N-able, Inc. (NYSE:NABL) Short Interest Update

N-able, Inc. (NYSE:NABL) was the recipient of a large decrease in short interest in the month of October. As of October 15th, there was short interest totalling 933,000 shares, a decrease of 15.9% from the September 30th total of 1,110,000 shares. Approximately 1.4% of the company’s shares are sold short. Based on an average trading volume of 453,200 shares, the days-to-cover ratio is currently 2.1 days.

Wall Street Analyst Weigh In

Separately, Needham & Company LLC reaffirmed a “buy” rating and set a $16.50 price objective on shares of N-able in a research report on Friday, August 9th.

N-able Stock Down 0.6 %

Shares of NABL traded down $0.07 during trading hours on Wednesday, hitting $12.44. The stock had a trading volume of 194,534 shares, compared to its average volume of 527,249. N-able has a 1-year low of $11.50 and a 1-year high of $15.48. The firm has a market capitalization of $2.30 billion, a P/E ratio of 73.18 and a beta of 0.45. The firm has a 50 day simple moving average of $12.65 and a 200-day simple moving average of $13.20. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.97 and a quick ratio of 2.97.

N-able (NYSE:NABL) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.04. N-able had a return on equity of 5.67% and a net margin of 7.19%. The firm had revenue of $119.40 million during the quarter, compared to analysts’ expectations of $116.83 million. During the same quarter last year, the firm posted $0.03 earnings per share. The company’s revenue for the quarter was up 12.5% compared to the same quarter last year. Sell-side analysts predict that N-able will post 0.27 EPS for the current fiscal year.

Insider Buying and Selling at N-able

In other news, Director Ann Johnson sold 21,200 shares of the stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $12.79, for a total value of $271,148.00. Following the completion of the sale, the director now owns 48,797 shares of the company’s stock, valued at approximately $624,113.63. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CFO Tim James O’brien sold 11,195 shares of N-able stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $12.84, for a total value of $143,743.80. Following the completion of the transaction, the chief financial officer now directly owns 654,232 shares of the company’s stock, valued at approximately $8,400,338.88. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Ann Johnson sold 21,200 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $12.79, for a total value of $271,148.00. Following the sale, the director now owns 48,797 shares in the company, valued at approximately $624,113.63. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 199,351 shares of company stock worth $2,551,240. 1.43% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Summit Securities Group LLC acquired a new stake in shares of N-able in the 2nd quarter worth about $30,000. GAMMA Investing LLC grew its holdings in N-able by 644.2% during the second quarter. GAMMA Investing LLC now owns 3,654 shares of the company’s stock worth $56,000 after buying an additional 3,163 shares in the last quarter. SageView Advisory Group LLC purchased a new stake in N-able in the 1st quarter valued at $148,000. Summit Global Investments bought a new position in N-able during the 2nd quarter valued at $191,000. Finally, ProShare Advisors LLC boosted its holdings in N-able by 7.4% during the 1st 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 last quarter. 96.35% of the stock is owned by institutional investors.

About N-able

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.