N-able, Inc. (NYSE:NABL) Holdings Trimmed by Geode Capital Management LLC

Geode Capital Management LLC cut its holdings in N-able, Inc. (NYSE:NABL) by 0.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,595,284 shares of the company’s stock after selling 2,367 shares during the quarter. Geode Capital Management LLC owned about 0.86% of N-able worth $14,904,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Blue Trust Inc. raised its position in shares of N-able by 95.5% during the fourth quarter. Blue Trust Inc. now owns 3,128 shares of the company’s stock worth $29,000 after purchasing an additional 1,528 shares during the period. KBC Group NV raised its holdings in N-able by 104.7% during the 4th quarter. KBC Group NV now owns 5,490 shares of the company’s stock worth $51,000 after buying an additional 2,808 shares during the period. New Age Alpha Advisors LLC purchased a new stake in N-able during the fourth quarter valued at about $83,000. Impact Partnership Wealth LLC acquired a new position in shares of N-able in the fourth quarter worth about $104,000. Finally, KLP Kapitalforvaltning AS purchased a new position in shares of N-able in the fourth quarter worth approximately $136,000. 96.35% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently commented on NABL shares. BMO Capital Markets restated a “market perform” rating and issued a $8.50 price target (down previously from $13.50) on shares of N-able in a research report on Tuesday, March 4th. Scotiabank raised their target price on N-able from $8.75 to $9.00 and gave the stock a “sector perform” rating in a research report on Friday, March 14th. 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 research report on Tuesday, March 4th. William Blair restated an “outperform” rating on shares of N-able in a research report on Friday, March 14th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $10.00 target price on shares of N-able in a report on Friday, March 14th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $9.38.

N-able Trading Down 1.8 %

NYSE NABL opened at $6.33 on Monday. The company has a market capitalization of $1.20 billion, a PE ratio of 31.63 and a beta of 0.57. N-able, Inc. has a 1-year low of $6.21 and a 1-year 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 firm’s fifty day simple moving average is $7.87 and its 200-day simple moving average is $9.64.

N-able announced that its board has authorized a share buyback program on Wednesday, March 12th that permits the company to buyback $75.00 million in shares. This buyback authorization permits the company to repurchase up to 5.7% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

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.