634,102 Shares in N-able, Inc. (NYSE:NABL) Purchased by Norges Bank

Norges Bank acquired a new position in N-able, Inc. (NYSE:NABLFree Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 634,102 shares of the company’s stock, valued at approximately $8,402,000. Norges Bank owned 0.35% of N-able at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of N-able by 1.0% during the third quarter. Vanguard Group Inc. now owns 8,413,158 shares of the company’s stock worth $108,530,000 after acquiring an additional 80,385 shares during the period. Dimensional Fund Advisors LP increased its position in shares of N-able by 6.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,476,547 shares of the company’s stock worth $32,814,000 after acquiring an additional 144,098 shares during the period. SG Americas Securities LLC purchased a new position in shares of N-able during the fourth quarter worth approximately $763,000. Quadrature Capital Ltd boosted its stake in shares of N-able by 91.3% during the third quarter. Quadrature Capital Ltd now owns 21,433 shares of the company’s stock valued at $276,000 after purchasing an additional 10,229 shares in the last quarter. Finally, MQS Management LLC bought a new position in shares of N-able during the third quarter valued at approximately $178,000. 96.35% of the stock is owned by hedge funds and other institutional investors.

N-able Price Performance

NYSE NABL opened at $14.08 on Friday. The firm’s fifty day simple moving average is $12.72 and its two-hundred day simple moving average is $12.88. The company has a current ratio of 3.01, a quick ratio of 3.01 and a debt-to-equity ratio of 0.47. N-able, Inc. has a 12-month low of $11.50 and a 12-month high of $14.99. The firm has a market capitalization of $2.60 billion, a P/E ratio of 100.57 and a beta of 0.43.

N-able (NYSE:NABLGet Free Report) last released its quarterly earnings results on Thursday, May 9th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.02). N-able had a return on equity of 4.38% and a net margin of 6.27%. The firm had revenue of $113.75 million during the quarter, compared to analysts’ expectations of $111.42 million. Analysts forecast that N-able, Inc. will post 0.24 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on NABL shares. Needham & Company LLC reiterated a “buy” rating and set a $16.50 price objective on shares of N-able in a research note on Wednesday, May 29th. Royal Bank of Canada increased their price objective on shares of N-able from $16.00 to $17.00 and gave the company an “outperform” rating in a research note on Friday, February 23rd.

Check Out Our Latest Report on N-able

N-able Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for N-able (NYSE:NABL)

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