Oppenheimer Asset Management Inc. cut its stake in shares of N-able, Inc. (NYSE:NABL – Free Report) by 65.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 12,951 shares of the company’s stock after selling 24,998 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in N-able were worth $171,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Principal Financial Group Inc. acquired a new position in shares of N-able during the first quarter worth about $5,317,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in shares of N-able during the first quarter worth about $934,000. Bank of New York Mellon Corp grew its position in shares of N-able by 118.7% during the first quarter. Bank of New York Mellon Corp now owns 545,906 shares of the company’s stock worth $7,206,000 after buying an additional 296,258 shares in the last quarter. New York Life Investment Management LLC purchased a new stake in N-able during the first quarter worth approximately $467,000. Finally, AtonRa Partners purchased a new stake in N-able during the first quarter worth approximately $339,000. 97.34% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
NABL has been the subject of several recent analyst reports. Needham & Company LLC boosted their target price on N-able from $15.50 to $16.50 and gave the stock a “buy” rating in a research note on Thursday, August 10th. BMO Capital Markets boosted their target price on N-able from $13.00 to $15.00 in a research note on Thursday, May 11th. Finally, JPMorgan Chase & Co. reduced their price objective on N-able from $16.00 to $15.00 and set a “neutral” rating for the company in a research note on Friday, August 11th.
Insider Buying and Selling at N-able
In related news, EVP Peter C. Anastos sold 11,000 shares of the stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of $13.13, for a total transaction of $144,430.00. Following the sale, the executive vice president now owns 288,562 shares of the company’s stock, valued at $3,788,819.06. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, CEO John Pagliuca sold 38,894 shares of N-able stock in a transaction dated Friday, August 18th. The stock was sold at an average price of $13.23, for a total value of $514,567.62. Following the transaction, the chief executive officer now directly owns 1,307,144 shares of the company’s stock, valued at approximately $17,293,515.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Peter C. Anastos sold 11,000 shares of N-able stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $13.13, for a total value of $144,430.00. Following the completion of the transaction, the executive vice president now directly owns 288,562 shares in the company, valued at $3,788,819.06. The disclosure for this sale can be found here. 0.83% of the stock is owned by corporate insiders.
N-able Trading Down 0.5 %
Shares of NABL stock opened at $13.43 on Thursday. The business’s fifty day moving average price is $13.87 and its 200 day moving average price is $13.31. N-able, Inc. has a 1-year low of $8.90 and a 1-year high of $15.44. The firm has a market capitalization of $2.45 billion, a PE ratio of 167.81 and a beta of 0.45. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.49 and a quick ratio of 2.49.
N-able (NYSE:NABL – Get Free Report) last posted its earnings results on Thursday, August 10th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.01). The firm had revenue of $106.08 million during the quarter, compared to analyst estimates of $102.81 million. N-able had a net margin of 3.88% and a return on equity of 3.76%. As a group, sell-side analysts forecast that N-able, Inc. will post 0.18 EPS for the current fiscal year.
N-able Company Profile
N-able, Inc provides cloud-based software solutions for managed service providers. The company's solutions enable MSPs to support digital transformation and growth within small and medium-sized enterprises. Its software platform is designed to be an enterprise-grade solution that serves as an operating system for its MSP partners and scales as their businesses grow.
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