N-able, Inc. (NYSE:NABL) Shares Bought by Scalar Gauge Management LLC

Scalar Gauge Management LLC boosted its position in N-able, Inc. (NYSE:NABL) by 40.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 978,663 shares of the company’s stock after buying an additional 279,387 shares during the quarter. N-able makes up about 6.8% of Scalar Gauge Management LLC’s portfolio, making the stock its 4th biggest position. Scalar Gauge Management LLC owned about 0.53% of N-able worth $12,781,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of NABL. Vanguard Group Inc. boosted its holdings in shares of 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 buying an additional 116,293 shares during the last quarter. Dimensional Fund Advisors LP raised its position in N-able by 13.5% during the second quarter. Dimensional Fund Advisors LP now owns 3,114,043 shares of the company’s stock worth $47,427,000 after acquiring an additional 371,013 shares in the last quarter. Sea Cliff Partners Management LP lifted its stake in N-able by 11.8% in the second quarter. Sea Cliff Partners Management LP now owns 2,146,965 shares of the company’s stock valued at $32,698,000 after acquiring an additional 226,532 shares during the last quarter. Applied Fundamental Research LLC grew its position in shares of N-able by 438.6% in the 3rd quarter. Applied Fundamental Research LLC now owns 815,634 shares of the company’s stock valued at $10,652,000 after acquiring an additional 664,198 shares during the period. Finally, Renaissance Technologies LLC increased its stake in shares of N-able by 4.5% during the 2nd quarter. Renaissance Technologies LLC now owns 599,400 shares of the company’s stock worth $9,129,000 after purchasing an additional 25,966 shares during the last quarter. Institutional investors and hedge funds own 96.35% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $15.00 target price on shares of N-able in a research note on Thursday, November 21st. Needham & Company LLC reaffirmed a “buy” rating and issued a $16.50 price objective on shares of N-able in a research report on Friday, November 22nd. Finally, BMO Capital Markets reduced their target price on N-able from $14.00 to $13.50 and set a “market perform” rating for the company in a research note on Friday, November 8th.

N-able Stock Performance

NABL opened at $10.44 on Friday. 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, Inc. has a 52-week low of $9.98 and a 52-week high of $15.48. The firm has a market cap of $1.94 billion, a P/E ratio of 52.20 and a beta of 0.47. The business’s fifty day moving average is $11.97 and its 200-day moving average is $13.00.

N-able (NYSE:NABL) last released its earnings results on Thursday, November 7th. The company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.10 by $0.03. N-able had a net margin of 8.08% and a return on equity of 6.31%. The firm had revenue of $116.40 million for the quarter, compared to analyst estimates of $114.75 million. During the same period last year, the firm earned $0.03 EPS. The business’s quarterly revenue was up 8.2% compared to the same quarter last year. Sell-side analysts expect that N-able, Inc. will post 0.27 EPS for the current fiscal year.

N-able 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.