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

Geode Capital Management LLC raised its position in N-able, Inc. (NYSE:NABL) by 1.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,597,651 shares of the company’s stock after purchasing an additional 15,145 shares during the quarter. Geode Capital Management LLC owned 0.86% of N-able worth $20,870,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Barclays PLC raised its stake in shares of N-able by 398.2% in the 3rd quarter. Barclays PLC now owns 143,095 shares of the company’s stock valued at $1,869,000 after acquiring an additional 114,374 shares during the period. State Street Corp increased its holdings in N-able by 2.4% in the 3rd quarter. State Street Corp now owns 3,164,709 shares of the company’s stock valued at $41,331,000 after purchasing an additional 75,003 shares in the last quarter. Janus Henderson Group PLC increased its holdings in N-able by 2.7% in the 3rd quarter. Janus Henderson Group PLC now owns 253,481 shares of the company’s stock valued at $3,310,000 after purchasing an additional 6,570 shares in the last quarter. HighTower Advisors LLC raised its position in N-able by 116.2% in the third quarter. HighTower Advisors LLC now owns 30,644 shares of the company’s stock valued at $406,000 after purchasing an additional 16,468 shares during the period. Finally, Centiva Capital LP lifted its stake in shares of N-able by 22.0% during the third quarter. Centiva Capital LP now owns 56,819 shares of the company’s stock worth $742,000 after purchasing an additional 10,237 shares in the last quarter. 96.35% of the stock is owned by institutional investors and hedge funds.

N-able Trading Down 2.2 %

Shares of NABL opened at $9.39 on Friday. N-able, Inc. has a one year low of $9.32 and a one year high of $15.48. The stock has a 50-day moving average price of $10.85 and a 200 day moving average price of $12.53. The company has a debt-to-equity ratio of 0.43, a quick ratio of 3.01 and a current ratio of 3.01. The company has a market capitalization of $1.74 billion, a P/E ratio of 46.95 and a beta of 0.38.

N-able (NYSE:NABL) last released its earnings results on Thursday, November 7th. The company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.10 by $0.03. The company had revenue of $116.40 million during the quarter, compared to analysts’ expectations of $114.75 million. N-able had a return on equity of 6.31% and a net margin of 8.08%. The business’s revenue was up 8.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.03 EPS. Sell-side analysts forecast that N-able, Inc. will post 0.27 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently commented on NABL shares. Scotiabank upgraded N-able to a “hold” rating in a report on Friday, December 6th. BMO Capital Markets lowered their price objective on shares of N-able from $14.00 to $13.50 and set a “market perform” rating for the company in a research report on Friday, November 8th. Needham & Company LLC reissued a “buy” rating and set a $16.50 target price on shares of N-able in a research report on Friday, November 22nd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $15.00 price target on shares of N-able in a report on Thursday, November 21st.

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.