Scalar Gauge Management LLC Has $3.84 Million Position in N-able, Inc. (NYSE:NABL)

Scalar Gauge Management LLC reduced its position in shares of N-able, Inc. (NYSE:NABL - Free Report) by 58.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 411,330 shares of the company's stock after selling 567,333 shares during the quarter. N-able comprises 1.8% of Scalar Gauge Management LLC's portfolio, making the stock its 19th largest holding. Scalar Gauge Management LLC owned about 0.22% of N-able worth $3,842,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in NABL. Bank of New York Mellon Corp increased its stake in shares of N-able by 3.5% in the fourth quarter. Bank of New York Mellon Corp now owns 487,320 shares of the company's stock worth $4,552,000 after acquiring an additional 16,253 shares during the last quarter. Barclays PLC raised its position in shares of N-able by 398.2% in the third quarter. Barclays PLC now owns 143,095 shares of the company's stock valued at $1,869,000 after purchasing an additional 114,374 shares during the period. Conestoga Capital Advisors LLC acquired a new position in N-able during the 4th quarter worth $1,006,000. Edgestream Partners L.P. boosted its holdings in N-able by 86.5% during the fourth quarter. Edgestream Partners L.P. now owns 417,004 shares of the company's stock valued at $3,895,000 after acquiring an additional 193,387 shares during the period. Finally, Atom Investors LP increased its stake in shares of N-able by 59.2% in the third quarter. Atom Investors LP now owns 156,126 shares of the company's stock worth $2,039,000 after purchasing an additional 58,087 shares during the period. Institutional investors and hedge funds own 96.35% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently commented on NABL shares. Royal Bank of Canada cut their price target on N-able from $12.00 to $10.00 and set an "outperform" rating for the company in a report on Tuesday, March 4th. Scotiabank upped their price target on N-able from $8.75 to $9.00 and gave the company a "sector perform" rating in a research report on Friday, March 14th. William Blair reaffirmed an "outperform" rating on shares of N-able in a report on Friday, March 14th. Needham & Company LLC reissued a "buy" rating and issued a $10.00 target price on shares of N-able in a report on Friday, March 14th. Finally, BMO Capital Markets restated a "market perform" rating and issued a $8.50 target price (down from $13.50) on shares of N-able in a research note on Tuesday, March 4th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, N-able has an average rating of "Moderate Buy" and a consensus target price of $9.38.

N-able Trading Down 4.6 %

NABL traded down $0.33 during midday trading on Friday, reaching $6.78. 1,760,101 shares of the company were exchanged, compared to its average volume of 669,640. N-able, Inc. has a one year low of $6.66 and a one year high of $15.49. 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 stock has a market capitalization of $1.28 billion, a P/E ratio of 33.88 and a beta of 0.41. The stock's 50-day simple moving average is $8.70 and its 200 day simple moving average is $10.23.

N-able announced that its board has initiated a stock buyback program on Wednesday, March 12th that permits the company to buyback $75.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 5.7% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's management believes its stock is undervalued.

About N-able

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.