N-able, Inc. (NYSE:NABL) Shares Purchased by JPMorgan Chase & Co.

JPMorgan Chase & Co. boosted its holdings in shares of N-able, Inc. (NYSE:NABL) by 51.9% during the 4th quarter, HoldingsChannel reports. The firm owned 418,971 shares of the company’s stock after purchasing an additional 143,065 shares during the period. JPMorgan Chase & Co.’s holdings in N-able were worth $3,913,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. HighTower Advisors LLC lifted its holdings in N-able by 116.2% in the third quarter. HighTower Advisors LLC now owns 30,644 shares of the company’s stock valued at $406,000 after acquiring an additional 16,468 shares during the period. Barclays PLC lifted its position in shares of N-able by 398.2% in the third quarter. Barclays PLC now owns 143,095 shares of the company’s stock valued at $1,869,000 after acquiring an additional 114,374 shares in the last quarter. Geode Capital Management LLC boosted its position in N-able by 1.0% during the third quarter. Geode Capital Management LLC now owns 1,597,651 shares of the company’s stock worth $20,870,000 after acquiring an additional 15,145 shares during the last quarter. 272 Capital LP increased its stake in N-able by 13.0% in the third quarter. 272 Capital LP now owns 221,663 shares of the company’s stock valued at $2,895,000 after purchasing an additional 25,454 shares during the last quarter. Finally, Harbor Capital Advisors Inc. increased its position in N-able by 22.3% during the fourth quarter. Harbor Capital Advisors Inc. now owns 15,176 shares of the company’s stock worth $142,000 after purchasing an additional 2,764 shares during the last quarter. 96.35% of the stock is currently owned by institutional investors and hedge funds.

N-able Stock Down 1.8 %

NABL stock opened at $6.33 on Monday. The firm has a market cap of $1.20 billion, a price-to-earnings ratio of 31.63 and a beta of 0.57. N-able, Inc. has a 1-year low of $6.21 and a 1-year high of $15.49. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.01 and a quick ratio of 3.01. The firm has a fifty day moving average price of $7.87 and a two-hundred day moving average price of $9.64.

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

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on NABL. Royal Bank of Canada lowered 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. BMO Capital Markets restated 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 company a “sector perform” rating in a research report on Friday, March 14th. Needham & Company LLC reiterated a “buy” rating and set a $10.00 target price on shares of N-able in a research note on Friday, March 14th. Finally, William Blair reissued an “outperform” rating on shares of N-able in a report on Friday, March 14th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, N-able presently has an average rating of “Moderate Buy” and an average target price of $9.38.

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.