Tim James O’brien Sells 8,820 Shares of N-able, Inc. (NYSE:NABL) Stock

Posted by on Mar 2nd, 2023

N-able, Inc. (NYSE:NABL – Get Rating) CFO Tim James O’brien sold 8,820 shares of the company’s stock in a transaction dated Monday, February 27th. The shares were sold at an average price of $11.78, for a total transaction of $103,899.60. Following the sale, the chief financial officer now directly owns 550,021 shares of the company’s stock, valued at approximately $6,479,247.38. The sale was disclosed in a filing with the SEC, which is available at this link.

N-able Stock Performance

N-able stock opened at $12.03 on Thursday. The firm has a 50 day simple moving average of $10.35 and a 200-day simple moving average of $10.39. N-able, Inc. has a 1-year low of $8.12 and a 1-year high of $12.72. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.42 and a quick ratio of 2.42. The stock has a market cap of $2.17 billion, a price-to-earnings ratio of 133.68 and a beta of 0.49.

Hedge Funds Weigh In On N-able

Several large investors have recently made changes to their positions in NABL. AlpInvest Partners B.V. acquired a new position in shares of N-able in the 4th quarter worth approximately $25,492,000. Legal & General Group Plc lifted its holdings in shares of N-able by 3,929.0% in the 4th quarter. Legal & General Group Plc now owns 2,123,911 shares of the company’s stock worth $21,834,000 after acquiring an additional 2,071,196 shares during the last quarter. UBS Group AG lifted its holdings in shares of N-able by 8,707.2% in the 1st quarter. UBS Group AG now owns 905,207 shares of the company’s stock worth $8,238,000 after acquiring an additional 894,929 shares during the last quarter. Sunriver Management LLC lifted its holdings in shares of N-able by 30.5% in the 3rd quarter. Sunriver Management LLC now owns 3,701,051 shares of the company’s stock worth $34,161,000 after acquiring an additional 865,425 shares during the last quarter. Finally, State Street Corp lifted its holdings in shares of N-able by 93.3% in the 2nd quarter. State Street Corp now owns 1,553,561 shares of the company’s stock worth $13,982,000 after acquiring an additional 749,924 shares during the last quarter. 97.72% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. JPMorgan Chase & Co. cut shares of N-able from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $13.00 to $11.00 in a research note on Tuesday, January 24th. Royal Bank of Canada increased their price target on shares of N-able from $12.00 to $14.00 and gave the company an “outperform” rating in a research note on Friday, November 11th. Finally, Needham & Company LLC increased their price target on shares of N-able from $13.00 to $14.50 and gave the company a “buy” rating in a research note on Friday, February 24th.

N-able Company Profile

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N-able, Inc provides cloud-based software solutions for managed service providers (MSPs) 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. Its software platform is designed to be an enterprise-grade solution that serves as an operating system for its MSP partners and scales as their businesses grow.

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