Scalar Gauge Management LLC Takes $10.65 Million Position in N-able, Inc. (NYSE:NABL)

Scalar Gauge Management LLC bought a new position in shares of N-able, Inc. (NYSE:NABL) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 699,276 shares of the company’s stock, valued at approximately $10,650,000. N-able comprises approximately 6.2% of Scalar Gauge Management LLC’s investment portfolio, making the stock its 2nd largest holding. Scalar Gauge Management LLC owned 0.38% of N-able at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Summit Securities Group LLC acquired a new stake in shares of N-able during the 2nd quarter worth approximately $30,000. GAMMA Investing LLC lifted its holdings in shares of N-able by 644.2% in 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 in the last quarter. SageView Advisory Group LLC acquired a new position in N-able during the first quarter worth $148,000. ProShare Advisors LLC increased its position in shares of N-able by 7.4% during the first quarter. ProShare Advisors LLC now owns 14,094 shares of the company’s stock worth $184,000 after acquiring an additional 971 shares in the last quarter. Finally, Summit Global Investments bought a new stake in N-able during the 2nd quarter worth approximately $191,000. 96.35% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other N-able news, 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 transaction of $201,117.80. Following the completion of the transaction, the executive vice president now owns 538,194 shares of the company’s stock, valued at approximately $8,083,673.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Frank Colletti sold 3,333 shares of the business’s 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 transaction, the executive vice president now directly owns 453,475 shares in the company, valued at $6,910,959. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Kathleen Pai sold 13,390 shares of N-able stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $15.02, for a total value of $201,117.80. Following the sale, the executive vice president now owns 538,194 shares of the company’s stock, valued at approximately $8,083,673.88. The disclosure for this sale can be found here. Over the last three months, insiders sold 216,074 shares of company stock worth $2,803,153. 1.43% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

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

N-able Stock Performance

NYSE NABL opened at $12.91 on Tuesday. The company has a market capitalization of $2.39 billion, a PE ratio of 92.21 and a beta of 0.45. 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 company has a 50-day simple moving average of $13.14 and a 200 day simple moving average of $13.27.

N-able (NYSE:NABL) last released its earnings results on Thursday, August 8th. The company reported $0.14 earnings per share (EPS) for the quarter, topping 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 business had revenue of $119.40 million during the quarter, compared to the consensus estimate of $116.83 million. During the same period last year, the business posted $0.03 earnings per share. The business’s revenue for the quarter was up 12.5% on a year-over-year basis. On average, research analysts predict 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.