Principal Financial Group Inc. Increases Stock Holdings in N-able, Inc. (NYSE:NABL)

Principal Financial Group Inc. increased its holdings in N-able, Inc. (NYSE:NABL) by 5.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 396,039 shares of the company’s stock after acquiring an additional 18,980 shares during the quarter. Principal Financial Group Inc. owned about 0.21% of N-able worth $5,176,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in N-able by 3.4% in the fourth quarter. Vanguard Group Inc. now owns 8,697,270 shares of the company’s stock worth $115,239,000 after acquiring an additional 284,112 shares during the period. Sunriver Management LLC lifted its position in N-able by 28.7% during 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 during the period. Dimensional Fund Advisors LP lifted its position in N-able by 6.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,476,547 shares of the company’s stock valued at $32,814,000 after buying an additional 144,098 shares during the period. Sea Cliff Partners Management LP purchased a new position in N-able during the fourth quarter valued at $16,940,000. Finally, Norges Bank purchased a new position in N-able during the fourth quarter valued at $8,402,000. Hedge funds and other institutional investors own 96.35% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insider Activity

In related news, EVP Kathleen Pai sold 4,709 shares of N-able stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $15.04, for a total value of $70,823.36. Following the completion of the sale, the executive vice president now directly owns 551,884 shares in the company, valued at approximately $8,300,335.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, 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 completion of the sale, the executive vice president now directly owns 453,475 shares in the company, valued at approximately $6,910,959. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Kathleen Pai sold 4,709 shares of N-able stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $15.04, for a total value of $70,823.36. Following the completion of the sale, the executive vice president now owns 551,884 shares of the company’s stock, valued at $8,300,335.36. The disclosure for this sale can be found here. Insiders sold 21,432 shares of company stock worth $322,736 over the last three months. 1.43% of the stock is currently owned by corporate insiders.

N-able Stock Down 0.9 %

Shares of NYSE:NABL traded down $0.13 on Friday, hitting $14.73. 74,020 shares of the company traded hands, compared to its average volume of 563,867. N-able, Inc. has a 52 week low of $11.50 and a 52 week high of $15.48. 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 stock has a 50 day simple moving average of $13.55 and a 200-day simple moving average of $13.23. The company has a market cap of $2.72 billion, a PE ratio of 106.14 and a beta of 0.47.

N-able (NYSE:NABL) last issued 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). N-able had a net margin of 6.27% and a return on equity of 4.38%. The company had revenue of $113.75 million for the quarter, compared to the consensus estimate of $111.42 million. As a group, research analysts expect that N-able, Inc. will post 0.24 earnings per share for the current year.

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.