Allianz Asset Management GmbH Purchases New Shares in N-able, Inc. (NYSE:NABL)

Key Points

• Allianz Asset Management has invested approximately $542,000 in N-able, Inc., purchasing 76,500 shares during the first quarter of the year.
• N-able reported a quarterly earnings per share (EPS) of $0.08, exceeding analysts' expectations of $0.06, along with revenue of $118.20 million for the quarter.
• Wall Street analysts have issued a consensus rating of "Moderate Buy" for N-able, with a target price averaging $9.38 per share.

Allianz Asset Management GmbH acquired a new position in shares of N-able, Inc. (NYSE:NABL - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 76,500 shares of the company's stock, valued at approximately $542,000.

Several other hedge funds have also recently bought and sold shares of the stock. KLP Kapitalforvaltning AS bought a new position in shares of N-able during the fourth quarter worth approximately $136,000. Vanguard Group Inc. increased its stake in N-able by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 9,330,440 shares of the company's stock valued at $87,146,000 after acquiring an additional 161,725 shares during the last quarter. JPMorgan Chase & Co. increased its stake in N-able by 51.9% in the fourth quarter. JPMorgan Chase & Co. now owns 418,971 shares of the company's stock valued at $3,913,000 after acquiring an additional 143,065 shares during the last quarter. Norges Bank bought a new position in N-able in the fourth quarter valued at approximately $3,450,000. Finally, New Age Alpha Advisors LLC bought a new position in N-able in the fourth quarter valued at approximately $83,000. 96.35% of the stock is currently owned by institutional investors and hedge funds.

N-able Price Performance

Shares of N-able stock traded up $0.01 on Wednesday, hitting $7.99. 549,297 shares of the company traded hands, compared to its average volume of 1,079,607. The firm's 50-day simple moving average is $8.02 and its 200 day simple moving average is $8.05. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.42. The company has a market cap of $1.51 billion, a P/E ratio of 88.72 and a beta of 0.62. N-able, Inc. has a 12-month low of $6.07 and a 12-month high of $13.64.

N-able (NYSE:NABL - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.06 by $0.02. The business had revenue of $118.20 million for the quarter, compared to analyst estimates of $115.65 million. N-able had a net margin of 3.47% and a return on equity of 5.20%. The company's revenue was up 4.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.11 EPS. Analysts expect that N-able, Inc. will post 0.27 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Needham & Company LLC reaffirmed a "buy" rating and set a $10.00 price target on shares of N-able in a research report on Monday, May 5th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $9.38.

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.