State Street Corp Purchases 75,003 Shares of N-able, Inc. (NYSE:NABL)

State Street Corp lifted its position in shares of N-able, Inc. (NYSE:NABL) by 2.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,164,709 shares of the company’s stock after acquiring an additional 75,003 shares during the period. State Street Corp owned approximately 1.70% of N-able worth $41,331,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in NABL. Scalar Gauge Management LLC bought a new stake in shares of N-able in the second quarter worth approximately $10,650,000. Applied Fundamental Research LLC boosted its holdings in N-able by 438.6% in the third quarter. Applied Fundamental Research LLC now owns 815,634 shares of the company’s stock worth $10,652,000 after purchasing an additional 664,198 shares during the last quarter. Dimensional Fund Advisors LP grew its position in N-able by 13.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,114,043 shares of the company’s stock worth $47,427,000 after purchasing an additional 371,013 shares during the period. Sea Cliff Partners Management LP raised its stake in N-able by 11.8% during the 2nd quarter. Sea Cliff Partners Management LP now owns 2,146,965 shares of the company’s stock valued at $32,698,000 after buying an additional 226,532 shares during the last quarter. Finally, 272 Capital LP bought a new position in shares of N-able during the 2nd quarter valued at $2,988,000. 96.35% of the stock is currently owned by hedge funds and other institutional investors.

N-able Trading Down 1.2 %

Shares of NYSE:NABL opened at $9.66 on Friday. The stock has a 50 day moving average of $11.15 and a 200 day moving average of $12.70. The company has a market cap of $1.79 billion, a PE ratio of 48.30 and a beta of 0.38. N-able, Inc. has a 12-month low of $9.61 and a 12-month high of $15.48. The company has a current ratio of 3.01, a quick ratio of 3.01 and a debt-to-equity ratio of 0.43.

N-able (NYSE:NABL) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.03. N-able had a net margin of 8.08% and a return on equity of 6.31%. The firm had revenue of $116.40 million during the quarter, compared to analysts’ expectations of $114.75 million. During the same period in the prior year, the company posted $0.03 earnings per share. The company’s revenue for the quarter was up 8.2% compared to the same quarter last year. As a group, equities research analysts expect that N-able, Inc. will post 0.27 EPS for the current year.

Analyst Ratings Changes

A number of research firms recently commented on NABL. Royal Bank of Canada reiterated an “outperform” rating and set a $15.00 price objective on shares of N-able in a research report on Thursday, November 21st. Scotiabank upgraded shares of N-able to a “hold” rating in a research note on Friday, December 6th. Needham & Company LLC reaffirmed a “buy” rating and set a $16.50 target price on shares of N-able in a report on Friday, November 22nd. Finally, BMO Capital Markets dropped their price target 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.

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.