N-able, Inc. (NYSE:NABL) has reported that EVP, Chief People Officer Kathleen Pai has sold a number of company shares on June 27, according to a recent SEC filing. The transaction involved a total of 13,390 shares of common stock at an average price of $15.02, amounting to over $200,000 in total value.
The sales were conducted under a prearranged 10b5-1 trading plan, a tool that allows insiders to set up a predetermined plan to sell company stocks at a time when they are not in possession of material non-public information. This plan was adopted by Pai on November 22, 2023.
Investors may find it significant that the shares were sold at prices ranging from $15.00 to $15.04, which represents a weighted average price as disclosed in the SEC filing. Following the sale, Pai continues to hold 538,194 shares of N-able stock, indicating a continued investment in the company's future.
N-able, Inc. specializes in providing cloud-based software solutions and is recognized within the prepackaged software services industry. The company has been publicly traded and has undergone name changes from N-able, LLC and SWI Spinco, LLC in recent years.
The transaction details provide transparency to shareholders and potential investors regarding the trading activities of the company's executives. It also demonstrates the ongoing alignment of the interests between N-able's management and its shareholders.
In other recent news, N-Able Inc. has been making significant strides in its financial performance and strategic developments. The company reported strong financial results for the first quarter, with revenue reaching $113.7 million, marking a 14% increase year-over-year. The company's adjusted EBITDA stood at $39.6 million and it raised its full-year revenue guidance to $462 to $465 million, indicating a 10% year-over-year growth.
Moreover, rumors have been circulating about N-Able initiating a sales process that has attracted interest from software companies and private equity firms alike, with Barracuda Networks, under the ownership of KKR, being one of the interested parties. However, these rumors remain unconfirmed by N-Able itself.
RBC Capital maintained its positive stance on N-Able, reiterating an Outperform rating amid these developments. These are recent developments that have caught the attention of investors, reflecting a heightened interest in the potential strategic developments at N-Able.
InvestingPro Insights
As N-able, Inc. (NYSE:NABL) navigates the dynamic prepackaged software services market, recent financial data and analyst behavior provide a snapshot of the company's current performance and future prospects. With a robust gross profit margin of 84.29% in the last twelve months as of Q1 2024, N-able stands out for its ability to retain a significant portion of its revenue after accounting for the cost of goods sold, underscoring efficient operations and a potentially competitive product offering.
InvestingPro Tips highlight that analysts are optimistic about N-able's earnings trajectory, with two analysts having revised their earnings upwards for the upcoming period. Additionally, the company is expected to see net income growth this year, which can be an encouraging sign for investors looking for companies with an upward earnings trend.
From a valuation perspective, N-able's market capitalization stands at $2.81 billion, and it is trading at a high P/E ratio of 101.16, suggesting that investors may currently have high expectations for the company's future earnings potential. Moreover, the stock is trading near its 52-week high, at 97.29% of this level, reflecting a strong market sentiment over the recent period. The company's performance has also been reflected in its stock returns, with a 1 month price total return of 14.08% as of mid-2024.
For those interested in delving deeper into N-able's financial health and future prospects, there are additional InvestingPro Tips available at https://www.investing.com/pro/NABL. Readers can use the coupon code PRONEWS24 to get up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription. With 17 additional tips listed in InvestingPro, investors have access to a comprehensive suite of insights to inform their investment decisions.
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