Kathleen Pai, the Executive Vice President and Chief People Officer of N-able, Inc. (NYSE:NABL), has sold a total of $75,323 worth of company stock over two consecutive days, according to a recent SEC filing. The transactions took place on June 24 and 25, with the stock being sold at prices ranging from $15.00 to $15.15 per share.
On June 24, Pai sold 4,709 shares at an average price of $15.04 per share. The following day, an additional 300 shares were sold at a flat rate of $15.00 per share. These sales were conducted under a Rule 10b5-1 trading plan, which Pai had adopted on November 22, 2023. This plan allows corporate insiders to set up a predetermined schedule for buying or selling shares to avoid accusations of insider trading.
The SEC filing revealed that after these sales, Pai still retains a substantial holding of 551,584 shares in N-able, Inc., a company specializing in prepackaged software services. The transactions were executed directly, ensuring that Pai remains a significant shareholder in the company.
The exact number of shares sold at each price point within the given range was not disclosed in the SEC filing. However, Pai has committed to providing full information regarding the number of shares sold at each price upon request by N-able, Inc., its security holders, or the SEC staff.
Investors and market watchers often keep an eye on insider transactions as they can provide insights into a company's financial health and the confidence level of its executives. With N-able's current position in the market, these recent transactions by a top executive will likely be of interest to those following the company's stock performance.
In other recent news, N-Able Inc. has been making headlines with its strong financial performance and potential sale exploration. The company reported a robust growth in its first-quarter earnings, with revenues reaching $113.7 million, marking a 14% increase year-over-year. The adjusted EBITDA stood at $39.6 million, maintaining a margin of 35%. Moreover, N-Able raised its full-year revenue guidance to $462 to $465 million, indicating a 10% year-over-year growth.
In addition to its financial performance, N-Able is also reportedly considering a sale. The company is said to have initiated a sales process that has attracted interest from software companies and private equity firms, including Barracuda Networks, which is under the ownership of KKR. However, N-Able has not officially confirmed the sale process or the interest from potential buyers.
RBC Capital has maintained a positive stance on N-Able, reiterating an Outperform rating for the company. These recent developments reflect a heightened investor interest in N-Able and suggest a continued confidence in the company's value and prospects.
InvestingPro Insights
Amid the news of Kathleen Pai's recent stock sales, a closer look at N-able, Inc. (NYSE:NABL) through InvestingPro reveals a nuanced picture of the company's financial standing. With a market capitalization of $2.74 billion and robust gross profit margins of 84.29% in the last twelve months as of Q1 2024, N-able appears to be in a strong position. The company's revenue has also shown healthy growth, with a 14.47% increase over the last twelve months.
However, investors should note the company's high Price/Earnings (P/E) ratio, which stands at 107.62 when adjusted for the last twelve months as of Q1 2024. This suggests that the stock may be trading at a premium relative to its earnings. Additionally, the Relative Strength Index (RSI) indicates that the stock is currently in overbought territory, which could signal a potential retraction or consolidation in the near future.
Despite these considerations, InvestingPro Tips highlight that NABL's net income is expected to grow this year, and two analysts have revised their earnings upwards for the upcoming period, which may indicate further confidence in the company's financial prospects. For investors seeking deeper insights, there are 13 additional tips available on InvestingPro, which can be accessed with a yearly or biyearly Pro and Pro+ subscription using the coupon code PRONEWS24 for an extra 10% off.
Overall, while Kathleen Pai's insider sales may draw attention, the broader financial metrics and analyst sentiment provided by InvestingPro offer a comprehensive view of N-able's performance and potential trajectory in the software services market.
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