Y Intercept Hong Kong Ltd Sells 19,190 Shares of N-able, Inc. (NYSE:NABL)

Y Intercept Hong Kong Ltd decreased its stake in N-able, Inc. (NYSE:NABL) by 26.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 53,733 shares of the company’s stock after selling 19,190 shares during the period. Y Intercept Hong Kong Ltd’s holdings in N-able were worth $702,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. State Street Corp increased its stake in shares of N-able by 2.4% during the 3rd quarter. State Street Corp now owns 3,164,709 shares of the company’s stock worth $41,331,000 after purchasing an additional 75,003 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in N-able by 13.5% during the second quarter. Dimensional Fund Advisors LP now owns 3,114,043 shares of the company’s stock valued at $47,427,000 after purchasing an additional 371,013 shares during the period. Sea Cliff Partners Management LP increased its position in N-able by 11.8% in the second quarter. Sea Cliff Partners Management LP now owns 2,146,965 shares of the company’s stock worth $32,698,000 after buying an additional 226,532 shares during the last quarter. Scalar Gauge Management LLC raised its stake in shares of N-able by 40.0% in the third quarter. Scalar Gauge Management LLC now owns 978,663 shares of the company’s stock valued at $12,781,000 after buying an additional 279,387 shares during the period. Finally, Applied Fundamental Research LLC lifted its position in shares of N-able by 438.6% during the 3rd quarter. Applied Fundamental Research LLC now owns 815,634 shares of the company’s stock valued at $10,652,000 after buying an additional 664,198 shares during the last quarter. 96.35% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on NABL shares. Scotiabank upgraded N-able to a “hold” rating in a research note on Friday, December 6th. Royal Bank of Canada reissued an “outperform” rating and issued a $15.00 price target on shares of N-able in a research report on Thursday, November 21st. BMO Capital Markets cut 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 report on Friday, November 8th. Finally, Needham & Company LLC reissued a “buy” rating and set a $16.50 target price on shares of N-able in a report on Friday, November 22nd.

N-able Stock Down 2.5 %

Shares of NYSE NABL opened at $10.11 on Friday. The business has a 50-day simple moving average of $11.42 and a two-hundred day simple moving average of $12.82. N-able, Inc. has a 52 week low of $9.98 and a 52 week high of $15.48. The company has a market cap of $1.88 billion, a P/E ratio of 50.55 and a beta of 0.38. The company has a quick ratio of 3.01, a current ratio of 3.01 and a debt-to-equity ratio of 0.43.

N-able (NYSE:NABL) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.10 by $0.03. N-able had a net margin of 8.08% and a return on equity of 6.31%. The company had revenue of $116.40 million during the quarter, compared to analysts’ expectations of $114.75 million. During the same quarter in the previous year, the company earned $0.03 earnings per share. N-able’s revenue for the quarter was up 8.2% on a year-over-year basis. Research analysts anticipate that N-able, Inc. will post 0.27 earnings per share for the current fiscal 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.