N-able, Inc. (NYSE:NABL) Shares Purchased by Principal Financial Group Inc.

Principal Financial Group Inc. grew its holdings in N-able, Inc. (NYSE:NABL) by 2.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 390,692 shares of the company’s stock after buying an additional 8,789 shares during the quarter. Principal Financial Group Inc. owned 0.21% of N-able worth $2,770,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Aquatic Capital Management LLC acquired a new stake in shares of N-able in the fourth quarter valued at about $29,000. Tower Research Capital LLC TRC lifted its stake in N-able by 67.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,251 shares of the company’s stock worth $30,000 after purchasing an additional 1,309 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of N-able by 332.7% during the 1st 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 last quarter. Revisor Wealth Management LLC purchased a new stake in shares of N-able in the first quarter valued at approximately $82,000. Finally, New Age Alpha Advisors LLC purchased a new stake in shares of N-able in the fourth quarter valued at approximately $83,000. 96.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Needham & Company LLC restated a “buy” rating and issued a $10.00 target price on shares of N-able in a report on Monday, May 5th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, N-able presently has an average rating of “Moderate Buy” and a consensus price target of $9.38.

N-able Stock Down 1.1%

NABL stock opened at $7.98 on Friday. N-able, Inc. has a one year low of $6.07 and a one year high of $14.42. The firm has a market cap of $1.51 billion, a PE ratio of 88.67 and a beta of 0.62. The firm’s 50 day moving average price is $7.99 and its 200-day moving average price is $8.16. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.20 and a current ratio of 1.20.

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

N-able Company 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.