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

N-able, Inc. (NYSE:NABL) was the target of a significant drop in short interest in July. As of July 15th, there was short interest totalling 1,420,000 shares, a drop of 20.7% from the June 30th total of 1,790,000 shares. Based on an average trading volume of 652,200 shares, the days-to-cover ratio is currently 2.2 days. Approximately 2.2% of the company’s stock are sold short.

Insiders Place Their Bets

In other N-able news, EVP Frank Colletti sold 3,333 shares of the firm’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $15.24, for a total value of $50,794.92. Following the completion of the sale, the executive vice president now owns 453,475 shares of the company’s stock, valued at $6,910,959. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, EVP Kathleen Pai sold 13,390 shares of N-able stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $15.02, for a total transaction of $201,117.80. Following the completion of the sale, the executive vice president now owns 538,194 shares of the company’s stock, valued at $8,083,673.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Frank Colletti sold 3,333 shares of N-able stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $15.24, for a total value of $50,794.92. Following the sale, the executive vice president now directly owns 453,475 shares of the company’s stock, valued at approximately $6,910,959. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 21,432 shares of company stock valued at $322,736. 1.43% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of NABL. Sea Cliff Partners Management LP purchased a new position in N-able during the fourth quarter valued at approximately $16,940,000. Sunriver Management LLC increased its position in shares of N-able by 28.7% in the fourth quarter. Sunriver Management LLC now owns 2,847,909 shares of the company’s stock valued at $37,735,000 after buying an additional 635,200 shares in the last quarter. Norges Bank purchased a new stake in shares of N-able in the fourth quarter valued at approximately $8,402,000. Vanguard Group Inc. increased its position in shares of N-able by 3.4% in the fourth quarter. Vanguard Group Inc. now owns 8,697,270 shares of the company’s stock valued at $115,239,000 after buying an additional 284,112 shares in the last quarter. Finally, Janus Henderson Group PLC increased its position in shares of N-able by 1,041.3% in the first quarter. Janus Henderson Group PLC now owns 219,311 shares of the company’s stock valued at $2,866,000 after buying an additional 200,095 shares in the last quarter. 96.35% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Needham & Company LLC reaffirmed a “buy” rating and set a $16.50 target price on shares of N-able in a report on Wednesday, May 29th.

N-able Stock Performance

Shares of N-able stock traded up $0.14 on Friday, reaching $14.03. 644,796 shares of the stock were exchanged, compared to its average volume of 624,828. The business has a 50 day moving average price of $14.12 and a two-hundred day moving average price of $13.38. The company has a quick ratio of 3.01, a current ratio of 3.01 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $2.59 billion, a price-to-earnings ratio of 100.21 and a beta of 0.47. N-able has a twelve month low of $11.50 and a twelve month high of $15.48.

N-able (NYSE:NABL) last announced its quarterly earnings results on Thursday, May 9th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.02). The company had revenue of $113.75 million for the quarter, compared to analysts’ expectations of $111.42 million. N-able had a net margin of 6.27% and a return on equity of 4.38%. Analysts anticipate that N-able will post 0.24 earnings per share for the current fiscal year.

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.