Edgestream Partners L.P. Sells 71,528 Shares of N-able, Inc. (NYSE:NABL)

Edgestream Partners L.P. lessened its holdings in N-able, Inc. (NYSE:NABL) by 24.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 223,617 shares of the company’s stock after selling 71,528 shares during the period. Edgestream Partners L.P. owned about 0.12% of N-able worth $2,920,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of NABL. Scalar Gauge Management LLC bought a new stake in shares of N-able during the second quarter worth about $10,650,000. Applied Fundamental Research LLC boosted its position in N-able by 438.6% during the 3rd quarter. Applied Fundamental Research LLC now owns 815,634 shares of the company’s stock worth $10,652,000 after buying an additional 664,198 shares during the period. Dimensional Fund Advisors LP grew its holdings in N-able by 13.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,114,043 shares of the company’s stock worth $47,427,000 after acquiring an additional 371,013 shares during the last quarter. Sea Cliff Partners Management LP increased its position in N-able by 11.8% in the 2nd quarter. Sea Cliff Partners Management LP now owns 2,146,965 shares of the company’s stock valued at $32,698,000 after acquiring an additional 226,532 shares during the period. Finally, Janus Henderson Group PLC raised its stake in shares of N-able by 1,041.3% during the first quarter. Janus Henderson Group PLC now owns 219,311 shares of the company’s stock valued at $2,866,000 after acquiring an additional 200,095 shares during the last quarter. Institutional investors own 96.35% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on NABL shares. BMO Capital Markets decreased their price objective on N-able from $14.00 to $13.50 and set a “market perform” rating for the company in a report on Friday, November 8th. Royal Bank of Canada reissued an “outperform” rating and issued a $15.00 price target on shares of N-able in a research note 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.

N-able Price Performance

NABL stock opened at $10.44 on Monday. 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 $1.94 billion, a price-to-earnings ratio of 52.20 and a beta of 0.47. The company’s fifty day simple moving average is $11.92 and its 200 day simple moving average is $12.98. N-able, Inc. has a 12-month low of $9.98 and a 12-month high of $15.48.

N-able (NYSE:NABL) last announced 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 return on equity of 6.31% and a net margin of 8.08%. The company had revenue of $116.40 million for the quarter, compared to the consensus estimate of $114.75 million. During the same period in the previous year, the business earned $0.03 EPS. The firm’s revenue was up 8.2% compared to the same quarter last year. On average, analysts expect that N-able, Inc. will post 0.27 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.