N-able, Inc. (NYSE:NABL) is Sea Cliff Partners Management LP’s Largest Position

Sea Cliff Partners Management LP raised its stake in N-able, Inc. (NYSE:NABL) by 11.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,146,965 shares of the company’s stock after buying an additional 226,532 shares during the period. N-able makes up approximately 11.2% of Sea Cliff Partners Management LP’s holdings, making the stock its largest holding. Sea Cliff Partners Management LP’s holdings in N-able were worth $32,698,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Summit Securities Group LLC purchased a new position in shares of N-able during the 2nd quarter worth approximately $30,000. GAMMA Investing LLC increased its stake in shares of 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 purchasing an additional 3,163 shares in the last quarter. SageView Advisory Group LLC purchased a new position in shares of N-able during the 1st quarter worth approximately $148,000. Summit Global Investments purchased a new position in shares of N-able during the 2nd quarter worth approximately $191,000. Finally, ProShare Advisors LLC increased its stake in shares of N-able by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 14,094 shares of the company’s stock worth $184,000 after purchasing an additional 971 shares in the last quarter. 96.35% of the stock is owned by hedge funds and other institutional investors.

N-able Stock Up 0.6 %

Shares of NYSE NABL opened at $12.96 on Friday. N-able, Inc. has a 1 year low of $11.50 and a 1 year high of $15.48. The firm’s 50 day moving average price is $13.04 and its 200 day moving average price is $13.27. The firm has a market cap of $2.40 billion, a P/E ratio of 92.57 and a beta of 0.45. The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.97 and a current ratio of 2.97.

N-able (NYSE:NABL) last announced its 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. N-able had a net margin of 7.19% and a return on equity of 5.67%. The firm had revenue of $119.40 million for the quarter, compared to analyst estimates of $116.83 million. During the same quarter last year, the business earned $0.03 earnings per share. N-able’s revenue was up 12.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that N-able, Inc. will post 0.27 earnings per share for the current year.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at N-able

In related news, EVP Frank Colletti sold 3,333 shares of N-able stock in a transaction on Monday, July 1st. The shares were sold at an average price of $15.24, for a total transaction of $50,794.92. Following the transaction, the executive vice president now owns 453,475 shares in the company, valued at approximately $6,910,959. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO John Pagliuca sold 150,956 shares of N-able stock in a transaction on Monday, August 12th. The shares were sold at an average price of $12.77, for a total transaction of $1,927,708.12. Following the transaction, the chief executive officer now owns 1,465,346 shares in the company, valued at approximately $18,712,468.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Frank Colletti sold 3,333 shares of N-able stock in a transaction on Monday, July 1st. The shares were sold at an average price of $15.24, for a total transaction of $50,794.92. Following the transaction, the executive vice president now owns 453,475 shares in the company, valued at approximately $6,910,959. The disclosure for this sale can be found here. Insiders have sold a total of 202,684 shares of company stock worth $2,602,035 in the last quarter. 1.43% of the stock is owned by insiders.

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.