N-able, Inc. (NYSE:NABL) Shares Sold by Scalar Gauge Management LLC

Scalar Gauge Management LLC lowered its position in shares of N-able, Inc. (NYSE:NABL) by 58.0% during the fourth quarter, Holdings Channel reports. The firm owned 411,330 shares of the company’s stock after selling 567,333 shares during the quarter. N-able makes up about 1.8% of Scalar Gauge Management LLC’s portfolio, making the stock its 19th largest holding. Scalar Gauge Management LLC’s holdings in N-able were worth $3,842,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in NABL. Norges Bank purchased a new position in N-able during the 4th quarter worth approximately $3,450,000. Applied Fundamental Research LLC boosted its holdings in shares of N-able by 32.8% in the fourth quarter. Applied Fundamental Research LLC now owns 1,083,033 shares of the company’s stock valued at $10,116,000 after acquiring an additional 267,399 shares during the period. Edgestream Partners L.P. grew its position in shares of N-able by 86.5% during the fourth quarter. Edgestream Partners L.P. now owns 417,004 shares of the company’s stock worth $3,895,000 after acquiring an additional 193,387 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of N-able by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 9,330,440 shares of the company’s stock valued at $87,146,000 after acquiring an additional 161,725 shares during the period. Finally, Monimus Capital Management LP purchased a new stake in N-able in the 4th quarter valued at $1,414,000. 96.35% of the stock is owned by hedge funds and other institutional investors.

N-able Trading Down 1.3 %

NYSE NABL opened at $7.26 on Monday. 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 stock has a market capitalization of $1.37 billion, a P/E ratio of 36.28 and a beta of 0.41. N-able, Inc. has a 52-week low of $6.75 and a 52-week high of $15.49. The firm has a 50-day moving average price of $8.88 and a 200 day moving average price of $10.35.

N-able announced that its board has approved a stock repurchase plan on Wednesday, March 12th that allows the company to repurchase $75.00 million in shares. This repurchase authorization allows the company to repurchase up to 5.7% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

NABL has been the topic of several research reports. William Blair reissued an “outperform” rating on shares of N-able in a research report on Friday, March 14th. Scotiabank increased their target price on shares of N-able from $8.75 to $9.00 and gave the stock a “sector perform” rating in a research note on Friday, March 14th. BMO Capital Markets restated a “market perform” rating and issued a $8.50 price target (down previously from $13.50) on shares of N-able in a research report 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. Finally, Royal Bank of Canada dropped their target price on N-able from $12.00 to $10.00 and set an “outperform” rating on the stock in a report on Tuesday, March 4th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, N-able has a consensus rating of “Moderate Buy” and a consensus target price of $9.38.

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.