Quantbot Technologies LP lifted its stake in shares of N-able, Inc. (NYSE:NABL - Free Report) by 144.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 64,777 shares of the company's stock after purchasing an additional 38,287 shares during the period. Quantbot Technologies LP's holdings in N-able were worth $605,000 as of its most recent SEC filing.
Other large investors have also made changes to their positions in the company. Bank of New York Mellon Corp increased its position in N-able by 3.5% during the fourth quarter. Bank of New York Mellon Corp now owns 487,320 shares of the company's stock worth $4,552,000 after purchasing an additional 16,253 shares during the last quarter. Barclays PLC grew its stake in shares of N-able by 398.2% in the 3rd quarter. Barclays PLC now owns 143,095 shares of the company's stock valued at $1,869,000 after buying an additional 114,374 shares during the period. Conestoga Capital Advisors LLC purchased a new stake in shares of N-able in the 4th quarter valued at approximately $1,006,000. Algert Global LLC increased its holdings in shares of N-able by 73.6% during the 3rd quarter. Algert Global LLC now owns 161,100 shares of the company's stock worth $2,104,000 after buying an additional 68,320 shares during the last quarter. Finally, Edgestream Partners L.P. raised its position in shares of N-able by 86.5% during the 4th quarter. Edgestream Partners L.P. now owns 417,004 shares of the company's stock valued at $3,895,000 after buying an additional 193,387 shares during the period. 96.35% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several research analysts recently weighed in on NABL shares. Royal Bank of Canada lowered their price objective 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 reissued a "market perform" rating and set a $8.50 price objective (down from $13.50) on shares of N-able in a research report on Tuesday, March 4th. Needham & Company LLC reaffirmed a "buy" rating and issued a $10.00 target price on shares of N-able in a research report on Friday, March 14th. Scotiabank increased 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 note on Friday, March 14th. Finally, William Blair reissued an "outperform" rating on shares of N-able in a research note on Friday, March 14th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, N-able presently has a consensus rating of "Moderate Buy" and a consensus price target of $9.38.
Check Out Our Latest Research Report on N-able
N-able Trading Down 2.1 %
N-able stock traded down $0.15 during midday trading on Monday, reaching $7.11. 1,077,605 shares of the stock traded hands, compared to its average volume of 645,626. The firm has a market cap of $1.34 billion, a PE ratio of 35.54 and a beta of 0.41. The company has a current ratio of 3.01, a quick ratio of 3.01 and a debt-to-equity ratio of 0.43. The company has a 50-day simple moving average of $8.84 and a two-hundred day simple moving average of $10.31. 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 of Directors has authorized a share repurchase plan on Wednesday, March 12th that allows the company to repurchase $75.00 million in shares. This repurchase authorization allows the company to buy up to 5.7% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board believes its stock is undervalued.
About N-able
(
Free Report)
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.
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