ProShare Advisors LLC now owns 14,094 shares of the company's stock worth $184,000 after acquiring an additional 971 shares during the period. Illinois Municipal Retirement Fund raised its stake in N-able by 3.2% during the 1st quarter. Illinois Municipal Retirement Fund now owns 40,467 shares of the company's stock valued at $529,000 after purchasing an additional 1,242 shares during the last quarter. Finally, Rhumbline Advisers boosted its holdings in N-able by 0.8% in the 2nd quarter. Rhumbline Advisers now owns 203,826 shares of the company's stock valued at $3,104,000 after purchasing an additional 1,668 shares during the period. Institutional investors and hedge funds own 96.35% of the company's stock.

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.