Victory Capital Management Inc. Boosts Stake in N-able, Inc. (NYSE:NABL)

Victory Capital Management Inc. boosted its stake in shares of N-able, Inc. (NYSE:NABL) by 14.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 55,497 shares of the company’s stock after purchasing an additional 7,000 shares during the period. Victory Capital Management Inc.’s holdings in N-able were worth $725,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of NABL. Mackenzie Financial Corp lifted its position in shares of N-able by 2.2% during the 2nd quarter. Mackenzie Financial Corp now owns 40,497 shares of the company’s stock valued at $617,000 after buying an additional 866 shares in the last quarter. Louisiana State Employees Retirement System raised its stake in N-able by 2.6% during the 2nd quarter. Louisiana State Employees Retirement System now owns 35,300 shares of the company’s stock worth $538,000 after acquiring an additional 900 shares during the period. Rhumbline Advisers lifted its holdings in N-able by 0.8% during the second quarter. Rhumbline Advisers now owns 203,826 shares of the company’s stock valued at $3,104,000 after purchasing an additional 1,668 shares in the last quarter. Summit Securities Group LLC bought a new position in shares of N-able in the second quarter worth approximately $30,000. Finally, Arizona State Retirement System increased its stake in shares of N-able by 17.6% in the second quarter. Arizona State Retirement System now owns 20,689 shares of the company’s stock worth $315,000 after purchasing an additional 3,094 shares in the last quarter. Institutional investors own 96.35% of the company’s stock.

N-able Trading Up 0.3 %

N-able stock opened at $10.28 on Friday. N-able, Inc. has a 1 year low of $9.98 and a 1 year high of $15.48. The firm’s 50 day moving average price is $12.02 and its 200-day moving average price is $13.02. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.01 and a quick ratio of 3.01. The stock has a market cap of $1.91 billion, a P/E ratio of 51.40 and a beta of 0.47.

N-able (NYSE:NABL) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.03. The company had revenue of $116.40 million for the quarter, compared to the consensus estimate of $114.75 million. N-able had a net margin of 8.08% and a return on equity of 6.31%. N-able’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.03 EPS. On average, equities analysts predict that N-able, Inc. will post 0.28 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently weighed in on NABL. BMO Capital Markets lowered their target price 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. Royal Bank of Canada reissued 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 note 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.