Renaissance Technologies LLC Raises Holdings in N-able, Inc. (NYSE:NABL)

Renaissance Technologies LLC grew its holdings in N-able, Inc. (NYSE:NABL) by 4.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 599,400 shares of the company’s stock after purchasing an additional 25,966 shares during the period. Renaissance Technologies LLC owned about 0.32% of N-able worth $9,129,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Dimensional Fund Advisors LP raised 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 buying an additional 371,013 shares during the last quarter. WINTON GROUP Ltd raised its holdings in shares of N-able by 5.8% during the second quarter. WINTON GROUP Ltd now owns 72,036 shares of the company’s stock valued at $1,097,000 after purchasing an additional 3,980 shares during 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 purchasing an additional 3,094 shares during the period. Victory Capital Management Inc. lifted its position in N-able by 19.9% during the second quarter. Victory Capital Management Inc. now owns 48,497 shares of the company’s stock valued at $739,000 after purchasing an additional 8,033 shares during the period. Finally, Rhumbline Advisers boosted its holdings in N-able by 0.8% in the second quarter. Rhumbline Advisers now owns 203,826 shares of the company’s stock worth $3,104,000 after purchasing an additional 1,668 shares during the last quarter. Hedge funds and other institutional investors own 96.35% of the company’s stock.

Insider Transactions at N-able

In related news, EVP Frank Colletti sold 3,333 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $15.24, for a total value of $50,794.92. Following the completion of the sale, the executive vice president now directly owns 453,475 shares of the company’s stock, valued at approximately $6,910,959. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Kathleen Pai sold 13,390 shares of the firm’s stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $15.02, for a total transaction of $201,117.80. Following the sale, the executive vice president now directly owns 538,194 shares in the company, valued at approximately $8,083,673.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Frank Colletti sold 3,333 shares of the company’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $15.24, for a total transaction of $50,794.92. Following the completion of the transaction, the executive vice president now directly owns 453,475 shares of the company’s stock, valued at approximately $6,910,959. The disclosure for this sale can be found here. Insiders have sold 216,074 shares of company stock valued at $2,803,153 over the last quarter. 1.43% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Separately, Needham & Company LLC reissued a “buy” rating and set a $16.50 price target on shares of N-able in a report on Friday, August 9th.

N-able Stock Down 0.1 %

Shares of NABL stock opened at $12.90 on Wednesday. The company has a current ratio of 2.97, a quick ratio of 2.97 and a debt-to-equity ratio of 0.46. N-able, Inc. has a 12 month low of $11.50 and a 12 month high of $15.48. The stock has a market cap of $2.38 billion, a P/E ratio of 92.14 and a beta of 0.45. The company has a 50 day simple moving average of $13.10 and a two-hundred day simple moving average of $13.27.

N-able (NYSE:NABL) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.10 by $0.04. The firm had revenue of $119.40 million during the quarter, compared to analyst estimates of $116.83 million. N-able had a return on equity of 5.67% and a net margin of 7.19%. N-able’s revenue was up 12.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.03 EPS. On average, research analysts expect that N-able, Inc. will post 0.27 earnings per share for the current 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.