Scalar Gauge Management LLC Purchases Shares of 699,276 N-able, Inc. (NYSE:NABL)

Scalar Gauge Management LLC acquired a new position in N-able, Inc. (NYSE:NABL) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 699,276 shares of the company’s stock, valued at approximately $10,650,000. N-able makes up 6.2% of Scalar Gauge Management LLC’s investment portfolio, making the stock its 2nd biggest holding.

Several other institutional investors have also recently modified their holdings of NABL. Summit Securities Group LLC bought a new position in shares of N-able during the second quarter valued at about $30,000. GAMMA Investing LLC increased its stake in N-able by 644.2% in the 2nd quarter. GAMMA Investing LLC now owns 3,654 shares of the company’s stock worth $56,000 after purchasing an additional 3,163 shares during the period. SageView Advisory Group LLC bought a new stake in N-able in the first quarter valued at approximately $148,000. Summit Global Investments bought a new stake in N-able in the second quarter valued at approximately $191,000. Finally, ProShare Advisors LLC grew its holdings in shares of N-able by 7.4% in the first quarter. ProShare Advisors LLC now owns 14,094 shares of the company’s stock worth $184,000 after purchasing an additional 971 shares during the last quarter. 96.35% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

N-able Stock Performance

Shares of NABL stock opened at $12.91 on Tuesday. The company has a quick ratio of 2.97, a current ratio of 2.97 and a debt-to-equity ratio of 0.46. The stock has a fifty day moving average of $13.14 and a 200 day moving average of $13.27. The firm has a market capitalization of $2.39 billion, a price-to-earnings ratio of 92.21 and a beta of 0.45. N-able, Inc. has a 52 week low of $11.50 and a 52 week high of $15.48.

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

Insider Buying and Selling

In other news, Director Ann Johnson sold 21,200 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $12.79, for a total value of $271,148.00. Following the sale, the director now directly owns 48,797 shares of the company’s stock, valued at approximately $624,113.63. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO John Pagliuca sold 150,956 shares of N-able stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $12.77, for a total value 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 transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Ann Johnson sold 21,200 shares of the stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $12.79, for a total transaction of $271,148.00. Following the sale, the director now directly owns 48,797 shares in the company, valued at $624,113.63. The disclosure for this sale can be found here. Insiders have sold a total of 216,074 shares of company stock valued at $2,803,153 over the last ninety days. Company insiders own 1.43% of the company’s stock.

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.