Verition Fund Management LLC Invests $146,000 in N-able, Inc. (NYSE:NABL)

Verition Fund Management LLC acquired a new stake in shares of N-able, Inc. (NYSE:NABL) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 11,200 shares of the company’s stock, valued at approximately $146,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NABL. Summit Securities Group LLC purchased a new position in shares of N-able in the 2nd quarter worth $30,000. Entropy Technologies LP bought a new position in N-able in the third quarter valued at about $149,000. Summit Global Investments purchased a new position in N-able in the second quarter worth about $191,000. Aigen Investment Management LP grew its stake in shares of N-able by 38.4% during the 3rd quarter. Aigen Investment Management LP now owns 13,915 shares of the company’s stock valued at $182,000 after purchasing an additional 3,863 shares during the period. Finally, Intech Investment Management LLC bought a new stake in shares of N-able during the 3rd quarter valued at about $188,000. Hedge funds and other institutional investors own 96.35% of the company’s stock.

N-able Stock Up 0.3 %

Shares of NABL stock opened at $10.15 on Tuesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.01 and a quick ratio of 3.01. N-able, Inc. has a one year low of $9.98 and a one year high of $15.48. The company’s fifty day moving average price is $11.37 and its 200-day moving average price is $12.79. The company has a market capitalization of $1.88 billion, a price-to-earnings ratio of 50.73 and a beta of 0.38.

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

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on NABL shares. BMO Capital Markets lowered their price objective on shares of N-able from $14.00 to $13.50 and set a “market perform” rating on the stock in a research note on Friday, November 8th. Scotiabank upgraded shares of N-able to a “hold” rating in a research report on Friday, December 6th. Needham & Company LLC reissued a “buy” rating and set a $16.50 price objective on shares of N-able in a research report on Friday, November 22nd. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $15.00 price objective on shares of N-able in a research note on Thursday, November 21st.

N-able Company Profile

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.