Charles Schwab Investment Management Inc. Reduces Holdings in N-able, Inc. (NYSE:NABL)

Charles Schwab Investment Management Inc. cut its holdings in shares of N-able, Inc. (NYSE:NABL) by 0.7% during the fourth quarter, HoldingsChannel.com reports. The fund owned 603,860 shares of the company’s stock after selling 4,217 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in N-able were worth $5,640,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Victory Capital Management Inc. lifted its position in shares of N-able by 14.4% during the 3rd quarter. Victory Capital Management Inc. now owns 55,497 shares of the company’s stock valued at $725,000 after acquiring an additional 7,000 shares during the period. Intech Investment Management LLC acquired a new stake in shares of N-able during the third quarter worth $188,000. Algert Global LLC boosted its stake in N-able by 73.6% in the 3rd quarter. Algert Global LLC now owns 161,100 shares of the company’s stock worth $2,104,000 after buying an additional 68,320 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in N-able in the third quarter valued at approximately $481,000. Finally, FMR LLC grew its stake in shares of N-able by 46.3% during the 3rd quarter. FMR LLC now owns 110,698 shares of the company’s stock valued at $1,446,000 after buying an additional 35,021 shares during the period. Institutional investors and hedge funds own 96.35% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on NABL. BMO Capital Markets reiterated a “market perform” rating and issued a $8.50 target price (down previously from $13.50) on shares of N-able in a research note on Tuesday, March 4th. Needham & Company LLC reaffirmed a “buy” rating and set a $10.00 target price on shares of N-able in a report on Friday, March 14th. William Blair reaffirmed an “outperform” rating on shares of N-able in a research report on Friday, March 14th. Scotiabank raised their target price on N-able from $8.75 to $9.00 and gave the company a “sector perform” rating in a research note on Friday, March 14th. Finally, Royal Bank of Canada cut their price target 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 given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $9.38.

N-able Price Performance

NYSE NABL opened at $7.29 on Wednesday. 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 $1.38 billion, a PE ratio of 36.45 and a beta of 0.41. The company has a 50 day moving average price of $9.00 and a two-hundred day moving average price of $10.45. N-able, Inc. has a 12-month low of $6.75 and a 12-month high of $15.49.

N-able declared that its Board of Directors has approved a stock repurchase plan on Wednesday, March 12th that authorizes the company to buyback $75.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 5.7% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership 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.