Principal Financial Group Inc. Sells 21,214 Shares of N-able, Inc. (NYSE:NABL)

Principal Financial Group Inc. lessened its position in shares of N-able, Inc. (NYSE:NABL) by 5.5% in the third quarter, according to its most recent disclosure 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 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Verition Fund Management LLC acquired a new stake in N-able during the 3rd quarter worth about $146,000. Entropy Technologies LP acquired a new stake in N-able during the third quarter worth approximately $149,000. Aigen Investment Management LP increased its holdings in N-able by 38.4% in the third quarter. Aigen Investment Management LP now owns 13,915 shares of the company’s stock worth $182,000 after purchasing an additional 3,863 shares in the last quarter. Intech Investment Management LLC acquired a new position in N-able in the third quarter valued at approximately $188,000. Finally, Handelsbanken Fonder AB bought a new position in shares of N-able during the 3rd quarter worth approximately $221,000. Institutional investors and hedge funds own 96.35% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on NABL shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $15.00 price objective on shares of N-able in a research note on Thursday, November 21st. BMO Capital Markets decreased their price target on shares of N-able from $14.00 to $13.50 and set a “market perform” rating for the company in a research note on Friday, November 8th. Needham & Company LLC reissued a “buy” rating and set a $16.50 price objective on shares of N-able in a research report on Friday, November 22nd. Finally, Scotiabank raised N-able to a “hold” rating in a research report on Friday, December 6th.

N-able Stock Performance

Shares of NABL stock opened at $9.25 on Friday. The company has a current ratio of 3.01, a quick ratio of 3.01 and a debt-to-equity ratio of 0.43. The firm has a fifty day simple moving average of $10.60 and a two-hundred day simple moving average of $12.41. N-able, Inc. has a 12 month low of $9.11 and a 12 month high of $15.48. The firm has a market capitalization of $1.72 billion, a PE ratio of 46.25 and a beta of 0.38.

N-able (NYSE:NABL) last posted its earnings results on Thursday, November 7th. The company reported $0.13 EPS for the quarter, topping the consensus estimate of $0.10 by $0.03. N-able had a net margin of 8.08% and a return on equity of 6.31%. The company had revenue of $116.40 million during the quarter, compared to the consensus estimate of $114.75 million. During the same period in the previous year, the firm posted $0.03 earnings per share. The firm’s revenue for the quarter was up 8.2% on a year-over-year basis. Analysts forecast that N-able, Inc. will post 0.27 EPS 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.