UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Raises Position in N-able, Inc. (NYSE:NABL)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in N-able, Inc. (NYSE:NABL) by 13.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 170,357 shares of the company’s stock after purchasing an additional 19,861 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.09% of N-able worth $1,591,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Blue Trust Inc. increased its position in shares of N-able by 95.5% in 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 last quarter. Aquatic Capital Management LLC purchased a new position in N-able in the 4th quarter worth approximately $29,000. Tower Research Capital LLC TRC increased its holdings in shares of N-able by 67.4% in the 4th 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 during the last quarter. KBC Group NV raised its position in shares of N-able by 104.7% during the 4th quarter. KBC Group NV now owns 5,490 shares of the company’s stock valued at $51,000 after buying an additional 2,808 shares in the last quarter. Finally, New Age Alpha Advisors LLC purchased a new stake in shares of N-able during the 4th quarter valued at $83,000. Hedge funds and other institutional investors own 96.35% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on NABL. Royal Bank of Canada cut their target price on N-able from $12.00 to $10.00 and set an “outperform” rating for the company in a research note on Tuesday, March 4th. Scotiabank boosted 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. BMO Capital Markets reaffirmed a “market perform” rating and set a $8.50 target price (down previously from $13.50) on shares of N-able in a report on Tuesday, March 4th. William Blair reiterated an “outperform” rating on shares of N-able in a research report on Friday, March 14th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $10.00 price target on shares of N-able in a research note on Monday, May 5th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $9.38.

N-able Trading Up 0.7%

N-able stock opened at $8.15 on Monday. N-able, Inc. has a 52-week low of $6.07 and a 52-week high of $15.49. The company has a market cap of $1.54 billion, a P/E ratio of 40.73 and a beta of 0.61. The company has a quick ratio of 3.01, a current ratio of 3.01 and a debt-to-equity ratio of 0.43. The business has a 50-day simple moving average of $7.28 and a two-hundred day simple moving average of $8.56.

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

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

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.