Martingale Asset Management L P Sells 4,790 Shares of N-able, Inc. (NYSE:NABL)

Martingale Asset Management L P reduced its position in shares of N-able, Inc. (NYSE:NABL) by 5.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 91,767 shares of the company’s stock after selling 4,790 shares during the period. Martingale Asset Management L P’s holdings in N-able were worth $857,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Crescent Park Management L.P. lifted its holdings in N-able by 32.0% in the 4th quarter. Crescent Park Management L.P. now owns 947,984 shares of the company’s stock worth $8,854,000 after buying an additional 229,943 shares during the period. Vanguard Group Inc. lifted its stake in N-able by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 9,330,440 shares of the company’s stock worth $87,146,000 after acquiring an additional 161,725 shares during the period. Bank of New York Mellon Corp boosted its holdings in N-able by 3.5% in the fourth quarter. Bank of New York Mellon Corp now owns 487,320 shares of the company’s stock valued at $4,552,000 after acquiring an additional 16,253 shares in the last quarter. Barclays PLC increased its position in N-able by 398.2% during the 3rd quarter. Barclays PLC now owns 143,095 shares of the company’s stock valued at $1,869,000 after purchasing an additional 114,374 shares during the period. Finally, Conestoga Capital Advisors LLC bought a new position in N-able in the 4th quarter worth $1,006,000. 96.35% of the stock is owned by institutional investors.

N-able Price Performance

Shares of NYSE NABL opened at $6.71 on Friday. 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 company has a 50 day simple moving average of $8.21 and a two-hundred day simple moving average of $9.88. N-able, Inc. has a fifty-two week low of $6.21 and a fifty-two week high of $15.49. The company has a market capitalization of $1.27 billion, a price-to-earnings ratio of 33.53 and a beta of 0.57.

N-able declared that its Board of Directors has initiated a share buyback plan on Wednesday, March 12th that authorizes the company to buyback $75.00 million in 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 a sign that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. 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 research note on Tuesday, March 4th. Needham & Company LLC reaffirmed a “buy” rating and set a $10.00 price objective on shares of N-able in a research report on Friday, March 14th. Scotiabank increased 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. Finally, William Blair reiterated an “outperform” rating on shares of N-able in a report on Friday, March 14th. 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 MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $9.38.

N-able Company 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.