Arrowstreet Capital Limited Partnership Invests $2.64 Million in N-able, Inc. $NABL

Key Points

• Arrowstreet Capital acquired 565,636 N-able shares worth approximately $2.64 million, representing a 0.30% stake. Institutional investors and hedge funds collectively own 96.35% of the company.
• N-able reported quarterly revenue of $133.68 million, up 13.1% year over year, and earnings of $0.09 per share, matching analyst estimates.
• The stock opened at $5.24, while analysts maintain a consensus “Hold” rating with an average price target of $7.55; ratings range from “Strong Sell” to “Buy.”

Arrowstreet Capital Limited Partnership acquired a new stake in N-able, Inc. (NYSE:NABL - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 565,636 shares of the company's stock, valued at approximately $2,642,000. Arrowstreet Capital Limited Partnership owned 0.30% of N-able as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in NABL. Dimensional Fund Advisors LP grew its holdings in N-able by 11.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,770,126 shares of the company's stock valued at $22,277,000 after buying an additional 474,028 shares during the period. Ameriprise Financial Inc. lifted its holdings in shares of N-able by 516.8% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,274,744 shares of the company's stock worth $10,325,000 after acquiring an additional 1,068,061 shares during the period. Applied Fundamental Research LLC boosted its position in shares of N-able by 18.3% in the fourth quarter. Applied Fundamental Research LLC now owns 1,252,829 shares of the company's stock worth $9,371,000 after acquiring an additional 193,680 shares during the last quarter. Defiance ETFs LLC acquired a new stake in shares of N-able in the fourth quarter worth approximately $8,954,000. Finally, CenterBook Partners LP grew its holdings in N-able by 32.6% in the fourth quarter. CenterBook Partners LP now owns 1,084,990 shares of the company's stock valued at $8,116,000 after purchasing an additional 266,806 shares during the period. 96.35% of the stock is currently owned by institutional investors and hedge funds.

N-able Stock Up 3.5%

NYSE:NABL opened at $5.24 on Wednesday. The firm has a market capitalization of $986.17 million, a PE ratio of -104.70 and a beta of 0.50. The stock has a 50 day moving average of $3.93 and a 200-day moving average of $4.62. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.49. N-able, Inc. has a 52 week low of $2.92 and a 52 week high of $9.04.

N-able (NYSE:NABL - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.09 earnings per share for the quarter, meeting analysts' consensus estimates of $0.09. The company had revenue of $133.68 million for the quarter, compared to analysts' expectations of $131.62 million. N-able had a positive return on equity of 3.40% and a negative net margin of 1.99%.The business's revenue for the quarter was up 13.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.08 earnings per share. Analysts predict that N-able, Inc. will post 0.22 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Zacks Research downgraded shares of N-able from a "hold" rating to a "strong sell" rating in a research note on Thursday, July 16th. Weiss Ratings restated a "sell (d)" rating on shares of N-able in a report on Friday, July 17th. Needham & Company LLC decreased their target price on shares of N-able from $8.00 to $6.50 and set a "buy" rating for the company in a research note on Friday, May 8th. Scotiabank upped their price objective on shares of N-able from $5.25 to $5.75 and gave the company a "sector perform" rating in a research report on Friday, May 8th. Finally, Wall Street Zen upgraded N-able from a "hold" rating to a "buy" rating in a research note on Saturday, May 16th. Three research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, N-able has a consensus rating of "Hold" and an average target price of $7.55.

N-able Profile

N-able NYSE: NABL is a cloud-based software provider specializing in solutions for managed service providers (MSPs). The company’s platform offers remote monitoring and management (RMM), backup and disaster recovery, endpoint detection and response (EDR), security information and event management (SIEM), and automation tools. By integrating these services into a unified interface, N-able enables MSPs to streamline IT operations, enhance security posture, and deliver proactive maintenance across on-premises, cloud, and hybrid environments.

Headquartered in Toronto, Canada, N-able traces its origins to the managed services division of SolarWinds before completing a spin-off and initial public offering in mid-2021.

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