Cubist Systematic Strategies LLC Acquires 182,832 Shares of N-able, Inc. (NYSE:NABL)

Cubist Systematic Strategies LLC boosted its stake in N-able, Inc. (NYSE:NABL) by 365.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 232,927 shares of the company’s stock after acquiring an additional 182,832 shares during the period. Cubist Systematic Strategies LLC’s holdings in N-able were worth $3,547,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in NABL. Sea Cliff Partners Management LP purchased a new stake in shares of N-able in the 4th quarter worth about $16,940,000. Scalar Gauge Management LLC bought a new stake in N-able during the 2nd quarter valued at approximately $10,650,000. Sunriver Management LLC boosted its position in N-able by 28.7% during the 4th quarter. Sunriver Management LLC now owns 2,847,909 shares of the company’s stock valued at $37,735,000 after acquiring an additional 635,200 shares in the last quarter. Norges Bank purchased a new position in shares of N-able during the 4th quarter worth approximately $8,402,000. Finally, Dimensional Fund Advisors LP raised its position in shares of N-able by 13.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,114,043 shares of the company’s stock worth $47,427,000 after acquiring an additional 371,013 shares in the last quarter. 96.35% of the stock is owned by hedge funds and other institutional investors.

N-able Price Performance

Shares of NABL opened at $12.99 on Friday. N-able, Inc. has a fifty-two week low of $11.50 and a fifty-two week high of $15.48. The firm’s 50-day simple moving average is $13.02 and its two-hundred day simple moving average is $13.27. The stock has a market cap of $2.41 billion, a PE ratio of 92.79 and a beta of 0.45. The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.97 and a current ratio of 2.97.

N-able (NYSE:NABL) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.04. The company had revenue of $119.40 million for the quarter, compared to the consensus estimate of $116.83 million. N-able had a return on equity of 5.67% and a net margin of 7.19%. The firm’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.03 EPS. Analysts anticipate that N-able, Inc. will post 0.27 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Needham & Company LLC restated a “buy” rating and set a $16.50 price target on shares of N-able in a research report on Friday, August 9th.

Insider Activity

In related news, EVP Frank Colletti sold 3,333 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $15.24, for a total value of $50,794.92. Following the transaction, the executive vice president now owns 453,475 shares in the company, valued at approximately $6,910,959. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CFO Tim James O’brien sold 11,195 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $12.84, for a total transaction of $143,743.80. Following the sale, the chief financial officer now owns 654,232 shares in the company, valued at $8,400,338.88. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Frank Colletti sold 3,333 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $15.24, for a total transaction of $50,794.92. Following the completion of the transaction, the executive vice president now owns 453,475 shares of the company’s stock, valued at $6,910,959. The disclosure for this sale can be found here. Insiders sold 202,684 shares of company stock worth $2,602,035 over the last three months. 1.43% of the stock is currently owned by corporate insiders.

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.