N-able, Inc. (NYSE:NABL) Shares Acquired by State Street Corp

State Street Corp increased its holdings in shares of N-able, Inc. (NYSE:NABL - Free Report) by 2.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,164,709 shares of the company's stock after purchasing an additional 75,003 shares during the quarter. State Street Corp owned 1.70% of N-able worth $41,331,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Janus Henderson Group PLC lifted its stake in N-able by 2.7% during the third quarter. Janus Henderson Group PLC now owns 253,481 shares of the company's stock worth $3,310,000 after purchasing an additional 6,570 shares in the last quarter. HighTower Advisors LLC raised its holdings in shares of N-able by 116.2% in the 3rd quarter. HighTower Advisors LLC now owns 30,644 shares of the company's stock valued at $406,000 after buying an additional 16,468 shares during the period. Centiva Capital LP lifted its stake in N-able by 22.0% during the 3rd quarter. Centiva Capital LP now owns 56,819 shares of the company's stock worth $742,000 after acquiring an additional 10,237 shares in the last quarter. Atom Investors LP boosted its holdings in N-able by 59.2% during the 3rd quarter. Atom Investors LP now owns 156,126 shares of the company's stock valued at $2,039,000 after acquiring an additional 58,087 shares during the period. Finally, Scalar Gauge Management LLC grew its position in N-able by 40.0% in the 3rd quarter. Scalar Gauge Management LLC now owns 978,663 shares of the company's stock valued at $12,781,000 after acquiring an additional 279,387 shares in the last quarter. 96.35% of the stock is currently owned by hedge funds and other institutional investors.

N-able Stock Down 1.2 %

Shares of N-able stock traded down $0.12 during trading on Friday, hitting $9.66. 1,736,747 shares of the stock were exchanged, compared to its average volume of 531,734. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.01 and a quick ratio of 3.01. The firm's 50-day moving average price is $11.15 and its 200 day moving average price is $12.70. The stock has a market cap of $1.79 billion, a price-to-earnings ratio of 48.30 and a beta of 0.38. N-able, Inc. has a 12-month low of $9.61 and a 12-month high of $15.48.

N-able (NYSE:NABL - Get Free Report) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.13 earnings per share (EPS) for the quarter, topping 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 business 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 firm posted $0.03 EPS. The business's quarterly revenue was up 8.2% compared to the same quarter last year. As a group, analysts forecast that N-able, Inc. will post 0.27 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Royal Bank of Canada reissued an "outperform" rating and issued a $15.00 price objective on shares of N-able in a research note on Thursday, November 21st. Needham & Company LLC reissued a "buy" rating and issued a $16.50 price target on shares of N-able in a research report on Friday, November 22nd. Scotiabank raised N-able to a "hold" rating in a research report on Friday, December 6th. Finally, BMO Capital Markets decreased their target price 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.

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.