Applied Fundamental Research LLC Has $10.65 Million Stake in N-able, Inc. (NYSE:NABL)

Applied Fundamental Research LLC increased its stake in shares of N-able, Inc. (NYSE:NABL) by 438.6% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 815,634 shares of the company’s stock after buying an additional 664,198 shares during the period. N-able comprises about 7.0% of Applied Fundamental Research LLC’s holdings, making the stock its 7th biggest position. Applied Fundamental Research LLC’s holdings in N-able were worth $10,652,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of NABL. Vanguard Group Inc. raised its stake in N-able by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 8,813,563 shares of the company’s stock valued at $115,193,000 after acquiring an additional 116,293 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of 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 buying an additional 371,013 shares in the last quarter. Sea Cliff Partners Management LP boosted its holdings in N-able by 11.8% in the 2nd quarter. Sea Cliff Partners Management LP now owns 2,146,965 shares of the company’s stock worth $32,698,000 after buying an additional 226,532 shares during the period. Scalar Gauge Management LLC purchased a new position in N-able in the 2nd quarter valued at approximately $10,650,000. Finally, Renaissance Technologies LLC grew its stake in N-able by 4.5% in the 2nd quarter. Renaissance Technologies LLC now owns 599,400 shares of the company’s stock valued at $9,129,000 after buying an additional 25,966 shares in the last quarter. Institutional investors own 96.35% of the company’s stock.

N-able Trading Down 0.6 %

Shares of NABL opened at $10.31 on Tuesday. The firm has a market cap of $1.92 billion, a price-to-earnings ratio of 51.55 and a beta of 0.47. The firm has a 50 day moving average price of $12.12 and a 200-day moving average price of $13.05. N-able, Inc. has a fifty-two week low of $9.98 and a fifty-two week high of $15.48. 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.03. N-able had a return on equity of 6.31% and a net margin of 8.08%. The company had revenue of $116.40 million for the quarter, compared to analysts’ expectations of $114.75 million. During the same period last year, the firm earned $0.03 earnings per share. N-able’s quarterly revenue was up 8.2% on a year-over-year basis. As a group, equities research analysts forecast that N-able, Inc. will post 0.28 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on NABL shares. 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. Royal Bank of Canada reissued an “outperform” rating and issued a $15.00 price target on shares of N-able in a report on Thursday, November 21st. Finally, BMO Capital Markets dropped their price objective on shares of N-able from $14.00 to $13.50 and set a “market perform” rating for the company in a report on Friday, November 8th.

Insider Activity

In related news, EVP Peter C. Anastos sold 16,000 shares of N-able stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $13.04, for a total transaction of $208,640.00. Following the completion of the transaction, the executive vice president now directly owns 322,774 shares of the company’s stock, valued at $4,208,972.96. This trade represents a 4.72 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 1.43% of the company’s stock.

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.