Rhumbline Advisers Buys 1,668 Shares of N-able, Inc. (NYSE:NABL)

Rhumbline Advisers increased its stake in N-able, Inc. (NYSE:NABL) by 0.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 203,826 shares of the company’s stock after purchasing an additional 1,668 shares during the period. Rhumbline Advisers owned approximately 0.11% of N-able worth $3,104,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of NABL. Summit Securities Group LLC bought a new position in N-able during the second quarter valued at approximately $30,000. GAMMA Investing LLC grew its position in N-able by 644.2% during the second quarter. GAMMA Investing LLC now owns 3,654 shares of the company’s stock valued at $56,000 after acquiring an additional 3,163 shares during the last quarter. SageView Advisory Group LLC bought a new position in N-able during the first quarter valued at approximately $148,000. ProShare Advisors LLC grew its position in N-able by 7.4% during the first quarter. ProShare Advisors LLC now owns 14,094 shares of the company’s stock valued at $184,000 after acquiring an additional 971 shares during the last quarter. Finally, Summit Global Investments bought a new position in N-able during the second quarter valued at approximately $191,000. 96.35% of the stock is currently owned by institutional investors.

N-able Stock Down 1.2 %

Shares of N-able stock opened at $12.74 on Wednesday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.97 and a current ratio of 2.97. N-able, Inc. has a 52-week low of $11.50 and a 52-week high of $15.48. The stock has a market capitalization of $2.35 billion, a price-to-earnings ratio of 91.00 and a beta of 0.45. The company’s 50 day moving average price is $13.28 and its 200-day moving average price is $13.28.

N-able (NYSE:NABL) last issued its earnings results on Thursday, August 8th. The company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.04. N-able had a net margin of 7.19% and a return on equity of 5.67%. The firm had revenue of $119.40 million for the quarter, compared to analysts’ expectations of $116.83 million. During the same quarter last year, the business earned $0.03 earnings per share. The business’s revenue was up 12.5% on a year-over-year basis. Equities research analysts forecast that N-able, Inc. will post 0.27 EPS for the current year.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In related news, Director Ann Johnson sold 21,200 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $12.79, for a total value of $271,148.00. Following the completion of the sale, the director now owns 48,797 shares of the company’s stock, valued at $624,113.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Frank Colletti sold 3,333 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $15.24, for a total value of $50,794.92. Following the completion of the sale, the executive vice president now owns 453,475 shares of the company’s stock, valued at $6,910,959. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ann Johnson sold 21,200 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $12.79, for a total value of $271,148.00. Following the completion of the sale, the director now directly owns 48,797 shares of the company’s stock, valued at approximately $624,113.63. The disclosure for this sale can be found here. Insiders sold 220,783 shares of company stock valued at $2,873,976 over the last quarter. 1.43% of the stock is owned by company insiders.

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.