West Tower Group LLC Reduces Stock Position in N-able, Inc. (NYSE:NABL)

West Tower Group LLC lessened its position in shares of N-able, Inc. (NYSE:NABL) by 11.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 23,000 shares of the company’s stock after selling 3,000 shares during the quarter. West Tower Group LLC’s holdings in N-able were worth $300,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Mackenzie Financial Corp boosted its stake in shares of N-able by 2.2% in the second quarter. Mackenzie Financial Corp now owns 40,497 shares of the company’s stock worth $617,000 after buying an additional 866 shares during the last quarter. Louisiana State Employees Retirement System boosted its stake in shares of N-able by 2.6% in the second quarter. Louisiana State Employees Retirement System now owns 35,300 shares of the company’s stock worth $538,000 after buying an additional 900 shares during the last quarter. ProShare Advisors LLC boosted its stake in shares of N-able by 7.4% in the first quarter. ProShare Advisors LLC now owns 14,094 shares of the company’s stock worth $184,000 after buying an additional 971 shares during the last quarter. Rhumbline Advisers boosted its stake in shares of N-able by 0.8% in the second quarter. Rhumbline Advisers now owns 203,826 shares of the company’s stock worth $3,104,000 after buying an additional 1,668 shares during the last quarter. Finally, Summit Securities Group LLC purchased a new stake in shares of N-able in the second quarter worth about $30,000. Hedge funds and other institutional investors own 96.35% of the company’s stock.

Insider Buying and Selling at N-able

In other N-able news, EVP Peter C. Anastos sold 16,000 shares of the stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $13.04, for a total transaction of $208,640.00. Following the completion of the transaction, the executive vice president now owns 322,774 shares of the company’s stock, valued at $4,208,972.96. This represents a 4.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.43% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Needham & Company LLC restated a “buy” rating and issued a $16.50 target price on shares of N-able in a research note on Friday. BMO Capital Markets reduced their price target on N-able from $14.00 to $13.50 and set a “market perform” rating for the company in a report on Friday, November 8th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $15.00 price target on shares of N-able in a report on Thursday, November 21st.

N-able Stock Performance

NYSE NABL opened at $10.31 on Tuesday. The stock has a market capitalization of $1.92 billion, a price-to-earnings ratio of 51.55 and a beta of 0.47. N-able, Inc. has a twelve month low of $9.98 and a twelve month high of $15.48. The company has a current ratio of 3.01, a quick ratio of 3.01 and a debt-to-equity ratio of 0.43. The stock has a 50-day moving average of $12.12 and a 200 day moving average of $13.05.

N-able (NYSE:NABL) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.03. N-able had a return on equity of 6.31% and a net margin of 8.08%. The company had revenue of $116.40 million during the quarter, compared to analysts’ expectations of $114.75 million. During the same quarter in the prior year, the firm posted $0.03 EPS. N-able’s quarterly revenue was up 8.2% compared to the same quarter last year. Sell-side analysts anticipate that N-able, Inc. will post 0.28 EPS for the current fiscal year.

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.