N-able, Inc. (NYSE:NABL) Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. boosted its holdings in shares of N-able, Inc. (NYSE:NABL) by 5.0% in the 1st quarter, Holdings Channel.com reports. The fund owned 396,039 shares of the company’s stock after buying an additional 18,980 shares during the quarter. Principal Financial Group Inc.’s holdings in N-able were worth $5,176,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its stake 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 buying an additional 284,112 shares in the last quarter. Sunriver Management LLC grew its stake in shares of N-able by 28.7% in the fourth quarter. Sunriver Management LLC now owns 2,847,909 shares of the company’s stock valued at $37,735,000 after buying an additional 635,200 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of N-able by 6.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,476,547 shares of the company’s stock valued at $32,814,000 after buying an additional 144,098 shares in the last quarter. Sea Cliff Partners Management LP acquired a new stake in shares of N-able in the fourth quarter valued at $16,940,000. Finally, Norges Bank acquired a new stake in shares of N-able in the fourth quarter valued at $8,402,000. 96.35% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other N-able news, EVP Frank Colletti sold 3,333 shares of N-able stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $15.24, for a total transaction of $50,794.92. Following the completion of the sale, the executive vice president now directly owns 453,475 shares of the company’s stock, valued at approximately $6,910,959. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other N-able news, EVP Frank Colletti sold 3,333 shares of N-able stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $15.24, for a total transaction of $50,794.92. Following the completion of the sale, the executive vice president now directly owns 453,475 shares of the company’s stock, valued at approximately $6,910,959. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Kathleen Pai sold 13,390 shares of N-able stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $15.02, for a total value of $201,117.80. Following the sale, the executive vice president now directly owns 538,194 shares of the company’s stock, valued at $8,083,673.88. The disclosure for this sale can be found here. Insiders sold 21,432 shares of company stock valued at $322,736 in the last ninety days. Insiders own 1.43% of the company’s stock.

N-able Stock Down 0.9 %

NABL traded down $0.13 on Friday, hitting $14.73. 74,020 shares of the company were exchanged, compared to its average volume of 563,867. N-able, Inc. has a twelve month low of $11.50 and a twelve month high of $15.48. The company has a market cap of $2.72 billion, a price-to-earnings ratio of 106.14 and a beta of 0.47. The company has a current ratio of 3.01, a quick ratio of 3.01 and a debt-to-equity ratio of 0.47. The firm has a 50-day moving average price of $13.55 and a two-hundred day moving average price of $13.23.

N-able (NYSE:NABL) last announced its quarterly earnings results on Thursday, May 9th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.02). The business had revenue of $113.75 million for the quarter, compared to analysts’ expectations of $111.42 million. N-able had a return on equity of 4.38% and a net margin of 6.27%. On average, equities analysts predict that N-able, Inc. will post 0.24 earnings per share for the current year.

Analysts Set New Price Targets

Separately, Needham & Company LLC reaffirmed a “buy” rating and issued a $16.50 price objective on shares of N-able in a research note on Wednesday, May 29th.

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.