State Street Corp Raises Stock Position in N-able, Inc. (NYSE:NABL)

State Street Corp grew its holdings in shares of N-able, Inc. (NYSE:NABL) by 2.4% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 3,164,709 shares of the company’s stock after acquiring an additional 75,003 shares during the quarter. State Street Corp’s holdings in N-able were worth $41,331,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Summit Securities Group LLC purchased a new position in N-able during the second quarter worth $30,000. Verition Fund Management LLC purchased a new position in shares of N-able during the 3rd quarter worth about $146,000. Entropy Technologies LP bought a new position in N-able during the 3rd quarter valued at about $149,000. Aigen Investment Management LP raised its position in N-able by 38.4% in the 3rd quarter. Aigen Investment Management LP now owns 13,915 shares of the company’s stock worth $182,000 after purchasing an additional 3,863 shares during the period. Finally, Intech Investment Management LLC bought a new stake in N-able in the third quarter worth about $188,000. Institutional investors own 96.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. BMO Capital Markets reduced their price target on N-able from $14.00 to $13.50 and set a “market perform” rating on the stock in a report on Friday, November 8th. Royal Bank of Canada reiterated an “outperform” rating and issued a $15.00 target price on shares of N-able in a research note on Thursday, November 21st. Scotiabank upgraded shares of N-able to a “hold” rating in a report on Friday, December 6th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $16.50 price objective on shares of N-able in a report on Friday, November 22nd.

N-able Price Performance

Shares of NABL stock opened at $9.66 on Friday. The stock has a market capitalization of $1.79 billion, a price-to-earnings ratio of 48.30 and a beta of 0.38. The company has a current ratio of 3.01, a quick ratio of 3.01 and a debt-to-equity ratio of 0.43. N-able, Inc. has a twelve month low of $9.61 and a twelve month high of $15.48. The stock has a fifty day simple moving average of $11.15 and a two-hundred day simple moving average of $12.70.

N-able (NYSE:NABL) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.03. The firm had revenue of $116.40 million for the quarter, compared to the consensus estimate of $114.75 million. N-able had a net margin of 8.08% and a return on equity of 6.31%. The company’s quarterly revenue was up 8.2% on a year-over-year basis. During the same period last year, the firm earned $0.03 earnings per share. On average, analysts predict that N-able, Inc. will post 0.27 EPS for the current fiscal 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.