N-able, Inc. (NYSE:NABL) executive Frank Colletti, the company's Executive Vice President and Chief Revenue Officer, has sold a total of 3,333 shares of the company's common stock on July 1, according to a recent filing with the Securities and Exchange Commission. The shares were sold at a price of $15.24 per share, amounting to a total value of $50,794.
The transaction was executed under a pre-arranged trading plan, known as a Rule 10b5-1 plan, which Colletti had adopted on August 31, 2023. Such plans allow company insiders to sell shares over a predetermined period of time, providing an affirmative defense against accusations of trading on nonpublic information.
Following the sale, Colletti still owns a substantial stake in the company, with 453,475 shares remaining in his possession. This indicates a continued vested interest in the company's performance despite the recent sale.
N-able, Inc., headquartered in Wilmington, Delaware, is a company specializing in prepackaged software services, providing a range of solutions for IT service management. The sale by a high-ranking executive may catch the attention of investors, as insider transactions are often scrutinized for indications of the company's financial health and future prospects.
Investors and stakeholders in N-able, Inc. continue to monitor insider trading activities for insights into the company's internal confidence and strategic decisions.
In other recent news, N-Able Inc. has been in the spotlight due to rumors of a potential sale and robust financial growth. Amidst speculation of a possible sale, the company has reportedly initiated a sales process, attracting interest from software companies and private equity firms, including Barracuda Networks. However, N-Able has not officially confirmed this development.
In parallel, RBC Capital has maintained its positive stance on N-Able, reiterating an Outperform rating. The firm's confidence underscores the company's strong financial performance, which has been highlighted in its recent earnings report.
N-Able's first-quarter revenue reached $113.7 million, marking a 14% increase year-over-year. The company also raised its full-year revenue guidance to $462 to $465 million, indicating a 10% year-over-year growth. Adjusted EBITDA stood at $39.6 million with a margin of 35%.
These recent developments reflect N-Able's strategic growth and potential value, even as investors await official confirmation on the rumored sale.
InvestingPro Insights
As investors digest the news of Executive Vice President and Chief Revenue Officer Frank Colletti's stock sale at N-able, Inc. (NYSE:NABL), it's essential to consider the company's financial health and future prospects. The latest data from InvestingPro shows a solid financial position for N-able, with a substantial gross profit margin of 84.29% over the last twelve months as of Q1 2024, which is an indicator of the company's efficiency in managing its cost of goods sold and its ability to retain profit from sales revenue.
Moreover, the company's revenue growth remains robust, with a 14.47% increase over the last twelve months as of Q1 2024. This growth is consistent with the upward trend observed in quarterly figures, which saw a 13.96% rise in Q1 2024. These metrics suggest that N-able is expanding its market share and increasing its sales, which could be a positive sign for investors looking at the company's growth trajectory.
InvestingPro Tips highlight that N-able is expected to grow its net income this year, and two analysts have revised their earnings upwards for the upcoming period. These revisions could reflect a positive outlook on the company's earnings potential, possibly driven by its strong gross profit margins and revenue growth. However, the company is also trading at a high earnings multiple, with a P/E ratio of 101.16, indicating that its stock price is high relative to its earnings.
For those looking for more in-depth analysis, there are an additional 16 InvestingPro Tips available at InvestingPro, which could provide further guidance on the investment potential of N-able, Inc. Don't forget, you can use the coupon code PRONEWS24 to get up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription, enriching your investment strategy with valuable insights.
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