Louisiana State Employees Retirement System Has $444,000 Position in N-able, Inc. (NYSE:NABL)

Louisiana State Employees Retirement System lowered its holdings in N-able, Inc. (NYSE:NABL) by 3.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 34,000 shares of the company’s stock after selling 1,300 shares during the quarter. Louisiana State Employees Retirement System’s holdings in N-able were worth $444,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Stanley Laman Group Ltd. boosted its holdings in N-able by 52.9% during the third quarter. Stanley Laman Group Ltd. now owns 324,864 shares of the company’s stock valued at $4,243,000 after purchasing an additional 112,458 shares in the last quarter. Exchange Traded Concepts LLC boosted its stake in N-able by 169.1% in the 3rd quarter. Exchange Traded Concepts LLC now owns 135,799 shares of the company’s stock valued at $1,774,000 after buying an additional 85,326 shares in the last quarter. Handelsbanken Fonder AB bought a new stake in N-able in the third quarter valued at $221,000. Clearline Capital LP acquired a new position in N-able during the second quarter worth $759,000. Finally, Algert Global LLC lifted its holdings in shares of N-able by 96.7% during the second quarter. Algert Global LLC now owns 92,780 shares of the company’s stock valued at $1,413,000 after acquiring an additional 45,610 shares during the period. Institutional investors and hedge funds own 96.35% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In other N-able news, Director Ann Johnson sold 21,200 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $12.79, for a total value of $271,148.00. Following the completion of the transaction, the director now directly owns 48,797 shares of the company’s stock, valued at approximately $624,113.63. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Ann Johnson sold 21,200 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $12.79, for a total transaction of $271,148.00. Following the sale, the director now directly owns 48,797 shares of the company’s stock, valued at $624,113.63. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Tim James O’brien sold 11,195 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $12.84, for a total transaction of $143,743.80. Following the completion of the transaction, the chief financial officer now owns 654,232 shares of the company’s stock, valued at $8,400,338.88. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 199,351 shares of company stock worth $2,551,240 in the last 90 days. Corporate insiders own 1.43% of the company’s stock.

N-able Stock Up 1.9 %

NYSE NABL opened at $12.71 on Thursday. The stock’s 50 day simple moving average is $12.62 and its 200 day simple moving average is $13.21. N-able, Inc. has a one year low of $11.50 and a one year high of $15.48. The firm has a market cap of $2.36 billion, a PE ratio of 74.82 and a beta of 0.47. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.97 and a quick ratio of 2.97.

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