Bank of New York Mellon Corp lifted its position in shares of N-able, Inc. (NYSE:NABL – Free Report) by 9.1% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 595,421 shares of the company’s stock after acquiring an additional 49,515 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.33% of N-able worth $8,580,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Swiss National Bank lifted its holdings in N-able by 7.1% during the 1st quarter. Swiss National Bank now owns 105,750 shares of the company’s stock worth $962,000 after purchasing an additional 7,000 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in N-able by 41.5% during the 1st quarter. JPMorgan Chase & Co. now owns 54,388 shares of the company’s stock worth $495,000 after purchasing an additional 15,943 shares in the last quarter. Natixis Advisors L.P. lifted its holdings in N-able by 15.1% during the 1st quarter. Natixis Advisors L.P. now owns 218,396 shares of the company’s stock worth $1,987,000 after purchasing an additional 28,679 shares in the last quarter. BlackRock Inc. lifted its holdings in N-able by 13.2% during the 1st quarter. BlackRock Inc. now owns 2,656,901 shares of the company’s stock worth $24,177,000 after purchasing an additional 310,465 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in N-able by 53.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 690,366 shares of the company’s stock worth $6,283,000 after purchasing an additional 239,546 shares in the last quarter. Institutional investors own 97.34% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of analysts recently issued reports on the company. Needham & Company LLC increased their price objective on N-able from $15.50 to $16.50 and gave the stock a “buy” rating in a report on Thursday, August 10th. BMO Capital Markets lowered their price target on N-able from $15.00 to $14.00 and set a “market perform” rating on the stock in a report on Tuesday, November 14th. Finally, JPMorgan Chase & Co. lowered their price target on N-able from $15.00 to $14.50 and set a “neutral” rating on the stock in a report on Tuesday, November 14th.
N-able Stock Performance
NYSE:NABL opened at $11.81 on Friday. The business’s 50-day moving average price is $13.02 and its two-hundred day moving average price is $13.64. N-able, Inc. has a twelve month low of $9.26 and a twelve month high of $15.44. The stock has a market cap of $2.16 billion, a P/E ratio of 107.37 and a beta of 0.47. The company has a quick ratio of 2.49, a current ratio of 2.56 and a debt-to-equity ratio of 0.49.
N-able (NYSE:NABL – Get Free Report) last released its quarterly earnings results on Monday, November 13th. The company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.01. The firm had revenue of $107.60 million for the quarter, compared to analysts’ expectations of $106.83 million. N-able had a return on equity of 4.16% and a net margin of 5.14%. The company’s revenue was up 15.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.01 EPS. As a group, equities analysts predict that N-able, Inc. will post 0.18 EPS for the current fiscal year.
Insider Activity at N-able
In related news, EVP Peter C. Anastos sold 11,000 shares of the firm’s stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $13.13, for a total transaction of $144,430.00. Following the transaction, the executive vice president now directly owns 288,562 shares of the company’s stock, valued at approximately $3,788,819.06. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.83% of the stock is currently owned by insiders.
N-able, Inc provides cloud-based software solutions for managed service providers. The company's solutions enable MSPs to support digital transformation and growth within small and medium-sized enterprises. Its software platform is designed to be an enterprise-grade solution that serves as an operating system for its MSP partners and scales as their businesses grow.
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