Algert Global LLC Raises Holdings in N-able, Inc. (NYSE:NABL)

Algert Global LLC raised its position in shares of N-able, Inc. (NYSE:NABL) by 96.7% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 92,780 shares of the company’s stock after buying an additional 45,610 shares during the quarter. Algert Global LLC owned about 0.05% of N-able worth $1,413,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Sea Cliff Partners Management LP acquired a new position in shares of N-able in the 4th quarter valued at about $16,940,000. Jacobs Levy Equity Management Inc. acquired a new stake in shares of N-able in the first quarter valued at approximately $986,000. Stanley Laman Group Ltd. raised its holdings in shares of N-able by 25.7% during the 2nd quarter. Stanley Laman Group Ltd. now owns 212,406 shares of the company’s stock worth $3,235,000 after acquiring an additional 43,454 shares during the period. Susquehanna Fundamental Investments LLC purchased a new position in N-able during the first quarter worth about $848,000. Finally, Janus Henderson Group PLC lifted its holdings in N-able by 1,041.3% in the first quarter. Janus Henderson Group PLC now owns 219,311 shares of the company’s stock valued at $2,866,000 after acquiring an additional 200,095 shares during the last quarter. Hedge funds and other institutional investors own 96.35% of the company’s stock.

N-able Price Performance

Shares of NYSE:NABL opened at $12.41 on Friday. The company’s fifty day moving average price is $12.95 and its 200 day moving average price is $13.26. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.97 and a quick ratio of 2.97. N-able, Inc. has a 12 month low of $11.50 and a 12 month high of $15.48. The firm has a market capitalization of $2.29 billion, a P/E ratio of 88.64 and a beta of 0.45.

N-able (NYSE:NABL) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.10 by $0.04. The business 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 quarterly revenue was up 12.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.03 earnings per share. As a group, sell-side analysts predict that N-able, Inc. will post 0.27 earnings per share for the current fiscal year.

Insider Buying and Selling at N-able

In other N-able news, CEO John Pagliuca sold 150,956 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was 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 owns 1,465,346 shares of the company’s stock, valued at $18,712,468.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Peter C. Anastos sold 16,000 shares of the business’s stock in a transaction dated Thursday, August 29th. The stock was 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 owns 322,774 shares in the company, valued at approximately $4,208,972.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO John Pagliuca sold 150,956 shares of the firm’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 approximately $18,712,468.42. The disclosure for this sale can be found here. Over the last three months, insiders sold 199,351 shares of company stock valued at $2,551,240. Corporate insiders own 1.43% of the company’s stock.

Analyst Ratings Changes

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.

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.