272 Capital LP Buys Shares of 196,209 N-able, Inc. (NYSE:NABL)

272 Capital LP bought a new position in N-able, Inc. (NYSE:NABL) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 196,209 shares of the company’s stock, valued at approximately $2,988,000. N-able makes up approximately 1.5% of 272 Capital LP’s investment portfolio, making the stock its 25th biggest position.

Several other hedge funds have also modified their holdings of NABL. Summit Securities Group LLC bought a new position in shares of N-able during the 2nd quarter worth approximately $30,000. GAMMA Investing LLC grew its holdings in N-able by 644.2% in 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 last quarter. SageView Advisory Group LLC acquired a new position in shares of N-able during the first quarter worth $148,000. ProShare Advisors LLC lifted its holdings in shares of N-able by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 14,094 shares of the company’s stock valued at $184,000 after purchasing an additional 971 shares during the last quarter. Finally, Summit Global Investments acquired a new stake in shares of N-able in the 2nd quarter worth $191,000. 96.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Insider Transactions at N-able

In related news, CEO John Pagliuca sold 150,956 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 1,465,346 shares in the company, valued at $18,712,468.42. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, CEO John Pagliuca sold 150,956 shares of the business’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $12.77, for a total transaction of $1,927,708.12. Following the completion of the transaction, the chief executive officer now directly owns 1,465,346 shares in the company, valued at $18,712,468.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ann Johnson sold 21,200 shares of the company’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $12.79, for a total transaction of $271,148.00. Following the completion of the sale, the director now directly owns 48,797 shares in the company, valued at $624,113.63. The disclosure for this sale can be found here. Insiders sold a total of 216,074 shares of company stock worth $2,803,153 over the last three months. 1.43% of the stock is currently owned by insiders.

N-able Trading Down 0.1 %

Shares of N-able stock opened at $12.91 on Tuesday. The firm’s 50 day simple moving average is $13.14 and its two-hundred day simple moving average is $13.27. The firm has a market capitalization of $2.39 billion, a price-to-earnings ratio of 92.21 and a beta of 0.45. N-able, Inc. has a 12-month low of $11.50 and a 12-month high of $15.48. 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 released its earnings results on Thursday, August 8th. The company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.04. N-able had a return on equity of 5.67% and a net margin of 7.19%. The firm had revenue of $119.40 million for the quarter, compared to the consensus estimate of $116.83 million. During the same period in the prior year, the firm earned $0.03 EPS. The firm’s revenue was up 12.5% on a year-over-year basis. Analysts predict that N-able, Inc. will post 0.27 EPS for the current year.

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.