Teacher Retirement System of Texas Trims Stock Holdings in N-able, Inc. (NYSE:NABL)

Teacher Retirement System of Texas cut its holdings in N-able, Inc. (NYSE:NABL - Free Report) by 83.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 37,803 shares of the company's stock after selling 191,905 shares during the period. Teacher Retirement System of Texas' holdings in N-able were worth $353,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. State Street Corp increased its holdings in N-able by 2.4% in the third quarter. State Street Corp now owns 3,164,709 shares of the company's stock worth $41,331,000 after purchasing an additional 75,003 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of N-able by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,597,651 shares of the company's stock valued at $20,870,000 after acquiring an additional 15,145 shares in the last quarter. Applied Fundamental Research LLC lifted its position in shares of N-able by 32.8% during the 4th quarter. Applied Fundamental Research LLC now owns 1,083,033 shares of the company's stock valued at $10,116,000 after acquiring an additional 267,399 shares during the period. Bank of New York Mellon Corp boosted its stake 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 acquiring an additional 16,253 shares in the last quarter. Finally, Edgestream Partners L.P. grew its holdings in N-able by 86.5% in the fourth quarter. Edgestream Partners L.P. now owns 417,004 shares of the company's stock worth $3,895,000 after purchasing an additional 193,387 shares during the period. 96.35% of the stock is owned by institutional investors and hedge funds.

N-able Stock Performance

Shares of N-able stock traded down $0.30 on Friday, reaching $6.81. 2,663,420 shares of the company traded hands, compared to its average volume of 674,763. The company has a 50 day moving average of $8.65 and a 200 day moving average of $10.17. 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 52 week low of $6.66 and a 52 week high of $15.49. The firm has a market capitalization of $1.29 billion, a PE ratio of 34.03 and a beta of 0.57.

N-able declared that its Board of Directors has approved a share repurchase plan on Wednesday, March 12th that permits the company to buyback $75.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 5.7% of its shares through open market purchases. Shares buyback plans are often a sign that the company's board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

NABL has been the topic of a number of research analyst reports. Scotiabank increased their price objective on shares of N-able from $8.75 to $9.00 and gave the stock 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 research report on Friday, March 14th. Needham & Company LLC reiterated a "buy" rating and set a $10.00 price target on shares of N-able in a report on Friday, March 14th. BMO Capital Markets reiterated a "market perform" rating and issued a $8.50 price objective (down previously from $13.50) on shares of N-able in a research note on Tuesday, March 4th. Finally, Royal Bank of Canada dropped their price target on N-able from $12.00 to $10.00 and set an "outperform" rating on the stock in a report on Tuesday, March 4th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $9.38.

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.