Arizona State Retirement System Purchases 3,094 Shares of N-able, Inc. (NYSE:NABL)

Arizona State Retirement System boosted its position in N-able, Inc. (NYSE:NABL) by 17.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 20,689 shares of the company’s stock after acquiring an additional 3,094 shares during the period. Arizona State Retirement System’s holdings in N-able were worth $315,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Victory Capital Management Inc. raised its position in shares of N-able by 37.1% during the fourth quarter. Victory Capital Management Inc. now owns 32,218 shares of the company’s stock worth $427,000 after purchasing an additional 8,712 shares during the period. Teacher Retirement System of Texas raised its position in N-able by 5.1% in the 4th quarter. Teacher Retirement System of Texas now owns 56,496 shares of the company’s stock valued at $749,000 after buying an additional 2,729 shares during the last quarter. Dimensional Fund Advisors LP raised its position in N-able by 6.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,476,547 shares of the company’s stock valued at $32,814,000 after buying an additional 144,098 shares during the last quarter. Norges Bank acquired a new stake in N-able in the 4th quarter valued at approximately $8,402,000. Finally, Trexquant Investment LP raised its position in N-able by 29.2% in the 4th quarter. Trexquant Investment LP now owns 40,682 shares of the company’s stock valued at $539,000 after buying an additional 9,202 shares during the last quarter. Institutional investors own 96.35% of the company’s stock.

Analyst Ratings Changes

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

Insider Transactions at N-able

In other N-able news, EVP Peter C. Anastos sold 16,000 shares of the company’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $13.04, for a total value of $208,640.00. Following the completion of the transaction, the executive vice president now owns 322,774 shares of the company’s stock, valued at approximately $4,208,972.96. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CFO Tim James O’brien sold 11,195 shares of the company’s stock in a transaction dated Monday, August 12th. The stock was 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 approximately $8,400,338.88. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Peter C. Anastos sold 16,000 shares of the company’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $13.04, for a total value of $208,640.00. Following the sale, the executive vice president now owns 322,774 shares in the company, valued at approximately $4,208,972.96. The disclosure for this sale can be found here. In the last quarter, insiders sold 220,783 shares of company stock valued at $2,873,976. Corporate insiders own 1.43% of the company’s stock.

N-able Price Performance

Shares of NYSE NABL opened at $12.74 on Wednesday. The stock has a market capitalization of $2.35 billion, a PE ratio of 91.00 and a beta of 0.45. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.97 and a quick ratio of 2.97. The business has a fifty day moving average price of $13.28 and a two-hundred day moving average price of $13.28. N-able, Inc. has a fifty-two week low of $11.50 and a fifty-two week high of $15.48.

N-able (NYSE:NABL) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $116.83 million. During the same quarter in the previous year, the firm earned $0.03 EPS. N-able’s revenue was up 12.5% on a year-over-year basis. As a group, equities analysts predict 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.