EntryPoint Capital LLC Purchases 29,782 Shares of N-able, Inc. (NYSE:NABL)

EntryPoint Capital LLC lifted its holdings in N-able, Inc. (NYSE:NABL) by 179.1% during the 4th quarter, Holdings Channel reports. The fund owned 46,411 shares of the company’s stock after acquiring an additional 29,782 shares during the quarter. EntryPoint Capital LLC’s holdings in N-able were worth $433,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. Blue Trust Inc. raised its position 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 purchasing an additional 1,528 shares during the last quarter. KBC Group NV increased its stake in shares of N-able by 104.7% in the fourth quarter. KBC Group NV now owns 5,490 shares of the company’s stock valued at $51,000 after buying an additional 2,808 shares in the last quarter. Impact Partnership Wealth LLC bought a new position in shares of N-able in the fourth quarter valued at about $104,000. KLP Kapitalforvaltning AS acquired a new position in N-able during the 4th quarter worth about $136,000. Finally, Harbor Capital Advisors Inc. grew its holdings in N-able by 22.3% during the 4th quarter. Harbor Capital Advisors Inc. now owns 15,176 shares of the company’s stock worth $142,000 after acquiring an additional 2,764 shares during the last quarter. 96.35% of the stock is currently owned by institutional investors.

N-able Stock Performance

Shares of N-able stock opened at $7.29 on Wednesday. The firm has a fifty day moving average of $9.00 and a two-hundred day moving average of $10.45. 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 market capitalization of $1.38 billion, a price-to-earnings ratio of 36.45 and a beta of 0.41. 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 has authorized a stock repurchase plan on Wednesday, March 12th that authorizes the company to repurchase $75.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 5.7% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on NABL. William Blair reaffirmed an “outperform” rating on shares of N-able in a research note on Friday, March 14th. Needham & Company LLC reaffirmed a “buy” rating and set a $10.00 price objective on shares of N-able in a report on Friday, March 14th. BMO Capital Markets reissued a “market perform” rating and issued a $8.50 target price (down from $13.50) on shares of N-able in a research note on Tuesday, March 4th. Scotiabank upped their price target 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. Finally, Royal Bank of Canada lowered their price objective on N-able from $12.00 to $10.00 and set an “outperform” rating for the company in a research report on Tuesday, March 4th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, N-able presently has a consensus rating of “Moderate Buy” and a consensus price target of $9.38.

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.