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

Principal Financial Group Inc. lifted its position in N-able, Inc. (NYSE:NABL) by 4.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 381,903 shares of the company’s stock after purchasing an additional 15,154 shares during the quarter. Principal Financial Group Inc. owned 0.21% of N-able worth $3,567,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Blue Trust Inc. boosted its holdings in N-able by 95.5% during the 4th quarter. Blue Trust Inc. now owns 3,128 shares of the company’s stock valued at $29,000 after acquiring an additional 1,528 shares during the period. KBC Group NV lifted its holdings in N-able by 104.7% in the 4th quarter. KBC Group NV now owns 5,490 shares of the company’s stock worth $51,000 after buying an additional 2,808 shares during the period. Impact Partnership Wealth LLC purchased a new stake in N-able in the 4th quarter worth approximately $104,000. Harbor Capital Advisors Inc. lifted its holdings in N-able by 22.3% in the 4th quarter. Harbor Capital Advisors Inc. now owns 15,176 shares of the company’s stock worth $142,000 after buying an additional 2,764 shares during the period. Finally, Verition Fund Management LLC purchased a new stake in N-able in the 3rd quarter worth approximately $146,000. 96.35% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NABL has been the subject of several research analyst reports. Scotiabank dropped their price objective on N-able from $11.00 to $8.75 and set a “sector perform” rating for the company in a report on Tuesday. Needham & Company LLC dropped their price objective on N-able from $16.50 to $10.00 and set a “buy” rating for the company in a report on Monday. BMO Capital Markets reiterated a “market perform” rating and issued a $8.50 price objective (down previously from $13.50) on shares of N-able in a report on Tuesday. Finally, Royal Bank of Canada dropped their price objective on N-able from $12.00 to $10.00 and set an “outperform” rating for the company in a report on Tuesday.

N-able Stock Up 0.3 %

Shares of NYSE:NABL opened at $7.23 on Wednesday. N-able, Inc. has a 52-week low of $6.75 and a 52-week high of $15.48. The firm has a market capitalization of $1.34 billion, a P/E ratio of 36.13 and a beta of 0.42. The stock has a 50 day moving average price of $9.57 and a 200-day moving average price of $11.01. The company has a debt-to-equity ratio of 0.43, a quick ratio of 3.01 and a current ratio of 3.01.

N-able 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.