Edgestream Partners L.P. Cuts Stock Holdings in N-able, Inc. $NABL

Key Points

• Edgestream Partners L.P. cut its N-able stake by 82.8% in the first quarter, selling 664,067 shares and retaining 138,386 shares worth approximately $646,000. Institutional investors collectively own 96.35% of the company.
• Analyst sentiment is mixed: N-able has an average “Hold” rating and a $7.55 price target, with recent actions ranging from a “Buy” upgrade to “Sell” and “Strong Sell” downgrades.
• N-able reported quarterly EPS of $0.09, in line with estimates, while revenue of $133.68 million exceeded forecasts and rose 13.1% year over year. Shares opened at $5.24, up 3.5%, but the company continues to post a negative net margin.

Edgestream Partners L.P. lowered its stake in N-able, Inc. (NYSE:NABL - Free Report) by 82.8% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 138,386 shares of the company's stock after selling 664,067 shares during the quarter. Edgestream Partners L.P. owned about 0.07% of N-able worth $646,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Dimensional Fund Advisors LP grew its position in shares of N-able by 11.0% during the first quarter. Dimensional Fund Advisors LP now owns 4,770,126 shares of the company's stock valued at $22,277,000 after purchasing an additional 474,028 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of N-able by 516.8% in the second quarter. Ameriprise Financial Inc. now owns 1,274,744 shares of the company's stock worth $10,325,000 after buying an additional 1,068,061 shares in the last quarter. Applied Fundamental Research LLC lifted 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 buying an additional 193,680 shares in the last quarter. Defiance ETFs LLC bought a new position in N-able during the fourth quarter valued at approximately $8,954,000. Finally, CenterBook Partners LP boosted its stake in N-able by 32.6% during the fourth quarter. CenterBook Partners LP now owns 1,084,990 shares of the company's stock valued at $8,116,000 after buying an additional 266,806 shares during the last quarter. Institutional investors own 96.35% of the company's stock.

Analyst Ratings Changes

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

N-able Trading Up 3.5%

Shares of NABL stock opened at $5.24 on Wednesday. N-able, Inc. has a 1 year low of $2.92 and a 1 year high of $9.04. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.26 and a quick ratio of 1.26. The stock's 50 day simple moving average is $3.93 and its two-hundred day simple moving average is $4.62. The company has a market cap of $986.17 million, a PE ratio of -104.70 and a beta of 0.50.

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

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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