Charles Schwab Investment Management Inc. Decreases Stock Holdings in N-able, Inc. (NYSE:NABL)

Charles Schwab Investment Management Inc. lowered its stake in shares of N-able, Inc. (NYSE:NABL) by 0.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 603,860 shares of the company’s stock after selling 4,217 shares during the period. Charles Schwab Investment Management Inc. owned about 0.33% of N-able worth $5,640,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also made changes to their positions in NABL. State Street Corp raised its position in shares of N-able by 2.4% in the third quarter. State Street Corp now owns 3,164,709 shares of the company’s stock valued at $41,331,000 after buying an additional 75,003 shares during the last quarter. Geode Capital Management LLC raised its holdings in N-able by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,597,651 shares of the company’s stock valued at $20,870,000 after acquiring an additional 15,145 shares during the last quarter. Scalar Gauge Management LLC raised its holdings in N-able by 40.0% in the 3rd quarter. Scalar Gauge Management LLC now owns 978,663 shares of the company’s stock valued at $12,781,000 after acquiring an additional 279,387 shares during the last quarter. Applied Fundamental Research LLC lifted its stake in N-able by 438.6% in the 3rd quarter. Applied Fundamental Research LLC now owns 815,634 shares of the company’s stock worth $10,652,000 after purchasing an additional 664,198 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of N-able by 3.5% during the 4th quarter. Bank of New York Mellon Corp now owns 487,320 shares of the company’s stock worth $4,552,000 after purchasing an additional 16,253 shares during the last quarter. Institutional investors and hedge funds own 96.35% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on NABL. Royal Bank of Canada reduced their price objective on N-able from $12.00 to $10.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 4th. Needham & Company LLC reiterated a “buy” rating and set a $10.00 price target on shares of N-able in a report on Friday, March 14th. BMO Capital Markets reissued 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, March 4th. William Blair reaffirmed an “outperform” rating on shares of N-able in a research note on Friday, March 14th. Finally, Scotiabank increased their price target on shares of N-able from $8.75 to $9.00 and gave the company a “sector perform” rating in a research note on Friday, March 14th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, N-able presently has an average rating of “Moderate Buy” and a consensus price target of $9.38.

N-able Trading Down 3.2 %

Shares of NABL stock opened at $7.29 on Wednesday. N-able, Inc. has a 1-year low of $6.75 and a 1-year high of $15.49. The firm has a market cap of $1.38 billion, a PE ratio of 36.45 and a beta of 0.41. The company has a 50-day moving average of $9.00 and a two-hundred day moving average of $10.45. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.01 and a quick ratio of 3.01.

N-able declared that its board has approved a share repurchase program on Wednesday, March 12th that permits the company to buyback $75.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 5.7% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

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.