N-able, Inc. (NYSE:NABL) Shares Sold by West Tower Group LLC

West Tower Group LLC lessened its stake in N-able, Inc. (NYSE:NABL) by 11.5% in the 3rd quarter, Holdings Channel.com reports. The firm owned 23,000 shares of the company’s stock after selling 3,000 shares during the period. West Tower Group LLC’s holdings in N-able were worth $300,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in NABL. Summit Securities Group LLC purchased a new position in N-able in the second quarter worth approximately $30,000. GAMMA Investing LLC grew its position in N-able by 644.2% in the second quarter. GAMMA Investing LLC now owns 3,654 shares of the company’s stock worth $56,000 after acquiring an additional 3,163 shares during the period. Entropy Technologies LP purchased a new position in N-able in the third quarter worth approximately $149,000. Aigen Investment Management LP grew its position in N-able by 38.4% in the third quarter. Aigen Investment Management LP now owns 13,915 shares of the company’s stock worth $182,000 after acquiring an additional 3,863 shares during the period. Finally, ProShare Advisors LLC grew its position in 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 acquiring an additional 971 shares during the period. Institutional investors and hedge funds own 96.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on NABL. BMO Capital Markets lowered their price objective on N-able from $14.00 to $13.50 and set a “market perform” rating for the company in a research report on Friday, November 8th. Needham & Company LLC restated a “buy” rating and set a $16.50 price target on shares of N-able in a research report on Friday. Finally, Royal Bank of Canada restated an “outperform” rating and set a $15.00 price target on shares of N-able in a research report on Thursday, November 21st.

N-able Trading Down 0.6 %

NABL opened at $10.31 on Tuesday. N-able, Inc. has a 52 week low of $9.98 and a 52 week high of $15.48. The business has a fifty day simple moving average of $12.12 and a 200-day simple moving average of $13.05. The firm has a market cap of $1.92 billion, a P/E ratio of 51.55 and a beta of 0.47. The company has a quick ratio of 3.01, a current ratio of 3.01 and a debt-to-equity ratio of 0.43.

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

Insider Activity

In other news, EVP Peter C. Anastos sold 16,000 shares of the stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $13.04, for a total value of $208,640.00. Following the sale, the executive vice president now directly owns 322,774 shares in the company, valued at approximately $4,208,972.96. This trade 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 accessible through the SEC website. Insiders own 1.43% of the company’s stock.

N-able 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.