N-able, Inc. (NYSE:NABL) Shares Acquired by HighTower Advisors LLC

HighTower Advisors LLC raised its holdings in N-able, Inc. (NYSE:NABL) by 116.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 30,644 shares of the company’s stock after purchasing an additional 16,468 shares during the period. HighTower Advisors LLC’s holdings in N-able were worth $406,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Mackenzie Financial Corp grew its position in shares of N-able by 2.2% in the second quarter. Mackenzie Financial Corp now owns 40,497 shares of the company’s stock valued at $617,000 after purchasing an additional 866 shares during the period. Louisiana State Employees Retirement System boosted its holdings in N-able by 2.6% in the 2nd quarter. Louisiana State Employees Retirement System now owns 35,300 shares of the company’s stock worth $538,000 after buying an additional 900 shares during the last quarter. Rhumbline Advisers increased its stake in N-able by 0.8% during the 2nd quarter. Rhumbline Advisers now owns 203,826 shares of the company’s stock worth $3,104,000 after buying an additional 1,668 shares in the last quarter. Summit Securities Group LLC acquired a new position in N-able in the 2nd quarter valued at $30,000. Finally, Arizona State Retirement System lifted its holdings in N-able by 17.6% in the 2nd quarter. Arizona State Retirement System now owns 20,689 shares of the company’s stock valued at $315,000 after purchasing an additional 3,094 shares in the last quarter. Hedge funds and other institutional investors own 96.35% of the company’s stock.

Analyst Upgrades and Downgrades

NABL has been the subject of a number of research reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $15.00 target price on shares of N-able in a report on Thursday, November 21st. Scotiabank upgraded N-able to a “hold” rating in a research report on Friday, December 6th. Needham & Company LLC reiterated a “buy” rating and set a $16.50 price objective on shares of N-able in a research report on Friday, November 22nd. Finally, BMO Capital Markets dropped their target price on N-able from $14.00 to $13.50 and set a “market perform” rating for the company in a report on Friday, November 8th.

N-able Stock Down 1.2 %

NABL stock opened at $9.66 on Friday. N-able, Inc. has a one year low of $9.61 and a one year high of $15.48. The firm has a market cap of $1.79 billion, a PE ratio of 48.30 and a beta of 0.38. The firm’s 50 day moving average price is $11.15 and its 200-day moving average price is $12.70. The company has a debt-to-equity ratio of 0.43, a quick ratio of 3.01 and a current ratio of 3.01.

N-able (NYSE:NABL) last posted its earnings results on Thursday, November 7th. The company reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.03. N-able had a net margin of 8.08% and a return on equity of 6.31%. The company had revenue of $116.40 million for the quarter, compared to analysts’ expectations of $114.75 million. During the same quarter in the prior year, the company posted $0.03 earnings per share. N-able’s revenue for the quarter was up 8.2% compared to the same quarter last year. On average, equities research analysts anticipate that N-able, Inc. will post 0.27 EPS 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.