XTX Topco Ltd Purchases Shares of 88,630 N-able, Inc. (NYSE:NABL)

Key Points

• XTX Topco Ltd purchased approximately 88,630 shares of N-able, Inc. for about $628,000, as disclosed in a recent SEC filing.
• N-able's recent quarterly earnings showed an earnings per share (EPS) of $0.08, surpassing the expected $0.06 and indicating a 4.0% increase in revenue compared to the same quarter last year.
• The stock currently holds a consensus rating of "Moderate Buy" with an average price target of $9.38 set by analysts.

XTX Topco Ltd purchased a new position in N-able, Inc. (NYSE:NABL - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 88,630 shares of the company's stock, valued at approximately $628,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Mackenzie Financial Corp lifted its position in shares of N-able by 10.2% in the 1st quarter. Mackenzie Financial Corp now owns 51,351 shares of the company's stock worth $364,000 after purchasing an additional 4,770 shares during the period. Y Intercept Hong Kong Ltd lifted its position in shares of N-able by 28.5% in the 1st quarter. Y Intercept Hong Kong Ltd now owns 43,363 shares of the company's stock worth $307,000 after purchasing an additional 9,616 shares during the period. Allianz Asset Management GmbH acquired a new position in shares of N-able during the 1st quarter valued at $542,000. Victory Capital Management Inc. lifted its position in shares of N-able by 9.2% during the 1st quarter. Victory Capital Management Inc. now owns 72,390 shares of the company's stock valued at $513,000 after acquiring an additional 6,076 shares during the period. Finally, Edgestream Partners L.P. lifted its position in shares of N-able by 89.7% during the 1st quarter. Edgestream Partners L.P. now owns 790,993 shares of the company's stock valued at $5,608,000 after acquiring an additional 373,989 shares during the period. Institutional investors and hedge funds own 96.35% of the company's stock.

Analyst Upgrades and Downgrades

NABL has been the topic of a number of research reports. Scotiabank boosted their target price on shares of N-able from $8.30 to $8.75 and gave the company a "sector perform" rating in a research report on Friday. Needham & Company LLC reiterated a "buy" rating and set a $10.00 target price on shares of N-able in a research report on Monday, May 5th. Finally, Wall Street Zen upgraded shares of N-able from a "hold" rating to a "buy" rating in a research report on Saturday. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $9.31.

N-able Stock Down 8.6%

NABL stock traded down $0.71 during midday trading on Friday, reaching $7.50. 1,019,387 shares of the company's stock traded hands, compared to its average volume of 833,817. The company has a market cap of $1.42 billion, a price-to-earnings ratio of 374.94 and a beta of 0.62. The firm's fifty day moving average price is $8.02 and its 200-day moving average price is $8.03. The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 0.41. N-able, Inc. has a 52 week low of $6.07 and a 52 week high of $13.57.

N-able (NYSE:NABL - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported $0.11 EPS for the quarter, beating analysts' consensus estimates of $0.09 by $0.02. The business had revenue of $131.25 million during the quarter, compared to analyst estimates of $125.87 million. N-able had a net margin of 0.59% and a return on equity of 4.13%. N-able's quarterly revenue was up 9.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.14 EPS. As a group, sell-side analysts forecast that N-able, Inc. will post 0.27 earnings per share for the current fiscal year.

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.