Barclays PLC Acquires 114,374 Shares of N-able, Inc. (NYSE:NABL)

Barclays PLC raised its stake in shares of N-able, Inc. (NYSE:NABL) by 398.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 143,095 shares of the company’s stock after purchasing an additional 114,374 shares during the period. Barclays PLC’s holdings in N-able were worth $1,869,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Verition Fund Management LLC acquired a new stake in shares of N-able in the third quarter valued at about $146,000. Entropy Technologies LP acquired a new stake in N-able during the 3rd quarter valued at approximately $149,000. Aigen Investment Management LP raised its holdings in N-able by 38.4% during the 3rd quarter. Aigen Investment Management LP now owns 13,915 shares of the company’s stock worth $182,000 after purchasing an additional 3,863 shares during the last quarter. Intech Investment Management LLC acquired a new position in shares of N-able in the 3rd quarter worth approximately $188,000. Finally, Handelsbanken Fonder AB bought a new stake in shares of N-able in the 3rd quarter valued at $221,000. 96.35% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

N-able Trading Down 0.5 %

NABL opened at $9.60 on Friday. The company has a market cap of $1.78 billion, a P/E ratio of 48.00 and a beta of 0.38. The company has a fifty day moving average price of $10.92 and a two-hundred day moving average price of $12.58. 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, Inc. has a 1-year low of $9.47 and a 1-year high of $15.48.

N-able (NYSE:NABL) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.13 earnings per share for the quarter, topping 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 the consensus estimate of $114.75 million. During the same period in the prior year, the business earned $0.03 EPS. The firm’s revenue for the quarter was up 8.2% on a year-over-year basis. Analysts predict that N-able, Inc. will post 0.27 EPS 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.