Applied Fundamental Research LLC Invests $2.31 Million in N-able, Inc. (NYSE:NABL)

Applied Fundamental Research LLC bought a new position in N-able, Inc. (NYSE:NABL) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 151,436 shares of the company’s stock, valued at approximately $2,306,000. N-able comprises about 1.7% of Applied Fundamental Research LLC’s investment portfolio, making the stock its 12th biggest holding.

A number of other hedge funds have also recently added to or reduced their stakes in NABL. Public Sector Pension Investment Board lifted its position in N-able by 7.1% during the 2nd quarter. Public Sector Pension Investment Board now owns 154,471 shares of the company’s stock valued at $2,353,000 after purchasing an additional 10,224 shares during the period. Gabelli Funds LLC lifted its position in N-able by 40.0% during the 2nd quarter. Gabelli Funds LLC now owns 164,572 shares of the company’s stock valued at $2,506,000 after purchasing an additional 47,000 shares during the period. Edgestream Partners L.P. lifted its position in N-able by 61.4% during the 2nd quarter. Edgestream Partners L.P. now owns 295,145 shares of the company’s stock valued at $4,495,000 after purchasing an additional 112,236 shares during the period. Renaissance Technologies LLC lifted its position in N-able by 4.5% during the 2nd quarter. Renaissance Technologies LLC now owns 599,400 shares of the company’s stock valued at $9,129,000 after purchasing an additional 25,966 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in N-able by 13.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,114,043 shares of the company’s stock valued at $47,427,000 after purchasing an additional 371,013 shares during the period. Institutional investors own 96.35% of the company’s stock.

Insider Activity at N-able

In other N-able news, EVP Frank Colletti sold 3,333 shares of N-able stock in a transaction on Monday, July 1st. The shares were 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 directly owns 453,475 shares of the company’s stock, valued at $6,910,959. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CFO Tim James O’brien sold 11,195 shares of the company’s 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 completion of the sale, the chief financial officer now owns 654,232 shares of the company’s stock, valued at approximately $8,400,338.88. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Frank Colletti sold 3,333 shares of the company’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 sale, the executive vice president now directly owns 453,475 shares of the company’s stock, valued at approximately $6,910,959. The disclosure for this sale can be found here. Over the last three months, insiders sold 216,074 shares of company stock valued at $2,803,153. 1.43% of the stock is owned by corporate insiders.

N-able Stock Performance

Shares of NABL stock opened at $12.92 on Monday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.97 and a current ratio of 2.97. The company has a market capitalization of $2.39 billion, a P/E ratio of 92.29 and a beta of 0.45. The company’s 50 day moving average price is $13.17 and its two-hundred day moving average price is $13.28. N-able, Inc. has a 52 week low of $11.50 and a 52 week high of $15.48.

N-able (NYSE:NABL) last issued 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. N-able had a net margin of 7.19% and a return on equity of 5.67%. The company had revenue of $119.40 million during the quarter, compared to analysts’ expectations of $116.83 million. During the same period last year, the business earned $0.03 EPS. The business’s quarterly revenue was up 12.5% on a year-over-year basis. On average, analysts expect that N-able, Inc. will post 0.27 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

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.