State of Alaska Department of Revenue Cuts Stake in N-able, Inc. (NYSE:NABL)

State of Alaska Department of Revenue cut its stake in N-able, Inc. (NYSE:NABL) by 2.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,168 shares of the company’s stock after selling 1,054 shares during the quarter. State of Alaska Department of Revenue’s holdings in N-able were worth $524,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of NABL. Scalar Gauge Management LLC purchased a new stake in shares of N-able during the second quarter worth $10,650,000. Dimensional Fund Advisors LP grew its stake in N-able by 13.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,114,043 shares of the company’s stock valued at $47,427,000 after acquiring an additional 371,013 shares in the last quarter. Sea Cliff Partners Management LP grew its stake in N-able by 11.8% during the 2nd quarter. Sea Cliff Partners Management LP now owns 2,146,965 shares of the company’s stock valued at $32,698,000 after acquiring an additional 226,532 shares in the last quarter. Janus Henderson Group PLC lifted its stake in N-able by 1,041.3% in the 1st quarter. Janus Henderson Group PLC now owns 219,311 shares of the company’s stock worth $2,866,000 after purchasing an additional 200,095 shares in the last quarter. Finally, 272 Capital LP acquired a new position in shares of N-able during the 2nd quarter worth approximately $2,988,000. 96.35% of the stock is currently owned by institutional investors and hedge funds.

N-able Stock Down 6.0 %

NABL stock opened at $11.96 on Friday. The firm has a market cap of $2.22 billion, a PE ratio of 70.35 and a beta of 0.47. N-able, Inc. has a one year low of $11.50 and a one year high of $15.48. The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.97 and a current ratio of 2.97. The firm’s 50 day moving average price is $12.60 and its 200-day moving average price is $13.20.

N-able (NYSE:NABL) last issued its quarterly earnings data 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 firm had revenue of $119.40 million during the quarter, compared to the consensus estimate of $116.83 million. N-able had a return on equity of 5.67% and a net margin of 7.19%. The company’s quarterly revenue was up 12.5% on a year-over-year basis. During the same period last year, the company earned $0.03 EPS. On average, equities research analysts anticipate that N-able, Inc. will post 0.27 EPS for the current year.

Analyst Ratings Changes

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

Insider Buying and Selling at N-able

In other news, Director Ann Johnson sold 21,200 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $12.79, for a total value of $271,148.00. Following the transaction, the director now directly owns 48,797 shares in the company, valued at approximately $624,113.63. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director Ann Johnson sold 21,200 shares of N-able stock in a transaction on Monday, August 12th. The stock was sold at an average price of $12.79, for a total value of $271,148.00. Following the completion of the sale, the director now directly owns 48,797 shares of the company’s stock, valued at approximately $624,113.63. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO John Pagliuca sold 150,956 shares of the 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 transaction, the chief executive officer now directly owns 1,465,346 shares in the company, valued at approximately $18,712,468.42. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 199,351 shares of company stock worth $2,551,240 over the last three months. 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.