Fox Run Management L.L.C. Sells 1,479 Shares of N-able, Inc. (NYSE:NABL)

Fox Run Management L.L.C. trimmed its position in N-able, Inc. (NYSE:NABL) by 5.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,698 shares of the company’s stock after selling 1,479 shares during the quarter. Fox Run Management L.L.C.’s holdings in N-able were worth $259,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in NABL. Scalar Gauge Management LLC boosted its position in shares of N-able by 40.0% in the third quarter. Scalar Gauge Management LLC now owns 978,663 shares of the company’s stock valued at $12,781,000 after acquiring an additional 279,387 shares during the period. Applied Fundamental Research LLC boosted its holdings in N-able by 32.8% in the 4th quarter. Applied Fundamental Research LLC now owns 1,083,033 shares of the company’s stock valued at $10,116,000 after purchasing an additional 267,399 shares during the period. Edgestream Partners L.P. grew its position in shares of N-able by 86.5% during the 4th quarter. Edgestream Partners L.P. now owns 417,004 shares of the company’s stock worth $3,895,000 after purchasing an additional 193,387 shares in the last quarter. Monimus Capital Management LP bought a new position in shares of N-able during the fourth quarter worth approximately $1,414,000. Finally, JPMorgan Chase & Co. raised its position in shares of N-able by 110.9% in the third quarter. JPMorgan Chase & Co. now owns 275,906 shares of the company’s stock valued at $3,603,000 after buying an additional 145,053 shares in the last quarter. Institutional investors own 96.35% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on NABL. Royal Bank of Canada reduced their price target on N-able from $12.00 to $10.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 4th. Needham & Company LLC reissued a “buy” rating and set a $10.00 target price on shares of N-able in a report on Friday, March 14th. Scotiabank boosted their price target on 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 reiterated a “market perform” rating and set a $8.50 price objective (down from $13.50) on shares of N-able in a research note on Tuesday, March 4th. Finally, William Blair restated an “outperform” rating on shares of N-able in a research report on Friday, March 14th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $9.38.

N-able Trading Up 2.2 %

Shares of NABL opened at $7.33 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 3.01 and a current ratio of 3.01. N-able, Inc. has a 52-week low of $6.75 and a 52-week high of $15.49. The firm has a market cap of $1.39 billion, a price-to-earnings ratio of 36.65 and a beta of 0.41. The business’s fifty 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 stock buyback program on Wednesday, March 12th that allows the company to buyback $75.00 million in shares. This buyback authorization allows the company to reacquire up to 5.7% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

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.