Fmr LLC Raises Stock Holdings in N-able, Inc. (NYSE:NABL)

Fmr LLC lifted its holdings in shares of N-able, Inc. (NYSE:NABL) by 46.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 110,698 shares of the company’s stock after purchasing an additional 35,021 shares during the quarter. Fmr LLC’s holdings in N-able were worth $1,446,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of NABL. Dimensional Fund Advisors LP boosted its stake in N-able by 13.5% in the second quarter. Dimensional Fund Advisors LP now owns 3,114,043 shares of the company’s stock worth $47,427,000 after buying an additional 371,013 shares in the last quarter. Sea Cliff Partners Management LP boosted its stake in shares of N-able by 11.8% during the second quarter. Sea Cliff Partners Management LP now owns 2,146,965 shares of the company’s stock valued at $32,698,000 after purchasing an additional 226,532 shares during the period. Scalar Gauge Management LLC bought a new position in shares of N-able in the second quarter worth approximately $10,650,000. Renaissance Technologies LLC grew its holdings in shares of N-able by 4.5% in the second quarter. Renaissance Technologies LLC now owns 599,400 shares of the company’s stock worth $9,129,000 after purchasing an additional 25,966 shares during the last quarter. Finally, Stanley Laman Group Ltd. grew its holdings in shares of N-able by 52.9% in the third quarter. Stanley Laman Group Ltd. now owns 324,864 shares of the company’s stock worth $4,243,000 after purchasing an additional 112,458 shares during the last quarter. Hedge funds and other institutional investors own 96.35% of the company’s stock.

Wall Street Analyst Weigh In

NABL has been the topic of several recent analyst reports. Royal Bank of Canada restated an “outperform” rating and issued a $15.00 target price on shares of N-able in a report on Thursday, November 21st. Needham & Company LLC restated a “buy” rating and issued a $16.50 target price on shares of N-able in a report on Friday, November 22nd. Scotiabank upgraded shares of N-able to a “hold” rating in a report on Friday, December 6th. Finally, BMO Capital Markets cut their target price on shares of N-able from $14.00 to $13.50 and set a “market perform” rating on the stock in a report on Friday, November 8th.

N-able Price Performance

NABL opened at $10.11 on Monday. The stock has a 50-day moving average price of $11.42 and a 200-day moving average price of $12.81. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.01 and a quick ratio of 3.01. The firm has a market cap of $1.88 billion, a PE ratio of 50.55 and a beta of 0.38. N-able, Inc. has a 1 year low of $9.98 and a 1 year high of $15.48.

N-able (NYSE:NABL) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.03. The business had revenue of $116.40 million during the quarter, compared to the consensus estimate of $114.75 million. N-able had a return on equity of 6.31% and a net margin of 8.08%. The business’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.03 EPS. Sell-side analysts predict that N-able, Inc. will post 0.27 earnings per share for the current fiscal 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.