Two Sigma Investments LP Boosts Position in N-able, Inc. (NYSE:NABL)

Two Sigma Investments LP raised its position in N-able, Inc. (NYSE:NABL) by 46.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 159,612 shares of the company’s stock after acquiring an additional 50,926 shares during the quarter. Two Sigma Investments LP owned 0.09% of N-able worth $1,491,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Blue Trust Inc. grew its position in N-able by 95.5% in the fourth quarter. Blue Trust Inc. now owns 3,128 shares of the company’s stock valued at $29,000 after acquiring an additional 1,528 shares in the last quarter. Aquatic Capital Management LLC acquired a new stake in N-able in the fourth quarter valued at approximately $29,000. Tower Research Capital LLC TRC grew its position in shares of N-able by 67.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,251 shares of the company’s stock worth $30,000 after buying an additional 1,309 shares in the last quarter. KBC Group NV grew its position in shares of N-able by 104.7% during the fourth quarter. KBC Group NV now owns 5,490 shares of the company’s stock worth $51,000 after buying an additional 2,808 shares in the last quarter. Finally, New Age Alpha Advisors LLC acquired a new stake in shares of N-able during the fourth quarter worth approximately $83,000. Institutional investors and hedge funds own 96.35% of the company’s stock.

N-able Stock Performance

Shares of NABL opened at $8.01 on Wednesday. N-able, Inc. has a 1 year low of $6.07 and a 1 year high of $15.49. The company has a market cap of $1.51 billion, a price-to-earnings ratio of 40.03 and a beta of 0.57. The company has a debt-to-equity ratio of 0.43, a quick ratio of 3.01 and a current ratio of 3.01. The firm has a fifty day moving average of $7.23 and a 200-day moving average of $8.62.

N-able (NYSE:NABL) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.02. N-able had a net margin of 8.08% and a return on equity of 6.31%. The company had revenue of $118.20 million during the quarter, compared to the consensus estimate of $115.65 million. During the same quarter in the previous year, the company posted $0.11 earnings per share. The company’s revenue for the quarter was up 4.0% compared to the same quarter last year. As a group, equities analysts anticipate that N-able, Inc. will post 0.27 earnings per share for the current year.

N-able announced that its Board of Directors has authorized a share repurchase plan on Wednesday, March 12th that authorizes the company to buyback $75.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 5.7% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on NABL shares. William Blair reissued an “outperform” rating on shares of N-able in a research report on Friday, March 14th. BMO Capital Markets reissued a “market perform” rating and set a $8.50 price target (down previously from $13.50) on shares of N-able in a research report on Tuesday, March 4th. Scotiabank lifted their price objective on shares of N-able from $8.75 to $9.00 and gave the stock a “sector perform” rating in a report on Friday, March 14th. Needham & Company LLC reaffirmed a “buy” rating and issued a $10.00 price objective on shares of N-able in a report on Monday, May 5th. Finally, Royal Bank of Canada decreased their price objective on shares of N-able from $12.00 to $10.00 and set an “outperform” rating for the company in a report on Tuesday, March 4th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $9.38.

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.