N-able, Inc. (NYSE:NABL) Holdings Cut by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System reduced its stake in shares of N-able, Inc. (NYSE:NABL) by 3.7% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 34,000 shares of the company’s stock after selling 1,300 shares during the period. Louisiana State Employees Retirement System’s holdings in N-able were worth $444,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Stanley Laman Group Ltd. grew its stake in shares of N-able by 52.9% in the 3rd quarter. Stanley Laman Group Ltd. now owns 324,864 shares of the company’s stock valued at $4,243,000 after buying an additional 112,458 shares in the last quarter. Exchange Traded Concepts LLC increased its stake in shares of N-able by 169.1% during the 3rd quarter. Exchange Traded Concepts LLC now owns 135,799 shares of the company’s stock worth $1,774,000 after purchasing an additional 85,326 shares during the last quarter. Handelsbanken Fonder AB bought a new position in shares of N-able during the 3rd quarter valued at $221,000. Clearline Capital LP acquired a new stake in shares of N-able in the second quarter worth about $759,000. Finally, Algert Global LLC raised its stake in shares of N-able by 96.7% in the 2nd quarter. Algert Global LLC now owns 92,780 shares of the company’s stock valued at $1,413,000 after acquiring an additional 45,610 shares in the last quarter. 96.35% of the stock is owned by institutional investors and hedge funds.

N-able Trading Up 1.9 %

Shares of NYSE:NABL opened at $12.71 on Thursday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.97 and a current ratio of 2.97. The stock’s 50-day moving average is $12.62 and its 200-day moving average is $13.21. The company has a market cap of $2.36 billion, a P/E ratio of 74.82 and a beta of 0.47. N-able, Inc. has a 52-week low of $11.50 and a 52-week high of $15.48.

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

Analysts Set New Price Targets

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

Insider Transactions at N-able

In related news, CFO Tim James O’brien sold 11,195 shares of the company’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $12.84, for a total transaction of $143,743.80. Following the completion of the transaction, the chief financial officer now directly owns 654,232 shares in the company, valued at $8,400,338.88. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other N-able news, Director Ann Johnson sold 21,200 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $12.79, for a total value of $271,148.00. Following the completion of the transaction, the director now owns 48,797 shares of the company’s stock, valued at $624,113.63. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Tim James O’brien sold 11,195 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $12.84, for a total value of $143,743.80. Following the completion of the sale, the chief financial officer now owns 654,232 shares of the company’s stock, valued at $8,400,338.88. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 199,351 shares of company stock worth $2,551,240. Insiders own 1.43% of the company’s stock.

N-able 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.