Louisiana State Employees Retirement System Buys New Position in N-able, Inc. (NYSE:NABL)

Louisiana State Employees Retirement System purchased a new position in shares of N-able, Inc. (NYSE:NABL) in the fourth quarter, HoldingsChannel reports. The fund purchased 34,800 shares of the company’s stock, valued at approximately $461,000.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of N-able by 1.0% in the third quarter. Vanguard Group Inc. now owns 8,413,158 shares of the company’s stock worth $108,530,000 after purchasing an additional 80,385 shares in the last quarter. LGT Capital Partners LTD. lifted its position in N-able by 14.0% during the 4th quarter. LGT Capital Partners LTD. now owns 530,000 shares of the company’s stock worth $7,022,000 after buying an additional 65,000 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of N-able during the 4th quarter worth about $763,000. Jump Financial LLC grew its holdings in shares of N-able by 221.8% in the 3rd quarter. Jump Financial LLC now owns 73,922 shares of the company’s stock valued at $954,000 after acquiring an additional 50,948 shares in the last quarter. Finally, Illinois Municipal Retirement Fund acquired a new stake in shares of N-able in the third quarter valued at about $487,000. 96.35% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Royal Bank of Canada increased their price target on N-able from $16.00 to $17.00 and gave the company an “outperform” rating in a research report on Friday, February 23rd. Needham & Company LLC reissued a “buy” rating and issued a $16.50 price objective on shares of N-able in a report on Thursday, February 22nd.

N-able Trading Down 0.1 %

N-able stock opened at $12.39 on Tuesday. The stock has a 50-day simple moving average of $12.87 and a 200 day simple moving average of $12.87. The stock has a market capitalization of $2.29 billion, a P/E ratio of 103.26 and a beta of 0.38. The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.75 and a current ratio of 2.75. N-able, Inc. has a 52 week low of $11.50 and a 52 week high of $15.44.

N-able (NYSE:NABL) last issued its earnings results on Thursday, February 22nd. The company reported $0.06 EPS for the quarter, topping the consensus estimate of $0.05 by $0.01. The company had revenue of $108.42 million during the quarter, compared to the consensus estimate of $106.86 million. N-able had a return on equity of 4.20% and a net margin of 5.55%. Analysts expect that N-able, Inc. will post 0.25 earnings per share for the current year.

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.