Squarepoint Ops LLC Acquires New Stake in N-able, Inc. (NYSE:NABL)

Squarepoint Ops 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 89,365 shares of the company’s stock, valued at approximately $1,361,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NABL. Summit Securities Group LLC acquired a new position in shares of N-able in the 2nd quarter worth approximately $30,000. GAMMA Investing LLC raised its stake in N-able by 644.2% during the second quarter. GAMMA Investing LLC now owns 3,654 shares of the company’s stock worth $56,000 after buying an additional 3,163 shares during the last quarter. SageView Advisory Group LLC acquired a new position in N-able in the first quarter valued at $148,000. ProShare Advisors LLC boosted 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 acquired a new stake in N-able during the 2nd quarter worth about $191,000. 96.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In other news, Director Ann Johnson sold 21,200 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $12.79, for a total transaction of $271,148.00. Following the completion of the sale, the director now owns 48,797 shares in the company, valued at $624,113.63. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other N-able news, Director Ann Johnson sold 21,200 shares of the firm’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $12.79, for a total value of $271,148.00. Following the transaction, the director now directly owns 48,797 shares of the company’s stock, valued at approximately $624,113.63. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Tim James O’brien sold 11,195 shares of N-able stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $12.84, for a total transaction of $143,743.80. Following the transaction, the chief financial officer now owns 654,232 shares of the company’s stock, valued at $8,400,338.88. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 199,351 shares of company stock worth $2,551,240. Corporate insiders own 1.43% of the company’s stock.

N-able Stock Up 1.8 %

N-able stock opened at $12.63 on Friday. The company has a market capitalization of $2.33 billion, a PE ratio of 90.21 and a beta of 0.45. N-able, Inc. has a 12-month low of $11.50 and a 12-month high of $15.48. The firm’s fifty day moving average is $12.89 and its 200 day moving average is $13.25. The company has a quick ratio of 2.97, a current ratio of 2.97 and a debt-to-equity ratio of 0.46.

N-able (NYSE:NABL) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.04. The firm had revenue of $119.40 million for the quarter, compared to analyst estimates of $116.83 million. N-able had a net margin of 7.19% and a return on equity of 5.67%. The business’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.03 earnings per share. As a group, sell-side analysts predict that N-able, Inc. will post 0.27 EPS for the current fiscal year.

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.