Venturi Wealth Management LLC Lowers Stock Position in N-able, Inc. (NYSE:NABL)

Venturi Wealth Management LLC cut its position in shares of N-able, Inc. (NYSE:NABL) by 86.2% during the 3rd quarter, Holdings Channel reports. The firm owned 6,436 shares of the company’s stock after selling 40,241 shares during the quarter. Venturi Wealth Management LLC’s holdings in N-able were worth $84,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in NABL. Vanguard Group Inc. boosted its stake in shares of N-able by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 8,813,563 shares of the company’s stock worth $115,193,000 after buying an additional 116,293 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in N-able by 13.5% in the second quarter. Dimensional Fund Advisors LP now owns 3,114,043 shares of the company’s stock worth $47,427,000 after purchasing an additional 371,013 shares during the last quarter. Sea Cliff Partners Management LP boosted its position in N-able by 11.8% in the second quarter. Sea Cliff Partners Management LP now owns 2,146,965 shares of the company’s stock worth $32,698,000 after purchasing an additional 226,532 shares during the last quarter. Scalar Gauge Management LLC bought a new stake in shares of N-able during the 2nd quarter worth $10,650,000. Finally, Renaissance Technologies LLC raised its stake in shares of N-able by 4.5% during the 2nd quarter. Renaissance Technologies LLC now owns 599,400 shares of the company’s stock worth $9,129,000 after purchasing an additional 25,966 shares during the period. 96.35% of the stock is owned by institutional investors.

Insider Transactions at N-able

In related news, EVP Peter C. Anastos sold 16,000 shares of the stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $13.04, for a total transaction of $208,640.00. Following the sale, the executive vice president now owns 322,774 shares of the company’s stock, valued at approximately $4,208,972.96. This represents a 4.72 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.43% of the company’s stock.

N-able Stock Down 2.0 %

NABL stock opened at $10.81 on Friday. The company has a market capitalization of $2.01 billion, a price-to-earnings ratio of 54.03 and a beta of 0.47. N-able, Inc. has a fifty-two week low of $10.77 and a fifty-two week high of $15.48. 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 stock has a fifty day moving average of $12.43 and a 200-day moving average of $13.15.

N-able (NYSE:NABL) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.03. N-able had a net margin of 8.08% and a return on equity of 6.31%. The company had revenue of $116.40 million for the quarter, compared to analysts’ expectations of $114.75 million. During the same period in the prior year, the company posted $0.03 EPS. N-able’s revenue was up 8.2% compared to the same quarter last year. As a group, equities research analysts predict that N-able, Inc. will post 0.27 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have commented on NABL. Needham & Company LLC reaffirmed a “buy” rating and issued a $16.50 price objective on shares of N-able in a research report on Monday. BMO Capital Markets decreased their price target on shares of N-able from $14.00 to $13.50 and set a “market perform” rating for the company in a research note on Friday, November 8th.

N-able 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.