N-able, Inc. (NYSE:NABL) is Applied Fundamental Research LLC’s 7th Largest Position

Applied Fundamental Research LLC lifted its position in shares of N-able, Inc. (NYSE:NABL) by 32.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,083,033 shares of the company’s stock after buying an additional 267,399 shares during the quarter. N-able makes up 7.9% of Applied Fundamental Research LLC’s holdings, making the stock its 7th largest holding. Applied Fundamental Research LLC owned about 0.58% of N-able worth $10,116,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in NABL. Monimus Capital Management LP purchased a new stake in N-able in the fourth quarter worth about $1,414,000. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of N-able by 44.9% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 317,860 shares of the company’s stock worth $2,969,000 after purchasing an additional 98,429 shares during the period. AlphaQuest LLC boosted its stake in shares of N-able by 56.0% during the fourth quarter. AlphaQuest LLC now owns 104,867 shares of the company’s stock valued at $979,000 after purchasing an additional 37,650 shares in the last quarter. Edgestream Partners L.P. increased its holdings in N-able by 86.5% during the fourth quarter. Edgestream Partners L.P. now owns 417,004 shares of the company’s stock valued at $3,895,000 after buying an additional 193,387 shares during the period. Finally, Aigen Investment Management LP raised its stake in N-able by 196.9% in the fourth quarter. Aigen Investment Management LP now owns 41,319 shares of the company’s stock worth $386,000 after buying an additional 27,404 shares in the last quarter. Hedge funds and other institutional investors own 96.35% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on NABL. Needham & Company LLC reaffirmed a “buy” rating and set a $10.00 target price on shares of N-able in a research report on Friday. Royal Bank of Canada cut their target price on N-able from $12.00 to $10.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 4th. Scotiabank increased their price target on shares of N-able from $8.75 to $9.00 and gave the company a “sector perform” rating in a research report on Friday. BMO Capital Markets restated a “market perform” rating and issued a $8.50 price target (down from $13.50) on shares of N-able in a report on Tuesday, March 4th. Finally, William Blair reiterated an “outperform” rating on shares of N-able in a research note on Friday. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $9.38.

N-able Trading Down 3.0 %

Shares of NYSE:NABL opened at $7.61 on Monday. The business’s 50-day moving average is $9.24 and its 200 day moving average is $10.71. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.01 and a quick ratio of 3.01. N-able, Inc. has a 1 year low of $6.75 and a 1 year high of $15.49. The firm has a market capitalization of $1.44 billion, a P/E ratio of 38.03 and a beta of 0.41.

N-able declared that its board has initiated a stock buyback plan on Wednesday, March 12th that authorizes the company to buyback $75.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 5.7% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership 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.