The Manufacturers Life Insurance Company Purchases 3,662 Shares of N-able, Inc. (NYSE:NABL)

The Manufacturers Life Insurance Company lifted its position in N-able, Inc. (NYSE:NABL) by 9.5% in the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 42,369 shares of the company’s stock after purchasing an additional 3,662 shares during the period. The Manufacturers Life Insurance Company’s holdings in N-able were worth $645,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NABL. Jacobs Levy Equity Management Inc. purchased a new stake in shares of N-able in the 1st quarter valued at $986,000. Stanley Laman Group Ltd. lifted its position in shares of N-able by 25.7% during the 2nd quarter. Stanley Laman Group Ltd. now owns 212,406 shares of the company’s stock worth $3,235,000 after purchasing an additional 43,454 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in shares of N-able during the first quarter worth $848,000. Janus Henderson Group PLC increased its holdings in shares of N-able by 1,041.3% in the 1st quarter. Janus Henderson Group PLC now owns 219,311 shares of the company’s stock valued at $2,866,000 after acquiring an additional 200,095 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in N-able by 3.4% in the fourth quarter. Vanguard Group Inc. now owns 8,697,270 shares of the company’s stock valued at $115,239,000 after acquiring an additional 284,112 shares during the last quarter. 96.35% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

N-able Stock Performance

N-able stock opened at $12.53 on Wednesday. The company has a current ratio of 2.97, a quick ratio of 2.97 and a debt-to-equity ratio of 0.46. The stock has a market cap of $2.31 billion, a P/E ratio of 89.46 and a beta of 0.45. N-able, Inc. has a 52 week low of $11.50 and a 52 week high of $15.48. The stock has a 50 day moving average of $12.74 and a 200-day moving average of $13.22.

N-able (NYSE:NABL) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.14 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 business had revenue of $119.40 million during the quarter, compared to analyst estimates of $116.83 million. During the same quarter in the prior year, the firm earned $0.03 earnings per share. The company’s quarterly revenue was up 12.5% on a year-over-year basis. On average, analysts expect that N-able, Inc. will post 0.27 EPS for the current fiscal year.

Insider Transactions at N-able

In related news, CEO John Pagliuca sold 150,956 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $12.77, for a total value of $1,927,708.12. Following the completion of the transaction, the chief executive officer now owns 1,465,346 shares of the company’s stock, valued at approximately $18,712,468.42. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Ann Johnson sold 21,200 shares of the company’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 completion of the sale, the director now directly owns 48,797 shares in the company, valued at approximately $624,113.63. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO John Pagliuca sold 150,956 shares of the company’s 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 owns 1,465,346 shares of the company’s stock, valued at approximately $18,712,468.42. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 199,351 shares of company stock valued at $2,551,240 in the last quarter. Insiders own 1.43% of the company’s stock.

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.