N-able EVP sells over $280k in company stock

N-able, Inc.'s (NYSE:NABL) Executive Vice President and Chief Financial Officer, Tim James O'Brien, has sold a total of 22,148 shares of company stock across two separate transactions on August 14 and 15, for a total amount exceeding $280,000. The sales were made at an average price range between $12.80 and $12.82 per share.

On August 14, O'Brien sold 7,508 shares at an average price of $12.80, and on the following day, he sold 14,640 shares at a slightly higher average of $12.82. These transactions were part of a series of multiple trades within the price ranges of $12.80 to $12.84 and $12.80 to $12.89, respectively.

Following these transactions, O'Brien's direct holdings in N-able, Inc. have decreased to 565,222 shares. The sales represent a significant divestment for the executive, though he maintains a substantial stake in the company.

N-able, Inc., specializes in providing cloud-based software services and is known for its focus on helping IT service providers scale their businesses. The company, headquartered in Wilmington, Delaware, has been publicly traded and continues to be a notable player in the prepackaged software industry.

Investors and followers of N-able, Inc. often monitor insider transactions such as these for insights into executive sentiment and potential future company performance. However, it is important to note that insider sales can occur for various reasons and may not necessarily indicate a negative outlook on the company's future.

The details of the stock sales were made public through a Form 4 filing with the Securities and Exchange Commission, dated August 16, 2024.

In other recent news, N-able, Inc. announced new vendor partnerships within its Technology Alliance Program (TAP), aiming to enhance its open MSP ecoverse. The latest additions to the N-able TAP include integrations with Cove and N-central products, alongside advanced cybersecurity features and a unified management platform. The company's commitment to the MSP ecoverse was emphasized by David Weeks, VP of Partner Experience at N-able.

In financial developments, N-able reported a solid performance in the second quarter of 2024, with revenues reaching $119.4 million, marking a 13% year-over-year growth. This success was largely driven by their security solutions and data protection offerings, with long-term contracts now accounting for 40% of the company's revenue. The company also projected continued growth in its third quarter and full-year guidance.

Subscription revenue saw a 14% YoY increase to $117.4 million. Despite challenges in net dollar retention rate due to changes in pricing, packaging, and contract rationalization, bookings increased by 20% YoY, driven by new customer acquisition and sales of new products. Looking ahead, N-able plans to continue enhancing its IT management platform and expand its security offerings.

InvestingPro Insights

The recent insider transactions by N-able, Inc.'s (NYSE:NABL) Executive Vice President and Chief Financial Officer, Tim James O'Brien, have coincided with some intriguing financial metrics and market perceptions of the company's stock. According to InvestingPro data, N-able, Inc. is currently trading at a high earnings multiple with a P/E ratio of 74.28, which adjusts to 69.39 on a last twelve months basis as of Q2 2024. Despite this high multiple, the company boasts impressive gross profit margins of 84.28% for the same period, highlighting its ability to maintain profitability amid revenue growth of 13.66%.

Moreover, InvestingPro Tips suggest that N-able's net income is expected to grow this year, providing a positive outlook for investors considering the company's future earnings potential. This expectation aligns with the company's solid gross profit margins, which are indicative of strong underlying business performance. Additionally, the relative strength index (RSI) indicates that the stock is in oversold territory, suggesting that the stock may be undervalued by the market and could present a buying opportunity for investors seeking to capitalize on potential price corrections.

For those looking to delve deeper into the company's financials and stock performance, InvestingPro offers more detailed analysis and additional tips. There are currently 11 more InvestingPro Tips available for N-able, Inc., which can be accessed through the dedicated InvestingPro page for N-able at https://www.investing.com/pro/NABL. These tips provide valuable insights for investors aiming to make informed decisions based on comprehensive data and expert analysis.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.