New York State Teachers Retirement System Has $124,000 Stake in N-able, Inc. (NYSE:NABL)

New York State Teachers Retirement System reduced its stake in N-able, Inc. (NYSE:NABL) by 15.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,486 shares of the company’s stock after selling 3,169 shares during the period. New York State Teachers Retirement System’s holdings in N-able were worth $124,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in shares of N-able by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 9,330,440 shares of the company’s stock valued at $87,146,000 after acquiring an additional 161,725 shares during the period. BNP Paribas Financial Markets bought a new stake in N-able during the fourth quarter worth about $525,000. GAMMA Investing LLC lifted its position in N-able by 332.7% during the first quarter. GAMMA Investing LLC now owns 10,722 shares of the company’s stock worth $76,000 after purchasing an additional 8,244 shares during the period. Crescent Park Management L.P. grew its stake in N-able by 32.0% during the fourth quarter. Crescent Park Management L.P. now owns 947,984 shares of the company’s stock worth $8,854,000 after buying an additional 229,943 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in N-able by 3.5% in the 4th quarter. Bank of New York Mellon Corp now owns 487,320 shares of the company’s stock valued at $4,552,000 after buying an additional 16,253 shares during the period. Institutional investors and hedge funds own 96.35% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on NABL. Scotiabank increased their price target on shares of N-able from $8.75 to $9.00 and gave the stock a “sector perform” rating in a research report on Friday, March 14th. Needham & Company LLC reaffirmed a “buy” rating and issued a $10.00 target price on shares of N-able in a report on Monday, May 5th. Finally, William Blair reissued an “outperform” rating on shares of N-able in a report on Friday, March 14th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, N-able currently has a consensus rating of “Moderate Buy” and a consensus target price of $9.38.

N-able Price Performance

Shares of NYSE:NABL opened at $8.19 on Friday. N-able, Inc. has a one year low of $6.07 and a one year high of $15.00. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.20 and a quick ratio of 1.20. The company has a market cap of $1.55 billion, a price-to-earnings ratio of 91.00 and a beta of 0.62. The firm has a 50 day simple moving average of $7.91 and a 200 day simple moving average of $8.23.

N-able (NYSE:NABL) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.02. The company had revenue of $118.20 million during the quarter, compared to the consensus estimate of $115.65 million. N-able had a net margin of 3.47% and a return on equity of 5.20%. The company’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.11 earnings per share. Research analysts predict that N-able, Inc. will post 0.27 earnings per share for the current fiscal year.

N-able 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.