Connor Clark & Lunn Investment Management Ltd. Reduces Stock Position in N-able, Inc. $NABL

Connor Clark & Lunn Investment Management Ltd. cut its stake in shares of N-able, Inc. (NYSE:NABL - Free Report) by 59.8% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 127,635 shares of the company's stock after selling 190,225 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.07% of N-able worth $905,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Edgestream Partners L.P. lifted its position in shares of N-able by 89.7% in the first quarter. Edgestream Partners L.P. now owns 790,993 shares of the company's stock valued at $5,608,000 after buying an additional 373,989 shares during the last quarter. Millennium Management LLC lifted its holdings in N-able by 48.6% during the 4th quarter. Millennium Management LLC now owns 791,871 shares of the company's stock worth $7,396,000 after purchasing an additional 258,979 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in N-able by 5.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,529,875 shares of the company's stock worth $32,969,000 after purchasing an additional 179,305 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in N-able by 51.9% during the 4th quarter. JPMorgan Chase & Co. now owns 418,971 shares of the company's stock worth $3,913,000 after purchasing an additional 143,065 shares during the last quarter. Finally, Renaissance Technologies LLC increased its stake in N-able by 23.3% during the 4th quarter. Renaissance Technologies LLC now owns 693,417 shares of the company's stock worth $6,477,000 after acquiring an additional 131,117 shares during the period. 96.35% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have commented on NABL shares. Scotiabank restated a "sector perform" rating and set a $8.75 price objective (up previously from $8.30) on shares of N-able in a research note on Friday, August 8th. Wall Street Zen downgraded N-able from a "buy" rating to a "hold" rating in a report on Sunday. Finally, Needham & Company LLC reissued a "buy" rating and issued a $10.00 price objective on shares of N-able in a research note on Monday, May 5th. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $9.31.

Insider Activity at N-able

In related news, EVP Michael I. Adler sold 31,728 shares of the company's stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $7.72, for a total value of $244,940.16. Following the transaction, the executive vice president owned 468,555 shares in the company, valued at approximately $3,617,244.60. This represents a 6.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ann Johnson sold 34,568 shares of the company's stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $7.70, for a total value of $266,173.60. Following the completion of the transaction, the director owned 37,424 shares in the company, valued at approximately $288,164.80. The trade was a 48.02% decrease in their position. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by corporate insiders.

N-able Stock Up 0.7%

NABL traded up $0.0550 during midday trading on Thursday, reaching $7.5850. 313,537 shares of the company were exchanged, compared to its average volume of 1,067,890. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.24 and a current ratio of 1.24. The company's fifty day moving average price is $7.94 and its 200 day moving average price is $7.92. The company has a market cap of $1.42 billion, a price-to-earnings ratio of 379.44 and a beta of 0.62. N-able, Inc. has a one year low of $6.07 and a one year high of $13.15.

N-able (NYSE:NABL - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.11 EPS for the quarter, topping analysts' consensus estimates of $0.09 by $0.02. The firm had revenue of $131.25 million during the quarter, compared to analyst estimates of $125.87 million. N-able had a return on equity of 4.13% and a net margin of 0.59%.The company's revenue for the quarter was up 9.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.14 EPS. N-able has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, analysts expect that N-able, Inc. will post 0.27 EPS for the current year.

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.