Scalar Gauge Management LLC Lowers Position in N-able, Inc. (NYSE:NABL)

Scalar Gauge Management LLC reduced its stake in N-able, Inc. (NYSE:NABL) by 58.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 411,330 shares of the company’s stock after selling 567,333 shares during the period. N-able makes up approximately 1.8% of Scalar Gauge Management LLC’s portfolio, making the stock its 19th biggest position. Scalar Gauge Management LLC owned about 0.22% of N-able worth $3,842,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of NABL. Norges Bank acquired a new stake in shares of N-able in the fourth quarter valued at $3,450,000. Applied Fundamental Research LLC grew its position in N-able by 32.8% in the 4th quarter. Applied Fundamental Research LLC now owns 1,083,033 shares of the company’s stock valued at $10,116,000 after acquiring an additional 267,399 shares in the last quarter. Edgestream Partners L.P. increased its stake in N-able by 86.5% during the fourth quarter. Edgestream Partners L.P. now owns 417,004 shares of the company’s stock worth $3,895,000 after purchasing an additional 193,387 shares during the period. Vanguard Group Inc. lifted its position in shares of N-able by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 9,330,440 shares of the company’s stock worth $87,146,000 after purchasing an additional 161,725 shares in the last quarter. Finally, Monimus Capital Management LP purchased a new position in shares of N-able in the fourth quarter valued at approximately $1,414,000. Institutional investors and hedge funds own 96.35% of the company’s stock.

N-able Stock Performance

Shares of NABL stock opened at $7.26 on Monday. The company has a market cap of $1.37 billion, a P/E ratio of 36.28 and a beta of 0.41. The firm has a fifty day moving average price of $8.88 and a 200 day moving average price of $10.35. The company has a current ratio of 3.01, a quick ratio of 3.01 and a debt-to-equity ratio of 0.43. N-able, Inc. has a 12 month low of $6.75 and a 12 month high of $15.49.

N-able declared that its board has approved a share repurchase plan on Wednesday, March 12th that allows the company to repurchase $75.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 5.7% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $10.00 target price on shares of N-able in a research note on Friday, March 14th. William Blair reiterated an “outperform” rating on shares of N-able in a research note on Friday, March 14th. Royal Bank of Canada decreased their target price on N-able from $12.00 to $10.00 and set an “outperform” rating for the company in a report on Tuesday, March 4th. BMO Capital Markets restated a “market perform” rating and set a $8.50 price target (down previously from $13.50) on shares of N-able in a report on Tuesday, March 4th. Finally, Scotiabank lifted their price objective on 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 research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, N-able has an average rating of “Moderate Buy” and a consensus target price of $9.38.

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.