Cove Street Capital LLC Reduces Stake in N-able, Inc. (NYSE:NABL)

Cove Street Capital LLC cut its holdings in N-able, Inc. (NYSE:NABL – Get Rating) by 3.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 414,461 shares of the company’s stock after selling 16,165 shares during the quarter. Cove Street Capital LLC owned approximately 0.23% of N-able worth $4,260,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of NABL. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in N-able during the 2nd quarter worth about $28,000. Point72 Hong Kong Ltd boosted its position in shares of N-able by 298.8% during the 1st quarter. Point72 Hong Kong Ltd now owns 3,462 shares of the company’s stock valued at $32,000 after acquiring an additional 2,594 shares during the last quarter. Ensign Peak Advisors Inc purchased a new stake in N-able during the first quarter worth about $59,000. Tower Research Capital LLC TRC increased its stake in shares of N-able by 94.8% during the third quarter. Tower Research Capital LLC TRC now owns 6,734 shares of the company’s stock worth $62,000 after buying an additional 3,277 shares during the period. Finally, Y.D. More Investments Ltd acquired a new position in N-able in the fourth quarter valued at approximately $63,000. Institutional investors own 97.72% of the company’s stock.

Analysts Set New Price Targets

NABL has been the subject of a number of research analyst reports. Needham & Company LLC raised their price target on N-able from $13.00 to $14.50 and gave the company a “buy” rating in a research report on Friday, February 24th. BMO Capital Markets boosted their price target on shares of N-able from $13.00 to $15.00 in a research report on Thursday, May 11th.

Insider Transactions at N-able

In related news, CFO Tim James O’brien sold 18,786 shares of the company’s stock in a transaction that occurred on Wednesday, March 29th. The shares were sold at an average price of $13.75, for a total value of $258,307.50. Following the transaction, the chief financial officer now directly owns 531,235 shares in the company, valued at $7,304,481.25. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CFO Tim James O’brien sold 18,786 shares of the company’s stock in a transaction that occurred on Wednesday, March 29th. The stock was sold at an average price of $13.75, for a total value of $258,307.50. Following the sale, the chief financial officer now owns 531,235 shares in the company, valued at approximately $7,304,481.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Frank Colletti sold 26,316 shares of N-able stock in a transaction dated Monday, February 27th. The stock was sold at an average price of $11.59, for a total transaction of $305,002.44. Following the completion of the transaction, the vice president now directly owns 385,210 shares of the company’s stock, valued at $4,464,583.90. The disclosure for this sale can be found here. Insiders sold a total of 53,922 shares of company stock worth $667,210 in the last quarter. 0.83% of the stock is currently owned by corporate insiders.

N-able Trading Up 0.9 %

NYSE:NABL traded up $0.13 during trading hours on Friday, hitting $14.26. The stock had a trading volume of 205,312 shares, compared to its average volume of 571,150. N-able, Inc. has a one year low of $8.43 and a one year high of $15.44. The company has a market cap of $2.60 billion, a price-to-earnings ratio of 178.02 and a beta of 0.48. The business’s 50 day moving average is $13.25 and its 200-day moving average is $11.65. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.55 and a current ratio of 2.55.

N-able (NYSE:NABL – Get Rating) last issued its quarterly earnings results on Thursday, February 23rd. The company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.02. The firm had revenue of $95.76 million for the quarter, compared to the consensus estimate of $93.59 million. N-able had a net margin of 3.98% and a return on equity of 4.14%. Sell-side analysts anticipate that N-able, Inc. will post 0.16 EPS for the current fiscal year.

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.