Quest Partners LLC lowered its stake in N-able, Inc. (NYSE:NABL – Free Report) by 12.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 35,123 shares of the company’s stock after selling 5,114 shares during the period. Quest Partners LLC’s holdings in N-able were worth $535,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of the stock. Summit Securities Group LLC acquired a new position in N-able during the second quarter worth $30,000. GAMMA Investing LLC grew its holdings in N-able by 644.2% during the second quarter. GAMMA Investing LLC now owns 3,654 shares of the company’s stock worth $56,000 after acquiring an additional 3,163 shares during the period. SageView Advisory Group LLC acquired a new position in N-able during the first quarter worth $148,000. Summit Global Investments acquired a new position in N-able during the second quarter worth $191,000. Finally, ProShare Advisors LLC grew its holdings in N-able by 7.4% during the first quarter. ProShare Advisors LLC now owns 14,094 shares of the company’s stock worth $184,000 after acquiring an additional 971 shares during the period. Institutional investors and hedge funds own 96.35% of the company’s stock.
N-able Stock Up 0.6 %
NABL opened at $12.36 on Friday. The business’s fifty day moving average is $13.40 and its two-hundred day moving average is $13.29. The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.97 and a current ratio of 2.97. The company has a market cap of $2.28 billion, a price-to-earnings ratio of 88.29 and a beta of 0.45. N-able, Inc. has a one year low of $11.50 and a one year high of $15.48.
Insider Activity
In other news, EVP Frank Colletti sold 3,333 shares of the company’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $15.24, for a total value of $50,794.92. Following the sale, the executive vice president now directly owns 453,475 shares in the company, valued at $6,910,959. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Frank Colletti sold 3,333 shares of the company’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $15.24, for a total value of $50,794.92. Following the sale, the executive vice president now directly owns 453,475 shares in the company, valued at $6,910,959. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ann Johnson sold 21,200 shares of the company’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $12.79, for a total value of $271,148.00. Following the completion of the sale, the director now owns 48,797 shares in the company, valued at $624,113.63. The disclosure for this sale can be found here. Insiders have sold 220,783 shares of company stock worth $2,873,976 over the last three months. 1.43% of the stock is currently owned by corporate insiders.
Wall Street Analyst Weigh In
Separately, Needham & Company LLC reaffirmed a “buy” rating and set a $16.50 price objective on shares of N-able in a report on Friday, August 9th.
Read Our Latest Stock Report on N-able
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.
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