402,830 Shares in N-able, Inc. (NYSE:NABL) Bought by Principal Financial Group Inc.

Principal Financial Group Inc. purchased a new stake in N-able, Inc. (NYSE:NABL) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 402,830 shares of the company’s stock, valued at approximately $5,317,000. Principal Financial Group Inc. owned approximately 0.22% of N-able at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in NABL. AlpInvest Partners B.V. acquired a new stake in shares of N-able in the 4th quarter valued at about $25,492,000. Legal & General Group Plc raised its stake in N-able by 3,929.0% during the fourth quarter. Legal & General Group Plc now owns 2,123,911 shares of the company’s stock valued at $21,834,000 after buying an additional 2,071,196 shares in the last quarter. UBS Group AG lifted its holdings in N-able by 8,707.2% during the 1st quarter. UBS Group AG now owns 905,207 shares of the company’s stock worth $8,238,000 after buying an additional 894,929 shares during the last quarter. State Street Corp grew its position in shares of N-able by 93.3% in the 2nd quarter. State Street Corp now owns 1,553,561 shares of the company’s stock worth $13,982,000 after acquiring an additional 749,924 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in shares of N-able by 182.6% in the 2nd quarter. Northern Trust Corp now owns 608,384 shares of the company’s stock valued at $5,476,000 after acquiring an additional 393,070 shares during the last quarter. 97.34% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

NABL has been the subject of a number of research reports. Needham & Company LLC lifted their price objective on shares of N-able from $15.50 to $16.50 and gave the stock a “buy” rating in a report on Thursday, August 10th. JPMorgan Chase & Co. decreased their price target on shares of N-able from $16.00 to $15.00 and set a “neutral” rating for the company in a report on Friday, August 11th. Finally, BMO Capital Markets boosted their price objective on shares of N-able from $13.00 to $15.00 in a research report on Thursday, May 11th.

N-able Trading Up 0.6 %

NYSE:NABL opened at $13.45 on Friday. N-able, Inc. has a 12-month low of $8.90 and a 12-month high of $15.44. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.49 and a quick ratio of 2.49. The business has a 50 day simple moving average of $13.84 and a 200 day simple moving average of $13.34. The firm has a market capitalization of $2.45 billion, a P/E ratio of 168.13 and a beta of 0.45.

N-able (NYSE:NABL) last released its quarterly earnings results on Thursday, August 10th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.01). N-able had a return on equity of 3.76% and a net margin of 3.88%. The firm had revenue of $106.08 million for the quarter, compared to the consensus estimate of $102.81 million. Equities research analysts predict that N-able, Inc. will post 0.18 EPS for the current year.

Insiders Place Their Bets

In related news, EVP Peter C. Anastos sold 11,000 shares of N-able stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $13.13, for a total transaction of $144,430.00. Following the transaction, the executive vice president now directly 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 is available through this hyperlink. In related news, CEO John Pagliuca sold 38,894 shares of the stock in a transaction on Friday, August 18th. The stock was sold at an average price of $13.23, for a total value of $514,567.62. Following the completion of the transaction, the chief executive officer now owns 1,307,144 shares in the company, valued at approximately $17,293,515.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Peter C. Anastos sold 11,000 shares of N-able stock in a transaction dated Tuesday, August 22nd. The stock was 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 approximately $3,788,819.06. The disclosure for this sale can be found here. 0.83% of the stock is currently owned by insiders.

N-able 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.