Applied Fundamental Research LLC Has $10.65 Million Position in N-able, Inc. (NYSE:NABL)

Applied Fundamental Research LLC raised its position in N-able, Inc. (NYSE:NABL) by 438.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 815,634 shares of the company’s stock after buying an additional 664,198 shares during the quarter. N-able accounts for 7.0% of Applied Fundamental Research LLC’s holdings, making the stock its 7th biggest holding. Applied Fundamental Research LLC owned 0.44% of N-able worth $10,652,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Russell Investments Group Ltd. bought a new stake in shares of N-able in the first quarter valued at approximately $392,000. ProShare Advisors LLC boosted its stake in shares of N-able by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 14,094 shares of the company’s stock valued at $184,000 after purchasing an additional 971 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of N-able by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 8,813,563 shares of the company’s stock valued at $115,193,000 after purchasing an additional 116,293 shares during the last quarter. Lazard Asset Management LLC increased its position in N-able by 2.0% during the 1st quarter. Lazard Asset Management LLC now owns 575,014 shares of the company’s stock worth $7,514,000 after purchasing an additional 11,351 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in N-able by 14.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 40,372 shares of the company’s stock valued at $528,000 after buying an additional 5,225 shares in the last quarter. Institutional investors own 96.35% of the company’s stock.

Insider Activity

In other N-able news, EVP Peter C. Anastos sold 16,000 shares of the stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $13.04, for a total value of $208,640.00. Following the completion of the sale, the executive vice president now owns 322,774 shares in the company, valued at approximately $4,208,972.96. This trade represents a 4.72 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.43% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on NABL. Royal Bank of Canada reiterated an “outperform” rating and set a $15.00 price target on shares of N-able in a report on Thursday, November 21st. Needham & Company LLC restated a “buy” rating and set a $16.50 price objective on shares of N-able in a research report on Friday. Finally, BMO Capital Markets reduced their target price on N-able from $14.00 to $13.50 and set a “market perform” rating on the stock in a report on Friday, November 8th.

N-able Price Performance

NABL stock opened at $10.31 on Tuesday. The company’s fifty day simple moving average is $12.12 and its 200 day simple moving average is $13.05. N-able, Inc. has a 12-month low of $9.98 and a 12-month high of $15.48. The company has a quick ratio of 3.01, a current ratio of 3.01 and a debt-to-equity ratio of 0.43. The firm has a market cap of $1.92 billion, a price-to-earnings ratio of 51.55 and a beta of 0.47.

N-able (NYSE:NABL) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.13 earnings per share 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 analyst estimates 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 quarter in the previous year, the business posted $0.03 EPS. On average, analysts expect that N-able, Inc. will post 0.28 earnings per share for the current year.

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.