N-able, Inc. (NYSE:NABL) Stock Position Increased by Crescent Park Management L.P.

Crescent Park Management L.P. increased its holdings in N-able, Inc. (NYSE:NABL) by 32.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 947,984 shares of the company’s stock after buying an additional 229,943 shares during the period. N-able accounts for 3.4% of Crescent Park Management L.P.’s investment portfolio, making the stock its 10th biggest position. Crescent Park Management L.P. owned approximately 0.51% of N-able worth $8,854,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Intech Investment Management LLC purchased a new position in shares of N-able in the third quarter valued at $188,000. FMR LLC boosted its stake in N-able by 46.3% in the 3rd quarter. FMR LLC now owns 110,698 shares of the company’s stock worth $1,446,000 after purchasing an additional 35,021 shares during the period. Quantbot Technologies LP purchased a new position in N-able during the 3rd quarter valued at about $346,000. Verition Fund Management LLC bought a new stake in shares of N-able during the third quarter valued at about $146,000. Finally, Atom Investors LP lifted its holdings in shares of N-able by 59.2% in the third quarter. Atom Investors LP now owns 156,126 shares of the company’s stock worth $2,039,000 after buying an additional 58,087 shares in the last quarter. Institutional investors own 96.35% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on NABL shares. Royal Bank of Canada reduced their price objective on shares of N-able from $12.00 to $10.00 and set an “outperform” rating for the company in a research note on Tuesday, March 4th. Needham & Company LLC reiterated a “buy” rating and issued a $10.00 price objective on shares of N-able in a research report on Friday, March 14th. BMO Capital Markets reissued a “market perform” rating and set a $8.50 price objective (down previously from $13.50) on shares of N-able in a research note on Tuesday, March 4th. Scotiabank upped their target price on N-able from $8.75 to $9.00 and gave the stock a “sector perform” rating in a research note on Friday, March 14th. Finally, William Blair reiterated an “outperform” rating on shares of N-able in a research report on Friday, March 14th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $9.38.

N-able Trading Up 1.6 %

NYSE NABL opened at $7.21 on Wednesday. The company has a quick ratio of 3.01, a current ratio of 3.01 and a debt-to-equity ratio of 0.43. The stock’s 50-day simple moving average is $8.80 and its two-hundred day simple moving average is $10.27. N-able, Inc. has a twelve month low of $6.75 and a twelve month high of $15.49. The company has a market capitalization of $1.36 billion, a price-to-earnings ratio of 36.03 and a beta of 0.41.

N-able announced that its board has authorized a share buyback program on Wednesday, March 12th that permits the company to repurchase $75.00 million in shares. This repurchase authorization permits the company to buy up to 5.7% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

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.