Canada Pension Plan Investment Board Cuts Stake in N-able, Inc. (NYSE:NABL)

Canada Pension Plan Investment Board cut its holdings in N-able, Inc. (NYSE:NABL) by 8.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,837,521 shares of the company’s stock after selling 441,132 shares during the quarter. Canada Pension Plan Investment Board owned approximately 2.62% of N-able worth $73,675,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Victory Capital Management Inc. boosted its stake in shares of N-able by 37.1% during the fourth quarter. Victory Capital Management Inc. now owns 32,218 shares of the company’s stock valued at $427,000 after purchasing an additional 8,712 shares in the last quarter. Teacher Retirement System of Texas increased its holdings in shares of N-able by 5.1% in the 4th quarter. Teacher Retirement System of Texas now owns 56,496 shares of the company’s stock valued at $749,000 after acquiring an additional 2,729 shares during the period. Dimensional Fund Advisors LP raised its position in shares of N-able by 6.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,476,547 shares of the company’s stock worth $32,814,000 after acquiring an additional 144,098 shares in the last quarter. Norges Bank purchased a new stake in shares of N-able during the 4th quarter worth $8,402,000. Finally, Trexquant Investment LP boosted its position in N-able by 29.2% during the fourth quarter. Trexquant Investment LP now owns 40,682 shares of the company’s stock valued at $539,000 after purchasing an additional 9,202 shares in the last quarter. 96.35% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Insider Buying and Selling at N-able

In related news, CFO Tim James O’brien sold 11,195 shares of N-able stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $12.84, for a total transaction of $143,743.80. Following the completion of the sale, the chief financial officer now owns 654,232 shares of the company’s stock, valued at $8,400,338.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other N-able news, CFO Tim James O’brien sold 11,195 shares of the company’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $12.84, for a total value of $143,743.80. Following the sale, the chief financial officer now directly owns 654,232 shares of the company’s stock, valued at $8,400,338.88. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO John Pagliuca sold 150,956 shares of the 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 sale, the chief executive officer now directly owns 1,465,346 shares in the company, valued at $18,712,468.42. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 220,783 shares of company stock worth $2,873,976. 1.43% of the stock is currently owned by insiders.

N-able Stock Down 0.7 %

Shares of NABL stock opened at $12.92 on Friday. The stock’s fifty day moving average price is $13.21 and its 200 day moving average price is $13.27. N-able, Inc. has a 1-year low of $11.50 and a 1-year high of $15.48. The company has a market cap of $2.39 billion, a price-to-earnings ratio of 92.29 and a beta of 0.45. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.97 and a quick ratio of 2.97.

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