Clearline Capital LP Takes Position in N-able, Inc. (NYSE:NABL)

Clearline Capital LP acquired a new stake in shares of N-able, Inc. (NYSE:NABL) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 49,845 shares of the company’s stock, valued at approximately $759,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Summit Securities Group LLC acquired a new stake in shares of N-able during the second quarter valued at about $30,000. GAMMA Investing LLC boosted its position in N-able by 644.2% during the 2nd quarter. GAMMA Investing LLC now owns 3,654 shares of the company’s stock worth $56,000 after buying an additional 3,163 shares during the period. SageView Advisory Group LLC acquired a new stake in N-able during the 1st quarter worth approximately $148,000. Summit Global Investments bought a new stake in N-able during the 2nd quarter worth approximately $191,000. Finally, ProShare Advisors LLC increased its position in N-able by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 14,094 shares of the company’s stock valued at $184,000 after acquiring an additional 971 shares during the period. Institutional investors own 96.35% of the company’s stock.

Insider Buying and Selling at N-able

In other news, Director Ann Johnson sold 21,200 shares of N-able stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $12.79, for a total value of $271,148.00. Following the completion of the transaction, the director now directly owns 48,797 shares of the company’s stock, valued at approximately $624,113.63. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Ann Johnson sold 21,200 shares of N-able stock in a transaction on Monday, August 12th. The shares were sold at an average price of $12.79, for a total value of $271,148.00. Following the completion of the sale, the director now owns 48,797 shares in the company, valued at approximately $624,113.63. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Frank Colletti sold 3,333 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $15.24, for a total transaction of $50,794.92. Following the transaction, the executive vice president now owns 453,475 shares in the company, valued at approximately $6,910,959. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 202,684 shares of company stock valued at $2,602,035. 1.43% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Separately, Needham & Company LLC reiterated a “buy” rating and set a $16.50 price target on shares of N-able in a report on Friday, August 9th.

N-able Price Performance

N-able stock opened at $12.99 on Friday. The stock’s 50 day moving average is $13.02 and its 200 day moving average is $13.27. N-able, Inc. has a one year low of $11.50 and a one year high of $15.48. The firm has a market cap of $2.41 billion, a P/E ratio of 92.79 and a beta of 0.45. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.97 and a quick ratio of 2.97.

N-able (NYSE:NABL) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.04. N-able had a net margin of 7.19% and a return on equity of 5.67%. The firm had revenue of $119.40 million for the quarter, compared to the consensus estimate of $116.83 million. During the same quarter in the previous year, the company earned $0.03 EPS. The company’s revenue for the quarter was up 12.5% on a year-over-year basis. As a group, research analysts expect that N-able, Inc. will post 0.27 EPS for the current year.

About N-able

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.