N-able (NYSE:NABL) Hits New 52-Week Low Following Analyst Downgrade

N-able, Inc. (NYSE:NABL) shares hit a new 52-week low during mid-day trading on Friday after BMO Capital Markets lowered their price target on the stock from $14.00 to $13.50. BMO Capital Markets currently has a market perform rating on the stock. N-able traded as low as $11.33 and last traded at $11.51, with a volume of 77436 shares traded. The stock had previously closed at $11.96.

Separately, Needham & Company LLC reiterated a “buy” rating and set a $16.50 price target on shares of N-able in a report on Friday, August 9th.

Insider Buying and Selling at N-able

In other N-able news, CEO John Pagliuca sold 150,956 shares of the firm’s stock in a transaction dated Monday, August 12th. The stock was 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 owns 1,465,346 shares of the company’s stock, valued at approximately $18,712,468.42. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other N-able news, CEO John Pagliuca sold 150,956 shares of N-able stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 1,465,346 shares in the company, valued at approximately $18,712,468.42. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Tim James O’brien sold 11,195 shares of N-able stock in a transaction on Monday, August 12th. The shares were sold at an average price of $12.84, for a total transaction of $143,743.80. Following the completion of the transaction, the chief financial officer now directly owns 654,232 shares of the company’s stock, valued at $8,400,338.88. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 199,351 shares of company stock worth $2,551,240 over the last three months. Corporate insiders own 1.43% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Summit Securities Group LLC purchased a new position in shares of N-able in the second quarter worth about $30,000. GAMMA Investing LLC grew its holdings in shares of N-able by 644.2% during the 2nd quarter. GAMMA Investing LLC now owns 3,654 shares of the company’s stock worth $56,000 after purchasing an additional 3,163 shares during the period. SageView Advisory Group LLC purchased a new position in shares of N-able during the 1st quarter worth approximately $148,000. Entropy Technologies LP purchased a new stake in N-able during the 3rd quarter worth about $149,000. Finally, Summit Global Investments acquired a new stake in N-able in the 2nd quarter valued at about $191,000. Institutional investors and hedge funds own 96.35% of the company’s stock.

N-able Stock Performance

The stock has a 50-day moving average price of $12.60 and a 200 day moving average price of $13.20. The company has a quick ratio of 2.97, a current ratio of 2.97 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $2.13 billion, a price-to-earnings ratio of 70.35 and a beta of 0.47.

N-able (NYSE:NABL) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.14 earnings per share for the quarter, beating 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 company had revenue of $119.40 million for the quarter, compared to analysts’ expectations of $116.83 million. During the same period last year, the firm earned $0.03 earnings per share. N-able’s quarterly revenue was up 12.5% on a year-over-year basis. On average, analysts forecast that N-able, Inc. will post 0.27 EPS for the current year.

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.