Teacher Retirement System of Texas Trims Stock Holdings in N-able, Inc. (NYSE:NABL)

Teacher Retirement System of Texas lessened its position in shares of N-able, Inc. (NYSE:NABL) by 83.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 37,803 shares of the company’s stock after selling 191,905 shares during the quarter. Teacher Retirement System of Texas’ holdings in N-able were worth $353,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Blue Trust Inc. lifted its holdings in shares of N-able by 95.5% during the fourth quarter. Blue Trust Inc. now owns 3,128 shares of the company’s stock worth $29,000 after purchasing an additional 1,528 shares during the period. KBC Group NV raised its position 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 buying an additional 2,808 shares during the last quarter. Impact Partnership Wealth LLC acquired a new stake in N-able during the 4th quarter valued at approximately $104,000. Harbor Capital Advisors Inc. lifted its stake in N-able by 22.3% during the 4th quarter. Harbor Capital Advisors Inc. now owns 15,176 shares of the company’s stock valued at $142,000 after acquiring an additional 2,764 shares during the period. Finally, Verition Fund Management LLC purchased a new stake in shares of N-able in the 3rd quarter valued at $146,000. 96.35% of the stock is owned by institutional investors and hedge funds.

N-able Stock Down 2.1 %

Shares of NABL opened at $7.11 on Tuesday. The firm has a market cap of $1.34 billion, a P/E ratio of 35.54 and a beta of 0.41. N-able, Inc. has a 12 month low of $6.75 and a 12 month high of $15.49. The stock’s 50 day moving average is $8.84 and its two-hundred day moving average is $10.31. The company has a current ratio of 3.01, a quick ratio of 3.01 and a debt-to-equity ratio of 0.43.

N-able announced that its Board of Directors has approved a stock repurchase program on Wednesday, March 12th that authorizes the company to repurchase $75.00 million in shares. This repurchase authorization authorizes the company to buy up to 5.7% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

A number of research analysts recently issued reports on NABL shares. William Blair restated an “outperform” rating on shares of N-able in a research report on Friday, March 14th. Royal Bank of Canada decreased their price objective on N-able from $12.00 to $10.00 and set an “outperform” rating for the company in a report 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. Scotiabank boosted their price target on N-able from $8.75 to $9.00 and gave the company a “sector perform” rating in a report on Friday, March 14th. Finally, BMO Capital Markets reaffirmed a “market perform” rating and set a $8.50 price objective (down previously from $13.50) on shares of N-able in a research note on Tuesday, March 4th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $9.38.

N-able 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.