Quantbot Technologies LP Acquires 38,287 Shares of N-able, Inc. (NYSE:NABL)

Quantbot Technologies LP lifted its holdings in shares of N-able, Inc. (NYSE:NABL) by 144.5% during the 4th quarter, Holdings Channel reports. The firm owned 64,777 shares of the company’s stock after purchasing 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 Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NABL. Blue Trust Inc. grew its position in N-able by 95.5% during the fourth quarter. Blue Trust Inc. now owns 3,128 shares of the company’s stock worth $29,000 after buying an additional 1,528 shares in the last quarter. KBC Group NV lifted its position in shares of N-able by 104.7% during the 4th 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 period. Impact Partnership Wealth LLC acquired a new stake in shares of N-able during the 4th quarter worth $104,000. Verition Fund Management LLC acquired a new stake in shares of N-able during the 3rd quarter worth $146,000. Finally, Intech Investment Management LLC bought a new position in shares of N-able in the third quarter worth $188,000. 96.35% of the stock is currently owned by institutional investors and hedge funds.

N-able Price Performance

NABL stock opened at $7.33 on Friday. The stock has a market cap of $1.39 billion, a price-to-earnings ratio of 36.65 and a beta of 0.41. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.01 and a quick ratio of 3.01. The company has a 50 day simple moving average of $8.92 and a 200 day simple moving average of $10.41. N-able, Inc. has a 1 year low of $6.75 and a 1 year high of $15.49.

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

Wall Street Analysts Forecast Growth

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