Rhumbline Advisers Sells 4,957 Shares of N-able, Inc. (NYSE:NABL)

Rhumbline Advisers trimmed its position in N-able, Inc. (NYSE:NABL) by 2.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 193,914 shares of the company’s stock after selling 4,957 shares during the period. Rhumbline Advisers owned approximately 0.10% of N-able worth $1,375,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Aquatic Capital Management LLC bought a new stake in N-able in the 4th quarter valued at about $29,000. Tower Research Capital LLC TRC increased its position in N-able by 67.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,251 shares of the company’s stock valued at $30,000 after buying an additional 1,309 shares in the last quarter. New Age Alpha Advisors LLC bought a new stake in N-able in the 4th quarter valued at about $83,000. Corton Capital Inc. bought a new stake in N-able in the 4th quarter valued at about $94,000. Finally, Susquehanna Fundamental Investments LLC bought a new stake in N-able in the 4th quarter valued at about $123,000. 96.35% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

N-able Price Performance

Shares of NYSE NABL opened at $7.88 on Thursday. N-able, Inc. has a twelve month low of $6.07 and a twelve month high of $15.49. The stock’s 50 day moving average price is $7.48 and its 200-day moving average price is $8.46. The company has a market capitalization of $1.49 billion, a PE ratio of 87.60 and a beta of 0.61. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.42.

N-able (NYSE:NABL) last announced its earnings results on Thursday, May 8th. The company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.02. N-able had a return on equity of 5.20% and a net margin of 3.47%. The firm had revenue of $118.20 million for the quarter, compared to the consensus estimate of $115.65 million. During the same quarter in the previous year, the business earned $0.11 EPS. The company’s revenue was up 4.0% compared to the same quarter last year. On average, equities analysts anticipate that N-able, Inc. will post 0.27 EPS for the current year.

N-able declared that its Board of Directors has authorized a share repurchase program on Wednesday, March 12th that allows the company to repurchase $75.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 5.7% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership 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.