Handelsbanken Fonder AB Acquires Shares of 16,900 N-able, Inc. (NYSE:NABL)

Handelsbanken Fonder AB purchased a new position in shares of N-able, Inc. (NYSE:NABL) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 16,900 shares of the company’s stock, valued at approximately $221,000.

A number of other institutional investors have also modified their holdings of the business. Summit Securities Group LLC acquired a new position in N-able in the 2nd quarter valued at about $30,000. GAMMA Investing LLC increased its position in N-able by 644.2% during the 2nd 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 purchased a new position in N-able in the first quarter worth $148,000. Summit Global Investments purchased a new position in N-able in the second quarter valued at about $191,000. Finally, ProShare Advisors LLC raised its stake 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 worth $184,000 after buying an additional 971 shares during the last quarter. 96.35% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Peter C. Anastos sold 16,000 shares of the stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $13.04, for a total value of $208,640.00. Following the transaction, the executive vice president now owns 322,774 shares in the company, valued at approximately $4,208,972.96. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other N-able news, Director Ann Johnson sold 21,200 shares of the firm’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $12.79, for a total value of $271,148.00. Following the sale, the director now directly owns 48,797 shares in the company, valued at $624,113.63. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 value of $208,640.00. Following the transaction, the executive vice president now owns 322,774 shares in the company, valued at $4,208,972.96. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 199,351 shares of company stock worth $2,551,240 in the last quarter. 1.43% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

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

N-able Price Performance

NYSE:NABL opened at $12.60 on Tuesday. The company has a current ratio of 2.97, a quick ratio of 2.97 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $2.33 billion, a PE ratio of 90.00 and a beta of 0.45. N-able, Inc. has a 52 week low of $11.50 and a 52 week high of $15.48. The stock has a 50 day moving average of $12.75 and a 200-day moving average of $13.23.

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, topping analysts’ consensus estimates 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 analyst estimates of $116.83 million. During the same period in the previous year, the company earned $0.03 earnings per share. N-able’s revenue was up 12.5% compared to the same quarter last year. Analysts predict that N-able, Inc. will post 0.27 EPS for the current year.

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.