Victory Capital Management Inc. Has $619,000 Position in N-able, Inc. (NYSE:NABL)

Victory Capital Management Inc. boosted its holdings in N-able, Inc. (NYSE:NABL) by 19.5% in the 4th quarter, HoldingsChannel.com reports. The firm owned 66,314 shares of the company’s stock after acquiring an additional 10,817 shares during the quarter. Victory Capital Management Inc.’s holdings in N-able were worth $619,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of NABL. Blue Trust Inc. grew its position in N-able by 95.5% in the 4th quarter. Blue Trust Inc. now owns 3,128 shares of the company’s stock valued at $29,000 after purchasing an additional 1,528 shares during the period. KBC Group NV boosted its holdings in N-able by 104.7% during the 4th quarter. KBC Group NV now owns 5,490 shares of the company’s stock worth $51,000 after acquiring an additional 2,808 shares during the last quarter. Impact Partnership Wealth LLC purchased a new position in N-able during the 4th quarter worth $104,000. Harbor Capital Advisors Inc. boosted its holdings in N-able by 22.3% during the 4th quarter. Harbor Capital Advisors Inc. now owns 15,176 shares of the company’s stock worth $142,000 after acquiring an additional 2,764 shares during the last quarter. Finally, Verition Fund Management LLC purchased a new position in N-able during the 3rd quarter worth $146,000. Institutional investors and hedge funds own 96.35% of the company’s stock.

Wall Street Analyst Weigh In

NABL has been the topic of a number of analyst reports. Royal Bank of Canada cut their price objective on shares of N-able from $12.00 to $10.00 and set an “outperform” rating on the stock in a report on Tuesday, March 4th. BMO Capital Markets reaffirmed a “market perform” rating and set a $8.50 price objective (down from $13.50) on shares of N-able in a report on Tuesday, March 4th. William Blair reaffirmed an “outperform” rating on shares of N-able in a report on Friday, March 14th. Needham & Company LLC reaffirmed a “buy” rating and set a $10.00 price objective on shares of N-able in a report on Friday, March 14th. Finally, Scotiabank lifted their target price on N-able from $8.75 to $9.00 and gave the stock a “sector perform” rating in a research note on Friday, March 14th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $9.38.

N-able Trading Down 1.5 %

NYSE NABL opened at $7.51 on Friday. The stock has a market capitalization of $1.42 billion, a price-to-earnings ratio of 37.53 and a beta of 0.41. N-able, Inc. has a one year low of $6.75 and a one year high of $15.49. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.01 and a quick ratio of 3.01. The business’s fifty day moving average is $9.07 and its 200-day moving average is $10.56.

N-able announced that its board has approved a share buyback program on Wednesday, March 12th that allows the company to buyback $75.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 5.7% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

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.