Victory Capital Management Inc. Increases Stake in N-able, Inc. (NYSE:NABL)

Victory Capital Management Inc. increased its position in shares of N-able, Inc. (NYSE:NABL) by 19.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 48,497 shares of the company’s stock after purchasing an additional 8,033 shares during the period. Victory Capital Management Inc.’s holdings in N-able were worth $739,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Sea Cliff Partners Management LP purchased a new position in shares of N-able during the fourth quarter valued at approximately $16,940,000. Sunriver Management LLC boosted its holdings in N-able by 28.7% during the 4th quarter. Sunriver Management LLC now owns 2,847,909 shares of the company’s stock valued at $37,735,000 after acquiring an additional 635,200 shares during the period. Norges Bank bought a new position in N-able in the 4th quarter valued at $8,402,000. Vanguard Group Inc. increased its stake in N-able by 3.4% in the fourth quarter. Vanguard Group Inc. now owns 8,697,270 shares of the company’s stock worth $115,239,000 after purchasing an additional 284,112 shares during the period. Finally, Janus Henderson Group PLC lifted its position 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 worth $2,866,000 after purchasing an additional 200,095 shares during the last quarter. 96.35% of the stock is currently owned by institutional investors.

N-able Stock Down 0.7 %

Shares of NYSE:NABL opened at $12.92 on Friday. The business’s 50 day moving average is $13.17 and its 200 day moving average is $13.27. The stock has a market cap of $2.39 billion, a P/E ratio of 92.29 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 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 posted its quarterly earnings results on Thursday, August 8th. The company reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.04. The business had revenue of $119.40 million for the quarter, compared to the consensus estimate of $116.83 million. N-able had a return on equity of 5.67% and a net margin of 7.19%. During the same quarter in the prior year, the company earned $0.03 EPS. The business’s revenue was up 12.5% compared to the same quarter last year. Sell-side analysts predict that N-able, Inc. will post 0.27 EPS for the current year.

Insider Buying and Selling at N-able

In other news, EVP Frank Colletti sold 3,333 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $15.24, for a total value of $50,794.92. Following the completion of the sale, the executive vice president now owns 453,475 shares of the company’s stock, valued at approximately $6,910,959. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Frank Colletti sold 3,333 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $15.24, for a total value of $50,794.92. Following the completion of the transaction, the executive vice president now directly owns 453,475 shares of the company’s stock, valued at approximately $6,910,959. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Kathleen Pai sold 4,709 shares of the company’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $15.04, for a total value of $70,823.36. Following the sale, the executive vice president now owns 551,884 shares of the company’s stock, valued at $8,300,335.36. The disclosure for this sale can be found here. In the last quarter, insiders have sold 220,783 shares of company stock valued at $2,873,976. Company insiders own 1.43% of the company’s stock.

Analyst Ratings Changes

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

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.