Jane Street Group LLC Reduces Stock Position in N-able, Inc. (NYSE:NABL)

Jane Street Group LLC lessened its holdings in shares of N-able, Inc. (NYSE:NABL) by 51.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 54,277 shares of the company’s stock after selling 56,968 shares during the period. Jane Street Group LLC’s holdings in N-able were worth $709,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Rhumbline Advisers grew its holdings in shares of N-able by 0.8% during the 2nd quarter. Rhumbline Advisers now owns 203,826 shares of the company’s stock worth $3,104,000 after acquiring an additional 1,668 shares during the period. Victory Capital Management Inc. raised its holdings in N-able by 19.9% in the second quarter. Victory Capital Management Inc. now owns 48,497 shares of the company’s stock worth $739,000 after purchasing an additional 8,033 shares in the last quarter. Arizona State Retirement System lifted its position in N-able by 17.6% during the second quarter. Arizona State Retirement System now owns 20,689 shares of the company’s stock valued at $315,000 after buying an additional 3,094 shares during the period. WINTON GROUP Ltd boosted its holdings in shares of N-able by 5.8% during the 2nd quarter. WINTON GROUP Ltd now owns 72,036 shares of the company’s stock valued at $1,097,000 after buying an additional 3,980 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of 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 acquiring an additional 371,013 shares in the last quarter. Institutional investors own 96.35% of the company’s stock.

N-able Trading Up 0.6 %

N-able stock opened at $9.31 on Friday. N-able, Inc. has a 52-week low of $9.11 and a 52-week high of $15.48. The company has a market cap of $1.73 billion, a P/E ratio of 46.55 and a beta of 0.38. The company has a quick ratio of 3.01, a current ratio of 3.01 and a debt-to-equity ratio of 0.43. The business has a 50-day simple moving average of $10.54 and a two-hundred day simple moving average of $12.37.

N-able (NYSE:NABL) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.13 earnings per share 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 firm had revenue of $116.40 million for the quarter, compared to analysts’ expectations of $114.75 million. During the same period in the previous year, the firm earned $0.03 EPS. The business’s quarterly revenue was up 8.2% on a year-over-year basis. Analysts predict that N-able, Inc. will post 0.27 EPS for the current year.

Analysts Set New Price Targets

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

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.