N-able, Inc. (NYSE:NABL) Stock Position Lifted by Edgestream Partners L.P.

Edgestream Partners L.P. grew its stake in shares of N-able, Inc. (NYSE:NABL - Free Report) by 89.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 790,993 shares of the company's stock after buying an additional 373,989 shares during the quarter. Edgestream Partners L.P. owned about 0.42% of N-able worth $5,608,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NABL. Norges Bank bought a new stake in shares of N-able during the 4th quarter worth about $3,450,000. Applied Fundamental Research LLC raised its position in shares of N-able by 32.8% during the 4th quarter. Applied Fundamental Research LLC now owns 1,083,033 shares of the company's stock worth $10,116,000 after buying an additional 267,399 shares in the last quarter. Millennium Management LLC raised its position in shares of 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 buying an additional 258,979 shares in the last quarter. Crescent Park Management L.P. raised its position in shares of N-able by 32.0% during the 4th quarter. Crescent Park Management L.P. now owns 947,984 shares of the company's stock worth $8,854,000 after buying an additional 229,943 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of N-able by 5.4% in 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 in the last quarter. 96.35% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

N-able Price Performance

Shares of NYSE NABL traded down $0.07 during midday trading on Friday, reaching $8.00. The company's stock had a trading volume of 369,458 shares, compared to its average volume of 1,106,167. 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 50 day moving average price of $7.98 and a 200 day moving average price of $8.17. N-able, Inc. has a one year low of $6.07 and a one year high of $14.42. The company has a market cap of $1.51 billion, a price-to-earnings ratio of 88.94 and a beta of 0.62.

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