N-able, Inc. (NYSE:NABL) Shares Sold by Sunriver Management LLC

Sunriver Management LLC trimmed its position in shares of N-able, Inc. (NYSE:NABL - Free Report) by 6.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,562,302 shares of the company's stock after selling 243,718 shares during the period. N-able comprises 4.0% of Sunriver Management LLC's portfolio, making the stock its 13th largest position. Sunriver Management LLC owned 1.92% of N-able worth $33,272,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Blue Trust Inc. boosted its stake in 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 during the last quarter. KBC Group NV increased its position in N-able by 104.7% in the fourth quarter. KBC Group NV now owns 5,490 shares of the company's stock worth $51,000 after purchasing an additional 2,808 shares during the last quarter. New Age Alpha Advisors LLC bought a new position in shares of N-able in the 4th quarter valued at about $83,000. Impact Partnership Wealth LLC bought a new position in shares of N-able during the 4th quarter valued at approximately $104,000. Finally, Verition Fund Management LLC bought a new stake in shares of N-able in the 3rd quarter worth about $146,000. Institutional investors own 96.35% of the company's stock.

Analyst Upgrades and Downgrades

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

N-able Price Performance

Shares of NYSE:NABL traded down $0.12 during trading on Friday, reaching $6.33. 728,568 shares of the company's stock traded hands, compared to its average volume of 701,731. The firm has a market cap of $1.20 billion, a PE ratio of 31.63 and a beta of 0.57. The company has a 50-day simple moving average of $7.94 and a 200-day simple moving average of $9.73. The company has a quick ratio of 3.01, a current ratio of 3.01 and a debt-to-equity ratio of 0.43. N-able, Inc. has a fifty-two week low of $6.21 and a fifty-two week high of $15.49.

N-able declared that its Board of Directors has approved a share buyback program on Wednesday, March 12th that authorizes the company to buyback $75.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 5.7% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's board 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.