AXQ Capital LP Makes New $153,000 Investment in N-able, Inc. (NYSE:NABL)

AXQ Capital LP acquired a new stake in N-able, Inc. (NYSE:NABL) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 16,433 shares of the company’s stock, valued at approximately $153,000.

A number of other institutional investors have also made changes to their positions in NABL. Blue Trust Inc. increased its stake in N-able by 95.5% in the 4th quarter. Blue Trust Inc. now owns 3,128 shares of the company’s stock valued at $29,000 after buying an additional 1,528 shares during the last quarter. KBC Group NV increased its position in shares of N-able by 104.7% in the fourth quarter. KBC Group NV now owns 5,490 shares of the company’s stock valued at $51,000 after acquiring an additional 2,808 shares during the last quarter. Impact Partnership Wealth LLC bought a new stake in N-able during the fourth quarter worth about $104,000. Harbor Capital Advisors Inc. boosted its position in N-able by 22.3% during the fourth quarter. Harbor Capital Advisors Inc. now owns 15,176 shares of the company’s stock valued at $142,000 after purchasing an additional 2,764 shares during the last quarter. Finally, Verition Fund Management LLC acquired a new position in shares of N-able during the 3rd quarter worth approximately $146,000. Institutional investors own 96.35% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on NABL shares. 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 set a $10.00 price objective on shares of N-able in a research note on Friday, March 14th. 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 reissued a “market perform” rating and set a $8.50 price target (down previously from $13.50) on shares of N-able in a research report on Tuesday, March 4th. Finally, Royal Bank of Canada cut their price objective on 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 research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $9.38.

N-able Stock Up 0.5 %

N-able stock opened at $7.53 on Tuesday. The company’s 50-day moving average price is $9.04 and its two-hundred day moving average price is $10.49. The company has a quick ratio of 3.01, a current ratio of 3.01 and a debt-to-equity ratio of 0.43. The stock has a market cap of $1.42 billion, a P/E ratio of 37.63 and a beta of 0.41. N-able, Inc. has a twelve month low of $6.75 and a twelve month high of $15.49.

N-able announced that its board has authorized a stock buyback program on Wednesday, March 12th that permits the company to buyback $75.00 million in shares. This buyback authorization permits the company to purchase up to 5.7% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its stock is undervalued.

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.