Principal Financial Group Inc. Has $5.91 Million Stake in N-able, Inc. (NYSE:NABL)

Principal Financial Group Inc. trimmed its position in shares of N-able, Inc. (NYSE:NABL) by 2.0% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 387,963 shares of the company’s stock after selling 8,076 shares during the quarter. Principal Financial Group Inc. owned 0.21% of N-able worth $5,909,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Summit Securities Group LLC acquired a new position in shares of N-able during the second quarter worth approximately $30,000. GAMMA Investing LLC raised its position in shares of N-able by 644.2% during the second quarter. GAMMA Investing LLC now owns 3,654 shares of the company’s stock worth $56,000 after purchasing an additional 3,163 shares during the period. SageView Advisory Group LLC acquired a new position in shares of N-able during the first quarter worth approximately $148,000. Summit Global Investments acquired a new position in shares of N-able during the second quarter worth approximately $191,000. Finally, ProShare Advisors LLC grew its holdings in N-able by 7.4% during the first quarter. ProShare Advisors LLC now owns 14,094 shares of the company’s stock worth $184,000 after buying an additional 971 shares in the last quarter. 96.35% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at N-able

In other N-able news, CEO John Pagliuca sold 150,956 shares of the company’s stock in a transaction on 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 completion of the transaction, the chief executive officer now owns 1,465,346 shares in the company, valued at approximately $18,712,468.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Peter C. Anastos sold 16,000 shares of the company’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $13.04, for a total transaction of $208,640.00. Following the transaction, the executive vice president now owns 322,774 shares of the company’s stock, valued at approximately $4,208,972.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO John Pagliuca sold 150,956 shares of the company’s stock in a transaction on Monday, August 12th. The shares were 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 disclosure for this sale can be found here. Insiders sold 220,783 shares of company stock worth $2,873,976 in the last quarter. 1.43% of the stock is currently owned by company insiders.

N-able Trading Down 0.9 %

Shares of N-able stock opened at $12.42 on Tuesday. The stock has a fifty day simple moving average of $13.55 and a 200 day simple moving average of $13.31. N-able, Inc. has a 12-month low of $11.50 and a 12-month high of $15.48. The company has a market capitalization of $2.30 billion, a P/E ratio of 88.71 and a beta of 0.45. The company has a current ratio of 2.97, a quick ratio of 2.97 and a debt-to-equity ratio of 0.46.

N-able (NYSE:NABL) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.14 earnings per share (EPS) for the quarter, beating 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 business’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.03 EPS. On average, sell-side analysts anticipate that N-able, Inc. will post 0.27 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

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.