Quantbot Technologies LP Has $605,000 Stock Position in N-able, Inc. (NYSE:NABL)

Quantbot Technologies LP increased its stake in shares of N-able, Inc. (NYSE:NABL) by 144.5% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 64,777 shares of the company’s stock after acquiring an additional 38,287 shares during the period. Quantbot Technologies LP’s holdings in N-able were worth $605,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of NABL. Victory Capital Management Inc. boosted its holdings in shares of N-able by 14.4% in the 3rd quarter. Victory Capital Management Inc. now owns 55,497 shares of the company’s stock valued at $725,000 after buying an additional 7,000 shares during the last quarter. Intech Investment Management LLC bought a new stake in N-able during the third quarter worth $188,000. Algert Global LLC lifted its stake in N-able by 73.6% in the third quarter. Algert Global LLC now owns 161,100 shares of the company’s stock valued at $2,104,000 after acquiring an additional 68,320 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of N-able in the 3rd quarter valued at about $481,000. Finally, FMR LLC increased its stake in shares of N-able by 46.3% during the 3rd quarter. FMR LLC now owns 110,698 shares of the company’s stock worth $1,446,000 after purchasing an additional 35,021 shares during the last quarter. 96.35% of the stock is currently owned by institutional investors.

N-able Price Performance

N-able stock opened at $7.33 on Friday. The company has a market capitalization of $1.39 billion, a price-to-earnings ratio of 36.65 and a beta of 0.41. The company has a current ratio of 3.01, a quick ratio of 3.01 and a debt-to-equity ratio of 0.43. N-able, Inc. has a 12 month low of $6.75 and a 12 month high of $15.49. The stock’s 50 day moving average is $8.92 and its 200-day moving average is $10.41.

N-able declared that its Board of Directors has approved a share repurchase plan on Wednesday, March 12th that permits the company to repurchase $75.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 5.7% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on NABL. Scotiabank raised their target price on shares of N-able from $8.75 to $9.00 and gave the company a “sector perform” rating in a research note on Friday, March 14th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $8.50 price objective (down from $13.50) on shares of N-able in a research report on Tuesday, March 4th. William Blair reissued an “outperform” rating on shares of N-able in a report on Friday, March 14th. Needham & Company LLC restated a “buy” rating and issued a $10.00 price target on shares of N-able in a research note on Friday, March 14th. Finally, Royal Bank of Canada reduced their price objective on shares of N-able from $12.00 to $10.00 and set an “outperform” rating for the company in a research report on Tuesday, March 4th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $9.38.

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.