Fmr LLC Has $1.45 Million Stake in N-able, Inc. (NYSE:NABL)

Fmr LLC increased its holdings in shares of N-able, Inc. (NYSE:NABL) by 46.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 110,698 shares of the company’s stock after purchasing an additional 35,021 shares during the quarter. Fmr LLC owned approximately 0.06% of N-able worth $1,446,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Mackenzie Financial Corp boosted its holdings in N-able by 2.2% during the second quarter. Mackenzie Financial Corp now owns 40,497 shares of the company’s stock worth $617,000 after purchasing an additional 866 shares during the last quarter. Louisiana State Employees Retirement System raised its position in N-able by 2.6% during the second 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 in the last quarter. Rhumbline Advisers raised its position in N-able by 0.8% during the second quarter. Rhumbline Advisers now owns 203,826 shares of the company’s stock worth $3,104,000 after acquiring an additional 1,668 shares in the last quarter. Summit Securities Group LLC bought a new stake in N-able during the second quarter worth $30,000. Finally, Arizona State Retirement System raised 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 worth $315,000 after acquiring an additional 3,094 shares in the last quarter. Institutional investors and hedge funds own 96.35% of the company’s stock.

Wall Street Analyst Weigh In

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

N-able Stock Down 2.5 %

Shares of NYSE NABL opened at $10.11 on Monday. The company has a 50 day simple moving average of $11.42 and a 200 day simple moving average of $12.81. The firm has a market cap of $1.88 billion, a PE ratio of 50.55 and a beta of 0.38. N-able, Inc. has a 1 year low of $9.98 and a 1 year high of $15.48. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.01 and a quick ratio of 3.01.

N-able (NYSE:NABL) last issued its quarterly earnings data 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. N-able had a net margin of 8.08% and a return on equity of 6.31%. The business had revenue of $116.40 million during the quarter, compared to analyst estimates of $114.75 million. During the same quarter last year, the business earned $0.03 EPS. The firm’s quarterly revenue was up 8.2% on a year-over-year basis. On average, research analysts forecast that N-able, Inc. will post 0.27 EPS 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.