Exchange Traded Concepts LLC Raises Stock Holdings in N-able, Inc. (NYSE:NABL)

Exchange Traded Concepts LLC raised its position in N-able, Inc. (NYSE:NABL) by 169.1% in the third quarter, Holdings Channel.com reports. The institutional investor owned 135,799 shares of the company’s stock after purchasing an additional 85,326 shares during the period. Exchange Traded Concepts LLC’s holdings in N-able were worth $1,774,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Scalar Gauge Management LLC acquired a new position in shares of N-able in the second quarter valued at approximately $10,650,000. Dimensional Fund Advisors LP increased its holdings in shares of N-able by 13.5% in the second quarter. Dimensional Fund Advisors LP now owns 3,114,043 shares of the company’s stock valued at $47,427,000 after purchasing an additional 371,013 shares during the period. Vanguard Group Inc. increased its holdings in shares of N-able by 3.4% in the fourth 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. Sea Cliff Partners Management LP increased its holdings in shares of N-able by 11.8% in the second quarter. Sea Cliff Partners Management LP now owns 2,146,965 shares of the company’s stock valued at $32,698,000 after purchasing an additional 226,532 shares during the period. Finally, Janus Henderson Group PLC increased its holdings in shares of 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 purchasing an additional 200,095 shares during the period. Hedge funds and other institutional investors own 96.35% of the company’s stock.

N-able Trading Down 0.6 %

Shares of NABL stock opened at $12.53 on Wednesday. The business’s fifty day moving average price is $12.74 and its 200 day moving average price is $13.22. N-able, Inc. has a 1-year low of $11.50 and a 1-year high of $15.48. The firm has a market capitalization of $2.31 billion, a PE ratio of 89.46 and a beta of 0.45. 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 (NYSE:NABL) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.14 earnings per share 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 quarter in the prior year, the company posted $0.03 earnings per share. N-able’s quarterly revenue was up 12.5% on a year-over-year basis. As a group, sell-side analysts forecast that N-able, Inc. will post 0.27 EPS for the current fiscal year.

Insider Buying and Selling

In related 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 transaction of $1,927,708.12. Following the transaction, the chief executive officer now owns 1,465,346 shares of the company’s stock, valued at $18,712,468.42. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other N-able 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 value of $208,640.00. Following the sale, the executive vice president now owns 322,774 shares of the company’s stock, 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 completion of the sale, the chief executive officer now directly owns 1,465,346 shares in the company, valued at $18,712,468.42. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 199,351 shares of company stock valued at $2,551,240 over the last quarter. Company insiders own 1.43% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Needham & Company LLC reissued a “buy” rating and issued a $16.50 target price 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.