Magnetar Financial LLC Has $485,000 Stock Position in N-able, Inc. (NYSE:NABL)

Magnetar Financial LLC raised its position in N-able, Inc. (NYSE:NABL) by 131.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 51,967 shares of the company’s stock after acquiring an additional 29,466 shares during the period. Magnetar Financial LLC’s holdings in N-able were worth $485,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Blue Trust Inc. raised its holdings in N-able by 95.5% in the 4th quarter. Blue Trust Inc. now owns 3,128 shares of the company’s stock valued at $29,000 after acquiring an additional 1,528 shares in the last quarter. KBC Group NV grew its stake in shares of N-able by 104.7% in the 4th quarter. KBC Group NV now owns 5,490 shares of the company’s stock valued at $51,000 after purchasing an additional 2,808 shares during the period. Impact Partnership Wealth LLC bought a new stake in shares of N-able in the 4th quarter valued at approximately $104,000. Harbor Capital Advisors Inc. grew its stake in shares of N-able by 22.3% in the 4th quarter. Harbor Capital Advisors Inc. now owns 15,176 shares of the company’s stock valued at $142,000 after purchasing an additional 2,764 shares during the period. Finally, Verition Fund Management LLC bought a new stake in shares of N-able in the 3rd quarter valued at approximately $146,000. Institutional investors and hedge funds own 96.35% of the company’s stock.

Analyst Upgrades and Downgrades

NABL has been the topic of several analyst reports. Royal Bank of Canada lowered their price objective on N-able from $12.00 to $10.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 4th. Needham & Company LLC reiterated a “buy” rating and issued a $10.00 price objective on shares of N-able in a research note on Friday, March 14th. Scotiabank upped their price objective on N-able from $8.75 to $9.00 and gave the company a “sector perform” rating in a research note on Friday, March 14th. William Blair restated an “outperform” rating on shares of N-able in a research report on Friday, March 14th. Finally, BMO Capital Markets restated a “market perform” rating and set a $8.50 price target (down from $13.50) on shares of N-able in a research report on Tuesday, March 4th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $9.38.

N-able Stock Down 1.5 %

Shares of NABL opened at $7.51 on Friday. The firm has a market capitalization of $1.42 billion, a price-to-earnings ratio of 37.53 and a beta of 0.41. The company has a debt-to-equity ratio of 0.43, a quick ratio of 3.01 and a current ratio of 3.01. The business’s fifty day moving average price is $9.07 and its two-hundred day moving average price is $10.54. N-able, Inc. has a 52 week low of $6.75 and a 52 week high of $15.49.

N-able declared that its Board of Directors has approved a share buyback plan on Wednesday, March 12th that permits the company to repurchase $75.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 5.7% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

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.