Teacher Retirement System of Texas Has $353,000 Position in N-able, Inc. (NYSE:NABL)

Teacher Retirement System of Texas decreased its position 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 & 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 SEC filing.

A number of other hedge funds also recently modified their holdings of NABL. State Street Corp lifted its holdings in shares of N-able by 2.4% during the 3rd quarter. State Street Corp now owns 3,164,709 shares of the company's stock worth $41,331,000 after acquiring an additional 75,003 shares during the period. Geode Capital Management LLC raised its position in N-able by 1.0% in the third quarter. Geode Capital Management LLC now owns 1,597,651 shares of the company's stock worth $20,870,000 after purchasing an additional 15,145 shares in the last quarter. Applied Fundamental Research LLC lifted its stake in N-able by 32.8% during the fourth quarter. Applied Fundamental Research LLC now owns 1,083,033 shares of the company's stock worth $10,116,000 after purchasing an additional 267,399 shares during the period. Bank of New York Mellon Corp boosted its holdings 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 valued at $4,552,000 after purchasing an additional 16,253 shares in the last quarter. Finally, Edgestream Partners L.P. grew its stake in shares of N-able by 86.5% in the 4th quarter. Edgestream Partners L.P. now owns 417,004 shares of the company's stock valued at $3,895,000 after purchasing an additional 193,387 shares during the period. Institutional investors own 96.35% of the company's stock.

Remove Ads

N-able Trading Up 3.8 %

Shares of NABL stock traded up $0.27 on Wednesday, hitting $7.46. The stock had a trading volume of 4,505,861 shares, compared to its average volume of 658,696. The firm has a market cap of $1.41 billion, a P/E ratio of 37.30 and a beta of 0.41. N-able, Inc. has a twelve month low of $6.75 and a twelve month high of $15.49. 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 fifty day moving average price of $8.75 and a two-hundred day moving average price of $10.25.

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

Analyst Ratings Changes

Several brokerages have weighed in on NABL. Royal Bank of Canada decreased their price objective on shares of N-able from $12.00 to $10.00 and set an "outperform" rating on the stock in a research note on Tuesday, March 4th. BMO Capital Markets restated a "market perform" rating and set a $8.50 price target (down from $13.50) on shares of N-able in a research report on Tuesday, March 4th. Scotiabank lifted their price objective 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. Needham & Company LLC reissued a "buy" rating and issued a $10.00 price objective on shares of N-able 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 analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $9.38.

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.