N-able, Inc. (NYSE:NABL) Shares Bought by AlphaQuest LLC

AlphaQuest LLC grew its position in shares of N-able, Inc. (NYSE:NABL) by 56.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 104,867 shares of the company’s stock after purchasing an additional 37,650 shares during the quarter. AlphaQuest LLC owned 0.06% of N-able worth $979,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. Applied Fundamental Research LLC raised its position in shares of N-able by 438.6% during the third quarter. Applied Fundamental Research LLC now owns 815,634 shares of the company’s stock worth $10,652,000 after purchasing an additional 664,198 shares during the period. Scalar Gauge Management LLC raised its position in shares of N-able by 40.0% during the third quarter. Scalar Gauge Management LLC now owns 978,663 shares of the company’s stock worth $12,781,000 after purchasing an additional 279,387 shares during the period. Edgestream Partners L.P. raised its position in shares of N-able by 86.5% during the fourth quarter. Edgestream Partners L.P. now owns 417,004 shares of the company’s stock worth $3,895,000 after purchasing an additional 193,387 shares during the period. JPMorgan Chase & Co. raised its position in shares of N-able by 110.9% during the third quarter. JPMorgan Chase & Co. now owns 275,906 shares of the company’s stock worth $3,603,000 after purchasing an additional 145,053 shares during the period. Finally, Barclays PLC raised its position in shares of N-able by 398.2% during the third quarter. Barclays PLC now owns 143,095 shares of the company’s stock worth $1,869,000 after purchasing an additional 114,374 shares during the period. 96.35% of the stock is currently owned by institutional investors and hedge funds.

N-able Stock Performance

Shares of NABL stock opened at $6.93 on Tuesday. N-able, Inc. has a 1-year low of $6.75 and a 1-year high of $15.49. The company has a current ratio of 3.01, a quick ratio of 3.01 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $1.29 billion, a price-to-earnings ratio of 34.63 and a beta of 0.41. The stock’s fifty day simple moving average is $9.39 and its 200-day simple moving average is $10.86.

Wall Street Analysts Forecast Growth

NABL has been the topic of a number of recent analyst reports. Scotiabank cut their target price on N-able from $11.00 to $8.75 and set a “sector perform” rating on the stock in a research report on Tuesday, March 4th. BMO Capital Markets reiterated a “market perform” rating and set a $8.50 price target (down previously from $13.50) on shares of N-able in a report on Tuesday, March 4th. Royal Bank of Canada lowered their price target on N-able from $12.00 to $10.00 and set an “outperform” rating on the stock in a report on Tuesday, March 4th. Finally, Needham & Company LLC lowered their price target on N-able from $16.50 to $10.00 and set a “buy” rating on the stock in a report on Monday, March 3rd.

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.