Principal Financial Group Inc. Has $4.79 Million Holdings in N-able, Inc. (NYSE:NABL)

Principal Financial Group Inc. decreased its holdings in shares of N-able, Inc. (NYSE:NABL) by 5.5% in the 3rd quarter, Holdings Channel reports. The fund owned 366,749 shares of the company’s stock after selling 21,214 shares during the period. Principal Financial Group Inc.’s holdings in N-able were worth $4,790,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Summit Securities Group LLC bought a new position in N-able in the second quarter valued at about $30,000. GAMMA Investing LLC boosted its position in N-able by 644.2% during the 2nd quarter. GAMMA Investing LLC now owns 3,654 shares of the company’s stock worth $56,000 after buying an additional 3,163 shares during the period. Summit Global Investments bought a new stake in N-able during the 2nd quarter worth approximately $191,000. ProShare Advisors LLC increased its position in N-able by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 14,094 shares of the company’s stock valued at $184,000 after acquiring an additional 971 shares during the period. Finally, Handelsbanken Fonder AB bought a new position in shares of N-able during the third quarter valued at $221,000. Institutional investors own 96.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on NABL. Needham & Company LLC reissued a “buy” rating and issued a $16.50 price objective on shares of N-able in a research note on Monday, November 11th. BMO Capital Markets reduced their price objective on shares of N-able from $14.00 to $13.50 and set a “market perform” rating for the company in a research report on Friday, November 8th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $15.00 price target on shares of N-able in a research report on Thursday.

Insider Buying and Selling

In related news, EVP Peter C. Anastos sold 16,000 shares of the company’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $13.04, for a total transaction of $208,640.00. Following the completion of the sale, the executive vice president now directly owns 322,774 shares in the company, valued at $4,208,972.96. This represents a 4.72 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.43% of the stock is currently owned by company insiders.

N-able Stock Up 1.2 %

NABL opened at $10.28 on Friday. N-able, Inc. has a twelve month low of $9.98 and a twelve month high of $15.48. The company has a quick ratio of 3.01, a current ratio of 3.01 and a debt-to-equity ratio of 0.43. The company’s 50-day moving average price is $12.21 and its two-hundred day moving average price is $13.08. The stock has a market cap of $1.91 billion, a price-to-earnings ratio of 51.40 and a beta of 0.47.

N-able (NYSE:NABL) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.03. The company had revenue of $116.40 million during the quarter, compared to analysts’ expectations of $114.75 million. N-able had a return on equity of 6.31% and a net margin of 8.08%. The firm’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.03 earnings per share. As a group, equities analysts expect that N-able, Inc. will post 0.28 earnings per share for the current year.

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.