Principal Financial Group Inc. Decreases Position in N-able, Inc. (NYSE:NABL)

Principal Financial Group Inc. reduced its stake in N-able, Inc. (NYSE:NABL) by 5.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 366,749 shares of the company’s stock after selling 21,214 shares during the period. Principal Financial Group Inc. owned 0.20% of N-able worth $4,790,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Jacobs Levy Equity Management Inc. acquired a new stake in N-able in the first quarter valued at $986,000. Stanley Laman Group Ltd. grew 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 valued at $3,235,000 after buying an additional 43,454 shares during the last quarter. Janus Henderson Group PLC increased its holdings in shares of N-able by 1,041.3% during the first quarter. Janus Henderson Group PLC now owns 219,311 shares of the company’s stock valued at $2,866,000 after purchasing an additional 200,095 shares during the period. Applied Fundamental Research LLC bought a new stake in shares of N-able during the second quarter valued at about $2,306,000. Finally, Edgestream Partners L.P. lifted its holdings in N-able by 61.4% in the second quarter. Edgestream Partners L.P. now owns 295,145 shares of the company’s stock worth $4,495,000 after purchasing an additional 112,236 shares during the period. Institutional investors and hedge funds own 96.35% of the company’s stock.

N-able Price Performance

Shares of NABL opened at $10.28 on Friday. The company has a quick ratio of 3.01, a current ratio of 3.01 and a debt-to-equity ratio of 0.43. N-able, Inc. has a twelve month low of $9.98 and a twelve month high of $15.48. The stock has a market capitalization of $1.91 billion, a P/E ratio of 51.40 and a beta of 0.47. The company has a 50 day moving average of $12.21 and a 200-day moving average of $13.08.

N-able (NYSE:NABL) last released its earnings results on Thursday, November 7th. The company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.03. The business had revenue of $116.40 million for the quarter, compared to analyst estimates of $114.75 million. N-able had a return on equity of 6.31% and a net margin of 8.08%. N-able’s revenue was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.03 earnings per share. As a group, equities research analysts forecast that N-able, Inc. will post 0.28 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have issued reports on NABL shares. Needham & Company LLC restated a “buy” rating and set a $16.50 target price on shares of N-able in a research report on Monday, November 11th. Royal Bank of Canada restated an “outperform” rating and issued a $15.00 price objective on shares of N-able in a report on Thursday. Finally, BMO Capital Markets lowered their target price on shares of N-able from $14.00 to $13.50 and set a “market perform” rating for the company in a report on Friday, November 8th.

Insider Buying and Selling at N-able

In other N-able news, EVP Peter C. Anastos sold 16,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $13.04, for a total transaction of $208,640.00. Following the completion of the sale, the executive vice president now directly owns 322,774 shares in the company, valued at $4,208,972.96. This trade represents a 4.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate 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.