Amalgamated Bank Sells 1,417 Shares of N-able, Inc. (NYSE:NABL)

Amalgamated Bank cut its stake in N-able, Inc. (NYSE:NABL) by 6.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,065 shares of the company’s stock after selling 1,417 shares during the period. Amalgamated Bank’s holdings in N-able were worth $321,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in NABL. Sea Cliff Partners Management LP acquired a new stake in shares of N-able during the fourth quarter worth $16,940,000. Sunriver Management LLC boosted its position in N-able by 28.7% during the fourth quarter. Sunriver Management LLC now owns 2,847,909 shares of the company’s stock valued at $37,735,000 after acquiring an additional 635,200 shares during the last quarter. Norges Bank acquired a new stake in N-able during the 4th quarter worth about $8,402,000. Dimensional Fund Advisors LP raised its position in shares of N-able by 13.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,114,043 shares of the company’s stock worth $47,427,000 after acquiring an additional 371,013 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of N-able by 3.4% in the 4th quarter. Vanguard Group Inc. now owns 8,697,270 shares of the company’s stock valued at $115,239,000 after purchasing an additional 284,112 shares during the period. Institutional investors and hedge funds own 96.35% of the company’s stock.

N-able Price Performance

NABL stock opened at $13.06 on Tuesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.97 and a quick ratio of 2.97. The company’s 50-day moving average is $13.00 and its 200-day moving average is $13.27. The stock has a market capitalization of $2.41 billion, a PE ratio of 93.29 and a beta of 0.45. N-able, Inc. has a 1 year low of $11.50 and a 1 year high of $15.48.

N-able (NYSE:NABL) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.14 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 analysts’ expectations of $116.83 million. N-able had a return on equity of 5.67% and a net margin of 7.19%. The company’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.03 earnings per share. Equities research analysts expect that N-able, Inc. will post 0.27 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Peter C. Anastos sold 16,000 shares of the business’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $13.04, for a total transaction of $208,640.00. Following the completion of the sale, the executive vice president now directly owns 322,774 shares of the company’s stock, valued at $4,208,972.96. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, EVP Peter C. Anastos sold 16,000 shares of N-able stock in a transaction that occurred 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 $4,208,972.96. The sale was disclosed in a legal filing with the SEC, 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 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 of the company’s stock, valued at approximately $18,712,468.42. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 199,351 shares of company stock worth $2,551,240. Insiders own 1.43% of the company’s stock.

Wall Street Analyst Weigh In

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

About N-able

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.