Victory Capital Management Inc. Raises Position in N-able, Inc. (NYSE:NABL)

Victory Capital Management Inc. increased its holdings in shares of N-able, Inc. (NYSE:NABL) by 19.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 48,497 shares of the company’s stock after buying an additional 8,033 shares during the quarter. Victory Capital Management Inc.’s holdings in N-able were worth $739,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP grew its position in N-able by 6.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,476,547 shares of the company’s stock worth $32,814,000 after purchasing an additional 144,098 shares during the last quarter. Norges Bank acquired a new stake in shares of N-able during the fourth quarter worth $8,402,000. Trexquant Investment LP grew its holdings in shares of N-able by 29.2% during the fourth quarter. Trexquant Investment LP now owns 40,682 shares of the company’s stock valued at $539,000 after buying an additional 9,202 shares during the last quarter. Quest Partners LLC acquired a new position in shares of N-able in the 4th quarter valued at $229,000. Finally, Sunriver Management LLC raised its stake in N-able by 28.7% in the 4th quarter. Sunriver Management LLC now owns 2,847,909 shares of the company’s stock worth $37,735,000 after acquiring an additional 635,200 shares during the last quarter. 96.35% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Needham & Company LLC reiterated a “buy” rating and set a $16.50 price target on shares of N-able in a research note on Friday, August 9th.

N-able Stock Down 0.7 %

NABL stock opened at $12.92 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.97 and a quick ratio of 2.97. The firm’s fifty day simple moving average is $13.17 and its 200-day simple moving average is $13.27. N-able, Inc. has a 12 month low of $11.50 and a 12 month high of $15.48. The company has a market capitalization of $2.39 billion, a P/E ratio of 92.29 and a beta of 0.45.

N-able (NYSE:NABL) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.10 by $0.04. The company had revenue of $119.40 million for the quarter, compared to analyst estimates of $116.83 million. N-able had a net margin of 7.19% and a return on equity of 5.67%. The firm’s revenue was up 12.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.03 earnings per share. As a group, equities research analysts forecast that N-able, Inc. will post 0.27 earnings per share for the current year.

Insider Buying and Selling

In other N-able news, EVP Peter C. Anastos sold 16,000 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $13.04, for a total value of $208,640.00. Following the completion of the transaction, the executive vice president now directly owns 322,774 shares of the company’s stock, valued at $4,208,972.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other N-able news, EVP Peter C. Anastos sold 16,000 shares of N-able stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $13.04, for a total value of $208,640.00. Following the completion of the transaction, the executive vice president now owns 322,774 shares of the company’s stock, valued at $4,208,972.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO John Pagliuca sold 150,956 shares of the company’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $12.77, for a total transaction of $1,927,708.12. Following the completion of the transaction, the chief executive officer now owns 1,465,346 shares of the company’s stock, valued at approximately $18,712,468.42. The disclosure for this sale can be found here. Insiders have sold a total of 220,783 shares of company stock valued at $2,873,976 over the last ninety days. Company insiders own 1.43% of the company’s stock.

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.