N-able, Inc. (NYSE:NABL) Shares Sold by 272 Capital LP

272 Capital LP lessened its stake in N-able, Inc. (NYSE:NABL - Free Report) by 59.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 80,200 shares of the company's stock after selling 116,009 shares during the quarter. 272 Capital LP's holdings in N-able were worth $1,047,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the stock. Summit Securities Group LLC purchased a new position in N-able in the second quarter valued at approximately $30,000. GAMMA Investing LLC raised its stake in shares of N-able by 644.2% in the 2nd quarter. GAMMA Investing LLC now owns 3,654 shares of the company's stock valued at $56,000 after acquiring an additional 3,163 shares during the period. Verition Fund Management LLC purchased a new position in shares of N-able in the 3rd quarter valued at $146,000. Entropy Technologies LP acquired a new position in shares of N-able during the 3rd quarter valued at $149,000. Finally, Summit Global Investments purchased a new stake in N-able during the 2nd quarter worth $191,000. 96.35% of the stock is owned by hedge funds and other institutional investors.

N-able Stock Up 1.6 %

NYSE:NABL traded up $0.16 on Friday, reaching $10.44. The stock had a trading volume of 294,259 shares, compared to its average volume of 519,399. N-able, Inc. has a 12-month low of $9.98 and a 12-month high of $15.48. The stock has a market cap of $1.94 billion, a P/E ratio of 52.20 and a beta of 0.47. 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 50-day moving average of $11.92 and a 200 day moving average of $12.98.

N-able (NYSE:NABL - Get Free Report) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.13 earnings per share 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 firm had revenue of $116.40 million during the quarter, compared to analyst estimates of $114.75 million. During the same quarter last year, the firm earned $0.03 EPS. N-able's quarterly revenue was up 8.2% on a year-over-year basis. On average, research analysts predict that N-able, Inc. will post 0.27 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Needham & Company LLC reissued a "buy" rating and issued a $16.50 price objective on shares of N-able in a research report on Friday, November 22nd. Royal Bank of Canada reissued an "outperform" rating and set a $15.00 price target on shares of N-able in a research report on Thursday, November 21st. Finally, BMO Capital Markets decreased their price target 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.

N-able Company 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.