N-able, Inc. (NYSE:NABL) Shares Sold by Jane Street Group LLC

Jane Street Group LLC lessened its position in shares of N-able, Inc. (NYSE:NABL - Free Report) by 51.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 54,277 shares of the company's stock after selling 56,968 shares during the quarter. Jane Street Group LLC's holdings in N-able were worth $709,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NABL. Mackenzie Financial Corp grew its stake in N-able by 2.2% in the 2nd quarter. Mackenzie Financial Corp now owns 40,497 shares of the company's stock valued at $617,000 after acquiring an additional 866 shares during the period. Rhumbline Advisers grew its position in shares of N-able by 0.8% in the second quarter. Rhumbline Advisers now owns 203,826 shares of the company's stock valued at $3,104,000 after purchasing an additional 1,668 shares during the period. Arizona State Retirement System increased its stake in shares of N-able by 17.6% during the second quarter. Arizona State Retirement System now owns 20,689 shares of the company's stock worth $315,000 after purchasing an additional 3,094 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of N-able by 9.5% during the second quarter. The Manufacturers Life Insurance Company now owns 42,369 shares of the company's stock worth $645,000 after purchasing an additional 3,662 shares in the last quarter. Finally, Aigen Investment Management LP raised its position in shares of N-able by 38.4% during the 3rd quarter. Aigen Investment Management LP now owns 13,915 shares of the company's stock worth $182,000 after purchasing an additional 3,863 shares during the last quarter. Hedge funds and other institutional investors own 96.35% of the company's stock.

N-able Price Performance

Shares of N-able stock traded up $0.06 on Friday, hitting $9.31. 864,203 shares of the company were exchanged, compared to its average volume of 641,252. N-able, Inc. has a 1-year low of $9.11 and a 1-year 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 stock has a market capitalization of $1.73 billion, a price-to-earnings ratio of 46.55 and a beta of 0.38. The company has a 50-day moving average price of $10.54 and a 200 day moving average price of $12.36.

N-able (NYSE:NABL - Get Free Report) last issued its earnings results on Thursday, November 7th. The company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts' expectations of $114.75 million. During the same period in the prior year, the business earned $0.03 EPS. The firm's quarterly revenue was up 8.2% on a year-over-year basis. As a group, sell-side analysts predict that N-able, Inc. will post 0.27 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Royal Bank of Canada reiterated an "outperform" rating and set a $15.00 price objective on shares of N-able in a research note on Thursday, November 21st. Needham & Company LLC reiterated a "buy" rating and set a $16.50 price target on shares of N-able in a research report on Friday, November 22nd. Scotiabank upgraded N-able to a "hold" rating in a report on Friday, December 6th. Finally, BMO Capital Markets dropped their target price on shares of N-able from $14.00 to $13.50 and set a "market perform" rating for the company in a report on Friday, November 8th.

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.