Teacher Retirement System of Texas Cuts Stock Position in N-able, Inc. (NYSE:NABL)

Teacher Retirement System of Texas lowered its stake in N-able, Inc. (NYSE:NABL) by 71.3% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 10,861 shares of the company’s stock after selling 26,942 shares during the period. Teacher Retirement System of Texas’ holdings in N-able were worth $77,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in NABL. Norges Bank bought a new stake in N-able during the fourth quarter valued at about $3,450,000. Millennium Management LLC grew its position in N-able by 48.6% in the fourth quarter. Millennium Management LLC now owns 791,871 shares of the company’s stock worth $7,396,000 after acquiring an additional 258,979 shares in the last quarter. Crescent Park Management L.P. grew its position in N-able by 32.0% in the fourth quarter. Crescent Park Management L.P. now owns 947,984 shares of the company’s stock worth $8,854,000 after acquiring an additional 229,943 shares in the last quarter. Dimensional Fund Advisors LP grew its position in N-able by 5.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,529,875 shares of the company’s stock worth $32,969,000 after acquiring an additional 179,305 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in N-able by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 9,330,440 shares of the company’s stock worth $87,146,000 after acquiring an additional 161,725 shares in the last quarter. 96.35% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

N-able Stock Up 0.5%

Shares of NYSE:NABL opened at $8.01 on Tuesday. The company has a market cap of $1.51 billion, a price-to-earnings ratio of 89.01 and a beta of 0.62. N-able, Inc. has a fifty-two week low of $6.07 and a fifty-two week high of $14.30. The firm’s 50-day simple moving average is $7.99 and its 200-day simple moving average is $8.15. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.42.

N-able (NYSE:NABL) last released its quarterly earnings data 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%. N-able’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.11 earnings per share. As a group, equities research analysts predict that N-able, Inc. will post 0.27 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.