Edgestream Partners L.P. Acquires 193,387 Shares of N-able, Inc. (NYSE:NABL)

Edgestream Partners L.P. raised its holdings in shares of N-able, Inc. (NYSE:NABL) by 86.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 417,004 shares of the company’s stock after purchasing an additional 193,387 shares during the period. Edgestream Partners L.P. owned 0.22% of N-able worth $3,895,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Blue Trust Inc. raised its position in N-able by 95.5% during the 4th quarter. Blue Trust Inc. now owns 3,128 shares of the company’s stock valued at $29,000 after purchasing an additional 1,528 shares during the last quarter. KBC Group NV raised its position in shares of N-able by 104.7% in the 4th quarter. KBC Group NV now owns 5,490 shares of the company’s stock worth $51,000 after acquiring an additional 2,808 shares in the last quarter. Impact Partnership Wealth LLC bought a new position in shares of N-able in the 4th quarter worth approximately $104,000. Verition Fund Management LLC bought a new position in shares of N-able in the 3rd quarter worth approximately $146,000. Finally, Entropy Technologies LP bought a new position in shares of N-able in the 3rd quarter worth approximately $149,000. Institutional investors own 96.35% of the company’s stock.

N-able Stock Performance

N-able stock opened at $7.36 on Friday. 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 company has a market capitalization of $1.37 billion, a P/E ratio of 36.78 and a beta of 0.41. The stock’s 50 day moving average is $9.44 and its 200 day moving average is $10.91. N-able, Inc. has a twelve month low of $6.75 and a twelve month high of $15.48.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Scotiabank decreased their target price on N-able from $11.00 to $8.75 and set a “sector perform” rating for the company in a research report on Tuesday, March 4th. Royal Bank of Canada decreased their target price on N-able from $12.00 to $10.00 and set an “outperform” rating for the company in a research report on Tuesday, March 4th. BMO Capital Markets reissued a “market perform” rating and issued a $8.50 target price (down previously from $13.50) on shares of N-able in a research report on Tuesday, March 4th. Finally, Needham & Company LLC cut their price target on N-able from $16.50 to $10.00 and set a “buy” rating on the stock in a research note on Monday, March 3rd.

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.